The Vadodara-based EXIM Club, an exporter and importer association, organised a seminar on May 31 to discuss remedial measures on anti-dumping for the trade and industry to sustain the growth and development in business.
Anti-dumping duty is a protectionist tariff that the government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges in its own home market.
Countervailing duties, also known as anti-subsidy duties, are trade import duties imposed under World Trade Organization (WTO) rules to neutralise the negative effects of subsidies.
Addressing the forum, Dr Rajiv Arora, Additional Director-General of Anti-Dumping & Allied Duties (DGAD), and Mr Pradhan, Director, DGAD, explained how the government proceeds with the investigation and processes the applications regarding anti-dumping.
Dr Ashis Dash, Deputy Director of DGFT, Vadodara, in his presentation, explained the objectives and functions of the WTO and its policies, said a release.