Indian-china news: The Government of India has formed an inter-ministerial import enhancement monitoring group. This was done because by imposing high fees on some countries like China and Vietnam in America, these countries can send their goods to India. The ministry also said that China’s counter duty on American goods may increase the arrival of American agricultural products in India.
Additional Secretary in Commerce Department L Satya Srinivas told the media, “With global uncertainties related to duty, apparently the apprehensions related to bounce have increased … Import enhancement monitoring group has been formed to look into it.” He said that if any unusual growth is reported, then the Ministry of Commerce can take action like dumping-rakshati or Rakshopai (SEFGD) fee.
Monitoring weekly and monthly trends
L Satya Srinivas said that the group is monitoring weekly and monthly trends according to goods and countries. He said, “If there is an unusual bounce, we would like to understand the reasons for this.” This group includes representatives of the Department of Commerce, DGFT (Directorate General of Foreign Trade), CBIC (Central Indirect Taxes and Customs Board) and Industries and Internal Trade Produce Department (DPIIT). Officers of other ministries are also being consulted if needed.
There was risks of dumping of goods in India
According to the ministry, an assessment made recently has led to the risk of dumping of goods in India due to counter -duty in the midst of global trade tension. According to this, exporters of countries like China, Vietnam and Indonesia can send goods to India due to rising costs in the US. Significantly, the US has imposed a heavy duty of 145 percent on Chinese goods. In retaliation, China has also imposed a 125 percent fee on American goods, causing a trade war.
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