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Piyush Goyal highlights steps to protect local industry from unfair trade practices

The average number of days for the start of a probe for imposing countervailing duty has been declined to 66 in 2019 from 72 in 2016.

The government has taken several steps like reduction in time to initiate anti-dumping cases to protect domestic companies from unfair trade practices, Union minister Piyush Goyal said on Tuesday. The commerce and industry minister in a tweet also mentioned the government has strengthened several trade remedial measures. “In order to provide a level-playing field for the domestic industry and protect it from unfair trade practices in a time-bound manner, the government has strengthened several trade remedial measures,” he said.

According to the information shared by the minister, the average number of days for initiation of an anti-dumping investigation dropped to 32 in 2019 from 259 in 2016. The average number of days for the start of a probe for imposing countervailing duty has been declined to 66 in 2019 from 72 in 2016. The number of anti-dumping cases initiated in 2019 was 25 against five in 2016, according to the information shared by the minister.

Source: Financial Express