India has withdrawn its anti-dumping duty on the import of hydrogen peroxide, a chemical used in dyeing and washing plants in the textile industry, from Bangladesh.
New Delhi published a gazette to this effect on Tuesday.
India's Department of Revenue slapped the anti-dumping duty of $27.81-$91.47 per tonne on the import of hydrogen peroxide in June 2017 following an investigation.
The withdrawal came after the government of Bangladesh and local companies lobbied India seeking a review of the decision.
Mohammad Akramuzzaman, chief financial officer of Samuda Chemical Complex Ltd, said the removal of the duty would enable them to export the chemical to India.
Tapan Kanti Ghosh, senior secretary of the commerce ministry, welcomed the development and expected that the chemical's shipment from Bangladesh to India would grow further because of the removal of the duty.
The chemical's production has to be increased since its demand will go up in the Indian markets, he said.
Before the tariff was slapped, exporters shipped up to 3,000 tonnes of the chemical a month.
Anti-dumping duty is a protectionist tariff that a government imposes on imported items on the ground that the products are priced below the fair market value.
Many countries impose such duties on the products they believe are being dumped in their markets in order to protect local industries.
Source: The Daily Star
