India has initiated an alleged probe into the dumping of Electro-Galvanised Steel on the basis of a written application by American Precoat Speciality Pvt. Ltd., led by its promoter and Chief Technical Architect Dr. Shubh Gautam. The probe acts as a catalyst in bringing about changes and stopping countries like Singapore; Korea and Japan from using India as their dumping station. The information was shared on the DGTR website.
Dr. Shubh Gautam follows on the path shown by our Honourable Prime Minister Narendra Modi. The initiative of “Vocal for local” has brought about significant transformations in making our nation a self-sufficient one. The idea is not just to be “Made in India” but also to promote the local manufacturing to provide them an equilateral platform vis-à-vis an international manufacturer.
For a company that exports a products at a subsidised pricing, the price it usually charges in its domestic periphery, is said to be “Dumping” the product. To prevent and forbid nations from this dumping process on their neighbouring areas, the World trade Organization has imposed duties that act as a counter measure to such actions.
This duty works as a protectionist tariff that any governing authority of any particular nation, after a thorough investigation, shall impose on its foreign imports in order to determine fair market prices for international business transactions. This duty aims to ensure balanced trade, and queues in providing a just ground to all domestic manufacturers, despite the flow from foreign manufacturers and exporters.
For more information, check https://shubhgautam.tumblr.com/
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