logo
India imposes anti-dumping duty on plastic machines from China, Taiwan

India imposes anti-dumping duty on plastic machines from China, Taiwan

The Central Government on Friday announced anti-dumping duties on plastic processing machinery imported from China and Taiwan, ranging between 27 to 63 per cent. The move aims to safeguard the domestic manufacturing sector from unfair trade practices.
The decision follows a detailed investigation by the Directorate General of Trade Remedies (DGTR), which concluded that plastic processing machines from these two regions were being dumped in the Indian market, meaning they were sold at prices significantly lower than their normal value in the exporting countries. This practice was found to be causing 'material injury to the domestic industry'.
The affected machinery falls under tariff codes 8477 10 00 and 8477 90 00 of the Customs Tariff Act, 1975, which typically cover injection moulding machines and other equipment used in the production of plastic goods.
The DGTR's final findings, issued on March 27, 2025, establish these three conclusions:
Machinery from China and Taiwan had been exported at unfairly low (dumped) prices.
The domestic plastic machinery industry suffered significant damage as a result.
The injury was directly caused by these dumped imports.
Following these findings, the Department of Revenue issued a notification, dated June 26, enforcing the recommended duties. These duties are calculated as a percentage of the CIF (Cost, Insurance, and Freight) value of the imported goods—a method that includes the cost of the goods, shipping, and insurance.
New duty rates are as follows:

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

After suspending Indus Waters Treaty with Pakistan, India now eyes changing Ganges Water Sharing Treaty with Bangladesh
After suspending Indus Waters Treaty with Pakistan, India now eyes changing Ganges Water Sharing Treaty with Bangladesh

Time of India

time28 minutes ago

  • Time of India

After suspending Indus Waters Treaty with Pakistan, India now eyes changing Ganges Water Sharing Treaty with Bangladesh

The water-sharing agreement of 1996 between India and Bangladesh was established to resolve disputes regarding the Farakka water allocation. (AI image) Ganges Water Sharing Treaty with Bangladesh to be revised? India is exploring various alternatives to modify and reassess a significant agreement with Bangladesh regarding the distribution of Ganga waters, following its decision to suspend the Indus Waters Treaty with Pakistan. The agreement for sharing Ganga waters, called the Ganges Water Sharing Treaty, expires in 2026, marking 30 years since its implementation. While renewal requires mutual agreement, New Delhi is eyeing a fresh treaty that addresses its present developmental requirements, sources told ET. What is the Ganga water agreement between India and Bangladesh? The agreement, which was formalised in 1996 when Sheikh Hasina began her first tenure as Bangladesh's Prime Minister, established a framework for distributing Ganga's flow at the Farakka Barrage in West Bengal during the critical dry period from January 1 to May 31 annually. Also Read | China plays hardball! After choking rare earth magnets supply, China blocks important agriculture-related shipments to India; continues exports to others The water-sharing agreement of 1996 between India and Bangladesh was established to resolve disputes regarding the Farakka water allocation. The discord arose following the 1975 activation of the Farakka barrage, which channelled water from the Ganges to the Hooghly River to ensure the Calcutta port remained navigable. The agreement established terms between India, the upstream nation, and Bangladesh, the downstream nation, for sharing Ganges water at Farakka - a barrier constructed on river Bhagirathi, approximately 10 kilometres from Bangladesh's border. The Farakka Barrage's construction facilitated a 40,000 cusecs water diversion into a feeder canal serving the Kolkata Port Trust. The current protocol allocates 35,000 cusecs of water alternately to both nations for 10-day periods during the lean season from March 11 to May 11. Sources told the financial daily that India seeks an additional 30,000 to 35,000 cusecs during this period to address its growing needs. There exists a necessity to reconsider the agreement to achieve an ideal equilibrium in water distribution between West Bengal and Bangladesh. According to these sources, India seeks to modify the treaty to accommodate its requirements for irrigation, harbour maintenance, and electricity production. The West Bengal administration reportedly supports the Central government's position, considering that the treaty's existing provisions are insufficient for their requirements. Also Read | India bleeds Pakistan dry: Water at 'dead' levels in Pakistan's dams; bigger Indus river plans in the works - top points to know Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO
Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO

