'India needs to be vigilant against dumping'

Friday, 08 August 2003, 19:30 IST
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NEW DELHI: India needs to be vigilant against unfair trade practices, including dumping, while liberalising its economy, Commerce Minister Arun Jaitley warned Thursday. As the domestic industry is currently "adjusting itself to a quantitative restriction-free regime", there is a need to be vigilant as the "sheer size of the domestic market could be a temptation for some exporting countries to indulge in unfair trade practices", he said. Jaitley, who was addressing a national seminar on anti-dumping measures, said: "We will need trade defence instruments with necessary flexibility to protect our industry from injurious dumping, subsidisation or from a sudden surge in imports." To protect domestic industry, India has introduced several effective anti-dumping measures and these are in the process of being streamlined, he noted. India was working in a transparent manner, adhering to all substantive and procedural requirements, as was reflected by the fact that most legal findings had been upheld and sustained by decisions of appellate courts. Pointing out that anti-dumping measures should be remedial rather than punitive, Jaitley urged Indian industry to "not only look to these measures but also to take appropriate steps to become globally competitive". Referring to ongoing World Trade Organisation (WTO) negotiations, Jaitley said they were aimed at clarifying and improving disciplines under the Anti-Dumping Agreement.
Source: IANS
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