03 February, 2020
4 Min Read
Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.
Prelims and Mains focus: about the move to abolish duties and its significance; about dumping
News: The government’s decision to abolish anti-dumping duties on Purified Terephthalic Acid (PTA) will bring down manufacturing cost and potentially boost exports.
About the move
Reason for abolishing anti-dumping duty
What is PTA used for?
Significance of the move
What is dumping?
What Is an Anti-Dumping Duty?
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. For protection, many countries impose stiff duties on products they believe are being dumped in their national market, undercutting local businesses and markets.
Source: Indian Express
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