Time of India

time37 minutes ago

  • Time of India

Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO

Academy Empower your mind, elevate your skills Invest in payments infrastructure (which can help in cross-selling products), offer credit solutions at checkout, and build customer loyalty. The company wants to target midmarket and smaller merchants for future growth opportunities. With its UPI-first merchant payments platform Pine Labs also wants to get into the micro-merchant ecosystem, a sector dominated by QR code companies such as BharatPe and PhonePe. Another area of focus for Pine Labs will be international expansion, especially in Southeast Asia and West Asia. The company is focusing on global expansion to target fatter margins in those geographies and harness advantages of scale to boost the margins of the overall business. Having expanded a large part of the tech-first business through the acquisition route, Pine Labs wants to continue with this strategy and tap inorganic growth opportunities wherever possible. Merchant payments, both in-store and online Fintech infrastructure plays to help other financial services players build fintech products through APIs. Credit solutions at checkout points, which can help merchants increase their customer loyalty and engagement with brands. Pine Labs gets a fee for processing transactions for these merchants or brands. 4. Pine Labs wants to double down on its platform for issuing prepaid instruments such as gift cards and also for acquiring merchants for banks, helping them with digital payment solutions. Noida-headquartered merchant payments company Pine Labs has filed its draft red herring prospectus (DRHP) with stock market regulator Sebi. The company plans to raise Rs 2,600 crore through a fresh issue and an offer for sale (OFS) of up to 147.8 million by global investors such as Peak XV Partners (formerly Sequoia India ), Mastercard, PayPal and Temasek, Pine Labs is seeking a valuation of around $4-5 billion through this public issue, according to people in the payments company was primarily owned by Peak XV Partners until 2018 and has attracted global investors to its cap table over the last six years. The company raised more than a billion dollars in venture funding and Peak reduced its shareholding to around 20% from around 90% six-seven years back. In 2022, Pine Labs achieved a valuation of $5 the global institutional investors, Pine Labs also counts multiple founders in the Indian startup ecosystem among its individual investors. Dream11 founder Harsh Jain, Indifi cofounder Alok Mittal, Swiggy cofounder Sriharsha Majety, Freshworks founder Girish Mathrubootham, and Unacademy's Gaurav Munjal have been mentioned as shareholders in the Sebi approval comes and the book building process is completed, Pine Labs will become the third venture-funded payments company to list on the Indian stock exchanges. Paytm and Mobikwik are the two other listed payment looks at the major aspects of the draft prospectus filed by Pine Labs was initially built as a point of sale (PoS) company to service retailers. But over the last five years, the company has transformed into a larger fintech firm, in part by taking the inorganic 2019, Pine Labs entered the gift card space by acquiring Accel-backed Qwikcilver Currently, Pine Labs has taken the gift card solution to new geographies, including the US and acquiring PoS company Mosambee , Pine Labs, which was a major player in the organised retail segment, marked its entry into the small and medium enterprise segment, digitising payments among longtail merchants as acquiring Southeast Asian fintech platform Fave , Pine Labs managed to set foot in that market. The acquisition also allowed Pine Labs to build a consumer-facing presence in India, offering Unified Payments Interface ( UPI ) payments and a bid to compete with the omnichannel business bets of Razorpay and Paytm, Pine Labs also entered the online payments business By diversifying its business bets, Pine Labs ensured that it had an entire bouquet of offerings for its clients with a diversified revenue Labs serves 915,731 merchants, 666 consumer brands and enterprises, and 164 financial institutions across India and overseas, according to details shared in its prospectus. This makes it one of the largest merchant payment processors in the had remained elusive for years, but in the last financial year, Pine Labs crossed the Rs 100 crore monthly revenue run rate and turned profitable in the first nine months of the year (Q4 and full-year results have not been given in the DRHP). It reported a net profit of Rs 26 crore on an operating revenue of Rs 1,208 comparison, Paytm, which has a large consumer facing business along with a merchant payments arm, reported Rs 6,900 crore in revenue in FY25. CCAvenue, another predominantly online merchant payments firm, reported total revenue of Rs 3,276 crore in FY25 and a net profit of Rs 160 Labs has increased its revenue 44% in three years, from Rs 933 crore in FY22 to Rs 1,344 crore in FY24. Last year it had reported a net loss of Rs 187 Labs will invest in product building in a bid to remain competitive, according to the prospectus. It has set out the following targets for business veterans who have tracked Pine Labs for years pointed out that the company has transformed itself to stay competitive in the era of fintech disruptors. However, the transformation resulted in its expenses shooting up to Rs 1,877 crore in FY23; this was brought down to Rs 1,622 crore in with zero-MDR payment instrument UPI displacing debit cards as a major merchant payment mode, processors such as Pine Labs have missed out on a major revenue generation Labs has structured its business across four major company visualises itself as being at the intersection of payments, brands, merchants, and credit and financial services players like the last few years, with UPI becoming the default payment mode for Indian consumers at merchant outlets, generating revenue from core payments has become a challenge for every payment processor. By betting on new revenue lines through value-added services and credit products, companies such as Pine Labs are hoping to widen their business margins.

"Is It Legal?" Unable To Afford House, Man Asks If He Can Live On Boat In India
"Is It Legal?" Unable To Afford House, Man Asks If He Can Live On Boat In India

NDTV

time40 minutes ago

  • NDTV

"Is It Legal?" Unable To Afford House, Man Asks If He Can Live On Boat In India

Unable to buy a house in the major Indian cities owing to the exorbitant prices, a frustrated social media user has sparked a viral discussion after asking if he could live full-time on a houseboat. The OP said he did not have the funds to buy property in metro cities like Bengaluru, Chennai and Hyderabad and that he could not afford the EMIs. "I am unable to afford flats in any of the Indian cities - Bangalore, Chennai, Hyderabad. I am already aged out, so I won't be in workable age, for EMIs," wrote the OP in the r/indiarealestate subreddit. "Is it legal for me to hire or buy a small boat, have a kitchen, bath and 2 rooms built on the room. All the cities have few lakes, can I park these boats on the lakes or sea shore and live there," he added. The OP said he was "frustrated with the prices" and needed serious advice from the community members. "This is a serious question. Houseboat costs from 15 to 30 lakhs. Moreover, if floods come, I will still be floating." Is it legal in India to stay in a boat by u/Puzzled_Estimate_596 in indianrealestate Social media reacts As the post went viral, social media users chimed in with their opinions on the matter, with the majority questioning the practicality of such a move. Others raised concerns that the bureaucratic trap and bribes to various officials would make the entire exercise futile. "I love your plan, the builder lobby must be having wet dreams, wonder where you will find a lake since they have filled the lakes and build apartments," said one user while another added: "Can't you just buy a home in the outskirts of a city? It won't have fun like a boat but at least it will be more practical." A third commented: "It will be allowed if you're are okay to pay 60 lakh tax for forceful encroachment of public property." A fourth added: "I don't think you have thought this through. First of you won't be able to just put a big boat in a lake somewhere in the city. Lakes are public property and you can't really use it for personal use. This means bribes which are continuous and cost a lot."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store