India initiates anti-dumping investigation into imports of vitamins from China, EU, Switzerland
When a company exports a product at a price lower than the price it normally charges in its own home market, it is said to be dumping.
India has initiated an anti-dumping investigation into import of Vitamin-A Palmitate – used for animal consumption – from China, European Union and Switzerland, based on a complaint by medicine company Piramal Pharma, the Union commerce ministry said in a notification issued last month.
The matter came to light on Wednesday.
According to the World Trade Organization, when a company exports a product at a price lower than the price it normally charges in its own home market, it is said to be dumping the product. An anti-dumping investigation determines whether this practice has hurt domestic companies.
On December 29, the commerce ministry’s investigation body, the Directorate General of Trade Remedies, said that Piramal Pharma has sought that an anti-dumping duty be levied on the imports of Vitamin-A Palmitate from China, European Union and Switzerland.
“The applicant has claimed that because of the adverse volume and price effect of the dumped imports, its performance has deteriorated in respect of cash profit, profit and return on investment,” the commerce ministry notification stated. “There is sufficient prima facie evidence that the injury is being caused to the domestic industry by dumped imports from the subject countries.”
In its application, Piramal Pharma has not been able to cite the normal price of Vitamin-A Palmitate in Chinese, European Union and Swiss markets. However, the Directorate General of Trade Remedies said that it accepted the claims made by the applicant to initiate the investigation.