Strong anti-dumping duties will compensate Indian industry for the injuries it suffers, secure supply chains, and generate jobs.
How atmanirbhar, or self-reliant, is Indian industry? The question has assumed significance since much of the domestic industry has in recent years been complaining of being catastrophically bled by the ever-growing dumping of products by foreign countries, particularly China.
The dumping, often at prices less than even the prevailing rates at the country of origin of the products, has robbed Indian manufacturers of a level-playing field. Foreign products — that are cheaper and most likely of inferior quality — are flooding the Indian market.
Consequently, many Indian manufacturers are struggling to stay afloat despite being competitive. Some, in fact, have been forced to shut shop in the face of what can be best described as nothing less than a foreign invasion. Others are surviving, just about.
None of these augurs well for the domestic industry that India wishes to be atmanirbhar. But why has this come to this?
According to a report published by the Centre for Digital Economy Policy Research, though foreign products are being dumped within our shores in ever-increasing volumes, the Government of India is strangely shying away from imposing anti-dumping duties.
Source : deccanherald