India officially launches anti-dumping investigation on imported PVC from seven countries
According to the petitioners, the import of PVC to India surged by 65% in 2022 – 2023 after the government dismantled the previous import anti-dumping duties, which suppressed and depressed the prices in the local market
In an official statement published in the Gazette, the Ministry of Commerce and Industry announced that India has officially launched an investigation into the alleged dumping of suspension PVC resin from seven countries, namely: China, Indonesia, Japan, South Korea, Taiwan, Thailand, and the US.
The action was taken after three domestic producers: Chemplast Cuddalore Vinyls Limited (CCVL), DCM Shriram Limited and DCW Limited submitted a petition to the relevant authorities claiming a drastic surge in imports of suspension PVC cargoes from the above-mentioned countries that seriously injured the local industry.
According to the petitioners, the import of PVC to India surged by 65% in 2022 – 2023 after the government dismantled the previous import anti-dumping duties, which suppressed and depressed the prices in the local market, causing severe financial losses to local producers.
Two other Indian PVC producers: Finolex Industries Limited and Reliance Industries Limited neither support nor oppose the investigation.
The Notification did not specify how long the investigation will take, however, the government has given any interested party 30 days to submit any information relating to the investigation.
India is the world’s largest PVC importer, and the country abolished its previously imposed anti-dumping duties in February 2022, allowing manufacturers to access more competitive sources of raw materials. In May 2022, the government also lowered import duty on PVC from 10% to 7.5%.