The return of protectionism
India Legal|April 12, 2021
This will emerge as the new reality and the global village concept, at least as far as trade goes, may have reached its “use by” date. Protectionism won’t be an evil word anymore.
Sujit Bhar
The return of protectionism

DISPLAYING a proactive and aggressive stance, the Union government has imposed a stiff antidumping duty on the imports of Polyethylene Terephthalate (PET Resin) originating in or exported from China. This may sound no more than an addition to the ongoing trade and tariff war that India has purportedly waged against China, but there is a bigger picture in the backdrop of this.

This move was initiated through an application led by IVL Dhunseri Petrochem Industries Private Limited and Reliance Industries, two of the largest Indian manufacturers of PET. On the basis of this application the Directorate General of Trade Remedies (DGTR) had recommended an anti-dumping duty of $15.54 to $ 200.66 per metric tonne of the imported product for five years. This recommendation had come in December last, after a year-long investigation into the damage that such unnaturally priced imports were doing to the domestic industry. The duty is now official. The duty ranges from $ 16.92 to $ 200.66 per MT, depending on quality, and is higher than the recommended levels.

PET is critical for India, and should have remained an Indian venture specific raw material. But Chinese dumping had created a disadvantage for leading Indian companies.

هذه القصة مأخوذة من طبعة April 12, 2021 من India Legal.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة April 12, 2021 من India Legal.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من INDIA LEGAL مشاهدة الكل
PIL, Difficult To Swallow?
India Legal

PIL, Difficult To Swallow?

In a recent ruling, the Bombay High Court lamented the increasing number of frivolous public interest litigations being filed in courts and echoed the sentiments of the Supreme Court that such litigations are the bane of the judicial system. Is there any way to restrict their misuse?

time-read
6 mins  |
February 13, 2023
Till Infertility Do Us Part...
India Legal

Till Infertility Do Us Part...

The Calcutta High Court slammed a husband for initiating divorce proceedings due to his wife's infertility and asked him to be a pillar of support for her. Courts have often taken an empathetic view in such matters

time-read
4 mins  |
February 13, 2023
IS THAT LEGAL?
India Legal

IS THAT LEGAL?

Ignorance of law is no excuse. Here are answers to frequently asked queries regarding matters that affect us on a day-to-day basis

time-read
3 mins  |
February 13, 2023
The Big Lie
India Legal

The Big Lie

In America, The Big Lie is an idiom used by Donald Trump's opponents and the media to describe his constant gripe about election fraud. Now, it seems more suited to another Republican, Congressman George Santos (right), who has been facing growing calls to resign after he admitted fabricating parts of his resume and biography since his election in New York last year.

time-read
1 min  |
February 13, 2023
Flying into the Sunset
India Legal

Flying into the Sunset

Over 50 years since the first and original jumbo jet, the Boeing 747, took to the skies and revolutionized air travel, the last of the legendary aircraft (right) was delivered to a freight charter company, bringing down the curtain on one of aviation's most successful products.

time-read
1 min  |
February 13, 2023
Star Crossed
India Legal

Star Crossed

Actor and producer Alec Baldwin is a Hollywood legend, having starred in a range of movies, award winning TV sitcoms, and theatre. He was most recently seen in Mission Impossible Fallout, which is an apt description of his current situation.

time-read
1 min  |
February 13, 2023
Walkouts in the UK
India Legal

Walkouts in the UK

An estimated half a million workers have gone on strike, shutting down thousands of schools, public transport and border disruption. It is the biggest day of industrial action for more than a decade.

time-read
1 min  |
February 13, 2023
Myanmar's Misery
India Legal

Myanmar's Misery

Two years after the military coup ousted the elected government led by Aung San Suu Kyi, the brutal crackdown by the junta on so-called \"insurgents\" and civilian protesters has reached a new level with the use of air strikes, a new and deadly tactic in the ongoing civil war.

time-read
1 min  |
February 13, 2023
AMERICA'S ANGST
India Legal

AMERICA'S ANGST

From messy, divisive politics to a series of mass shootings, and now black officers brutally beating another black man to death as seen in bodycam videos, America's domestic convulsions are cause for serious introspection

time-read
4 mins  |
February 13, 2023
JUSTICE LEAGUE
India Legal

JUSTICE LEAGUE

There are few judicial appointment procedures in the world that are completely bereft of the overarching presence of either the executive or the legislature, or both. In the end, the judge is left with all the powers vested in him/her by the constitution to uphold the rule of law, within an atmosphere of external influences

time-read
9 mins  |
February 13, 2023