Page 34 - Chemexcil NEWS August - September 2017 for web
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pearls, precious and semi-precious stones (6.86) Consequently, the trade deficit during the month
and gold (95.05),” the statement said. under review rose higher to $11.45 billion from
$7.76 billion reported for July 2016.
Besides, the data showed that India’s oil imports
during July increased by 15.02 per cent to $7.84 Further, the ministry disclosed that the services
billion, from $6.82 billion in the same month last exports data provided by the Reserve Bank of
year. India (RBI) for June 2017 was estimated at $13.39
billion, and the trade deficit at $5.9 billion
“The global Brent prices ($/barrel) have increased
by 8.03 per cent in July 2017 vis-à-vis July 2016 “Taking merchandise and services together,
as per World Bank commodity price data,” the overall trade deficit for April-July 2017-18 is
statement said. estimated at $34.07 billion, as compared to $10.80
billion during April-July 2016-17,” the statement
Non-oil imports were up by 15.55 per cent to $26.14 added.
billion, from $22.63 billion in the corresponding
month of last year. (Source: http://www.canindia.com/indian-exports-rise-for-11th-
straight-month-in-july-grow-4/ dated 14th August-2017)
11. UNION GOVERNMENT MAY IMPOSE ANTI-DUMPING DUTY ON
CHEMICALS
AHMEDABAD: The Union government is like- imposes anti-dumping duty on the goods, people
ly to impose anti-dumping duty on a chem- should boycott use of Chinese products as it is
ical imported from China, Canada and European unfavourable for domestic producers," he said.
Union, which are used in dyes and pharmaceu-
tical sector. Chemical industries in the state look Soon after the announcement, even the stock
forward to the announcement by the central gov- markets look buoyant. Chemical companies'
ernment as it is aimed at safeguarding domestic stock prices seemed to have reacted positively
players against cheaper imports. to the likelihood of imposition of anti-dumping
duty. Several Gujarat-based companies such as
Shailesh Patwari, president, Gujarat Chamber of Kiri Industries Limited, Meghmani Organics Ltd,
Commerce and Industries (GCCI), said, "We are Gujarat Alkalies and Chemicals Ltd, Asahi Song
eager for the government decision and would Colors Ltd and Aksharchem (India) saw their
welcome it, as it will go a long way in providing a prices increasing on Wednesday. The sure was in
level-playing field to the domestic players." range of 1.50% to 8%.
India has imposed similar duties on import In fact, Gujarat Alkalies and Chemicals along with
of several products including steel, fabrics, Teamec Chlorates had filed an application for
chemicals, among others. Imports from China initiating anti-dumping probe. "The government
have increased across various sector, including should impose anti-dumping duty not just on
textiles, ceramics and bulk drug pharmaceuticals, chemicals but several others such as Textiles,
among others. This is detrimental to the prices of Pharmaceuticals - mainly bulk drugs, among
chemicals in the domestic industry as imports are others," said Jaimin Vasa, vice president, GCCI.
relatively cheaper.
(Source: http://timesofindia.indiatimes.com/city/ahmedabad/
In the wake of this, Patwari also emphasized govt-may-impose-anti-dumping-duty-on-chemicals/
on denizens boycotting Chinese products. articleshow/60093622.cms 17th August-2017)
"Irrespective of whether the government
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