The anti-dumping agreement India is a trade regulation policy that aims to protect domestic producers from the damage caused by the import of goods at unfairly low prices. Dumping is when a foreign company sells its products in India below the normal price levels of market competitors, causing harm to domestic producers.
This type of trade practice can impact the Indian economy in several ways, and the anti-dumping agreement India is designed to address these issues. The agreement is focused on preventing the negative effects of dumping on the domestic market and preventing unfair trade practices that could harm the economy.
The anti-dumping agreement in India has several objectives. The primary objective is to protect domestic producers from the adverse effects of imported goods that are priced lower than the cost of production. The agreement covers many industries, including steel, pharmaceuticals, textiles, and many more.
The anti-dumping agreement in India works by imposing additional duties on the imported products that are proven to be dumped. The duties are aimed at counteracting the impact that the dumped products have on the domestic market. The Indian government has the authority to investigate complaints about dumping practices and may impose these additional duties.
Furthermore, the Indian government has established the Directorate General of Anti-Dumping and Allied Duties (DGAD) to implement and administer the anti-dumping agreement. DGAD is responsible for investigating claims of dumping and determining whether additional duties should be imposed on the imported products.
In conclusion, the anti-dumping agreement in India is a crucial aspect of trade policy in the country. The agreement helps protect the domestic industry by preventing unfair trade practices and promoting fair competition. The Indian government has made significant strides in implementing this policy and has ensured that it is adequately enforced to promote fair trade practices.