Skip to main content

India merges anti-dumping, import safeguard bodies

By
India merges anti-dumping, import safeguard bodies
The commerce ministry said the government has amended the rules on allocation of business, shifting work pertaining to safeguard measures to the ministry
India has finally merged the two separate bodies handling anti-dumping and import safeguards to form the Directorate General of Trade Remedies (DGTR), in line with US International Trade Commission (USITC), for providing comprehensive and swift trade defence mechanism under one umbrella.
Mint on 14 April 2016 had first reported about the proposal made by the commerce ministry. However, the finance ministry, which had administrative control over the Directorate General of Safeguards (DGS), rejected the commerce ministry’s proposal, Mint reported on 7 September 2016. The commerce ministry, however, went ahead and renamed the Directorate General of Anti-Dumping and Allied Duties (DGAD) under its control as DGTR.
In a press statement on Wednesday, the commerce ministry said the government has amended the rules on allocation of business, shifting work pertaining to safeguard measures to the commerce ministry. The refurbished DGTR will also bring safeguards (quantitative restrictions) functions of Directorate General of Foreign Trade (DGFT) into its fold.
Presently, the trade defence mechanism in India lacks optimality and takes more than a year to complete proceedings in cases pertaining to unfair trade practices. Currently, DGAD deals with anti-dumping and countervailing duty cases, while DGS deals with safeguard measures and DGFT deals with quantitative restriction (QR) safeguards.
The commerce ministry said DGTR will also provide trade defence support to India’s domestic industry and exporters in dealing with increasing instances of trade remedy investigations instituted against them by other countries. In the last three years, India initiated more than 130 anti-dumping/countervailing duty/safeguard cases to deal with rising incidence of unfair trade practices and to provide a level playing field to the domestic industry.
DGTR will be a professionally integrated organization with multi-spectrum skill sets emanating from officers drawn from different services and specialisations. “DGTR will also bring in substantial reduction of the time taken to provide relief to the domestic industry. The newly constituted body is in consonance with the goal of Minimum Government Maximum Governance of the Prime Minister of India,” the commerce ministry said in the statement.

The Mint, New Delhi, 10th May 2018

Comments

Post a Comment

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

By
  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...
Post a Comment
Read more

External spillovers likely to hit India's financial system: RBI report

By
  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...
Post a Comment
Read more

Retail inflation cools to a six-year low of 2.82% in May on moderating food prices

By
  New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...
Post a Comment
Read more