CURRENT AFFAIRS

Detailed explanation-1: -The commerce ministry has recommended imposition of anti-dumping duty on Chinese ofloxacin - a medicine used to treat certain infections - for five years to guard domestic players from cheap imports from the neighbouring country.

Detailed explanation-2: -Ans. While the Designated Authority (in the Department of Commerce) recommends the anti dumping duty, provisional or final, it is the Ministry of Finance, Dept. of Revenue which acts upon such recommendation within three months and imposes/levies such duty.

Detailed explanation-3: -The Directorate General of Trade Remedies (DGTR) (earlier known as Directorate General of Anti-Dumping & Allied Duties) is an attached office of the Department of Commerce, Ministry of Commerce & Industry.

Detailed explanation-4: -The recommended duty ranges from USD 114 per tonne to USD 3, 801 per tonne as per the notification released in September. World Trade Organisation (WTO) rules permit the imposition of anti-dumping duties. India and China are both members of this multilateral organisation based in Geneva.

Detailed explanation-5: -The government imposes anti-dumping duty on foreign imports when it believes that the goods are being “dumped” – through the low pricing – in the domestic market. Anti-dumping duty is imposed to protect local businesses and markets from unfair competition by foreign imports.