India has levied countervailing duty (CVD), for five years, on continuous cast copper wire rods imported from Indonesia, Malaysia, Thailand and Vietnam. 

 

The four countries paid duty ranging between 2.47-10.27pc, on the landed value of imports in 2019, according to the Directorate General of Trade Remedies (DGTR).
 

The CVD is in response to a domestic manufacturers’ petition – Hindalco and Vedanta Industries (Sterlite Copper) in particular – demanding a customs tariff assessment and collection of countervailing duty on subsidised articles, filed in Sept 2018.

 

DGTR observed that the producers/exporters from these four countries were exporting wire rods to India at subsidised rates. 

DGTR mentioned that imposition of countervailing measures would remove the unfair advantages gained by subsidisation and create a level playing field.  

 

The CVD imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier), the notification said.

Leave a Reply

Your email address will not be published.