The economics ministry says that India has decided to remove anti-dumping tariffs against certain chemical imports from Taiwan.
According to the economics ministry on Saturday, the Indian government is set to revoke the anti-dumping tariffs against Taiwan’s epoxy resin and polyester aldehyde starting from Aug. 31. The tariff removal will also cover products from China and South Korea.
India started to impose anti-dumping tariffs on the two chemical products from Taiwan in 2005. Taiwan’s Bureau of Foreign Trade said that it welcomes the decision to remove the tariffs, and that it has informed Taiwanese firms and related industry associations of the good news.
Economics ministry statistics show that Taiwan exported about US$74 million worth of epoxy resin and polyester aldehyde to India last year. That’s up almost 4% from a year earlier.
Taiwan is the fourth largest supplier of the two chemical products to India, taking an approximately 11% market share, following Singapore at 19.6%, China at 18.27%, and South Korea at 12.43%.