Bridge To India Blog DGTR announces final safeguard duty recommendation

The Directorate General of Trade Remedies (DGTR), Ministry of Commerce and Industry, has issued its final decision on the safeguard duty petition by domestic cell and module manufacturers. It has recommended a safeguard duty on imports of all cells and modules, irrespective of technology, for a period of two years - 25% in the first year falling to 20% and 15% in the subsequent six month periods respectively. The duty shall be applicable to imports from China, Malaysia and all developed countries. Imports from other developing countries have been exempted as they individually account for less than 3% of total imports into the country. If the recommendation is accepted, it will have no meaningful sustainable impact on domestic manufacturing because of the short duty period and no relief for SEZ (special economic zone) units; The duty would pose financial and execution challenges for all ongoing projects and adversely impact government plans for the sector; The industry should brace for an extended period of uncertainty as the duty saga is likely to linger on for the foreseeable future; The decision is largely in line with expectations although the two-year application period is surprisingly short. It is not sufficient to encourage any new... Read More »The post DGTR announces final safeguard duty recommendation appeared first on BRIDGE TO INDIA.