Centre imposes anti-dumping duty on wheel loader imports from China
The finance ministry found that wheel loaders exported to India from China at dumped prices caused material injury to the domestic industry.
The government on Wednesday imposed an anti-dumping duty on the import of wheel loaders into India, in a bid to protect the interests of the domestic industry. Wheel loaders are self-propelled wheel-mounted equipment with an articulation joint having a front-end loading mechanism.
In an official notification on Wednesday, the Ministry of Finance said it found that the goods were exported to India from China at dumped prices causing material injury to the domestic industry.
The duty, on the said imports from China, will range from 18.84 per cent to 82.71 per cent and will remain in force for five years, according to the finance ministry.
Here are details of the anti-dumping duty on wheel loaders, as provided by the ministry:
The action by the finance ministry comes after construction equipment maker JCB India sought an investigation into the matter, wherein mining and construction equipment manufacturer Eimco Elecon (India) validated key facts.
The duty will be applicable on imports in complete build unit (CBU) and semi-knocked down (SKD) forms, and not on the completely knocked down (CKD) form.
A wheel loader in the SKD form consists of the machine body/chassis fitted with an engine, transmission or axle in a single unit, which may or may not be fitted with one or more other components. If the chassis or the machine body is imported without an engine, transmission or axle fitted into it, no anti-dumping duties shall be payable, according to the statement.
Meanwhile, the following products are excluded from the scope of the investigation:
- Rated payload capacity of more than 7,000 KG
- Gross engine power above 180 kW
- Measured distance at the center between right and left wheel (wheel tread/track) above 2,280 mm
- Measured distance between the front and back wheel axles (wheelbase) above 3,350 mm
"All the above parameters are ‘and’ conditions. In other words, a product is excluded from the scope of the PUC only if it satisfies all of the above conditions concurrently... Battery-operated wheel loaders are also excluded from the scope of the investigation," it added.
The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, had recommended the impression of such duty on September 29.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
PM Modi has invested in this post office scheme; know his total worth as per Lok Sabha elections 2024 affidavit
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
11:46 AM IST