Korean Companies Advised to Pay More Attention to India’s Import Regulations
Posted on 15 September 2020
India has recently strengthened trade remedies such as anti-dumping measures in a bid to protect its industries, the Korea International Trade Association (KITA) said in a report released on Sept. 15, advising Korean companies to pay more attention to the matter.
The number of investigations into imports initiated by India between 2016 and 2019 was 60.5 per year, nearly double the annual average of 30.3 between 2010 and 2015, according to the KITA report on India’s import regulation trends.
Since 2016, China has topped the list of targeted countries with 77 new investigations, followed by Korea with 24, Thailand with 22 and Malaysia with 21.
In particular, petrochemical and steel companies are constantly subject to anti-dumping and countervailing duties in India, so it is important to prepare for the risks of import regulations before shipping products, the report said.
"India’s protectionist tendency has strengthened following the revision its anti-dumping, subsidy and countervailing duty enforcement ordinances in February 2020," the report said.
Although India has recently complied with the deadline for anti-dumping investigations set by the World Trade Organization (WTO) and increased procedural fairness by improving information disclosure, exporters to India are still facing difficulties as unclear aspects remain in calculating dumping margins and determining industrial damage. As India’s investigation standards are excessively tough, exporters face extra burden in responding to them.Source : Business Korea