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India Ranks Second in Anti-Dumping Duties and Lowers Average Tariffs in 2023

by Giezel Garcia
07/27/2024
in Tariffs & Duties

India ranked as the second-highest country, after the United States, in initiating and imposing anti-dumping duties among World Trade Organisation (WTO) members in 2023, according to WTO data reported by the Financial Express.

Despite an increase in the use of non-tariff measures, India’s average tariffs declined to 17 percent in 2023, compared to 18.1 percent in 2022.

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Anti-Dumping and Trade Defense Measures

India initiated 45 anti-dumping investigations and imposed duties in 14 cases during 2023, as per the 2024 World Tariff Profiles, a report by the WTO, International Trade Centre (ITC), and UN Trade and Development (UNCTAD). In comparison, the U.S. initiated 64 investigations and imposed duties in 14 cases.

India currently has 133 anti-dumping measures in effect, impacting 418 products. In 2022, India led WTO members with 29 anti-dumping investigations.

In addition, India initiated three countervailing investigations and imposed duties in three cases in 2023. Overall, India has enforced countervailing duties in 17 cases, affecting 28 products. Countervailing duties (CVD) target subsidized imports to prevent potential harm to domestic industries.

Safeguard Duties

India also conducted one safeguard investigation in 2023, imposing duties in two cases. Unlike anti-dumping and countervailing duties, which are country-specific, safeguard duties apply to imports regardless of the exporting country to protect domestic industries from sudden surges.

India as an Exporter

As an exporter, India faced 11 anti-dumping investigations in 2023, with duties imposed in eight cases. India also faced four countervailing investigations, with actions taken in three cases.

Tariff Trends

India’s simple average tariffs decreased in 2023, with average agricultural tariffs falling to 39 percent from 39.6 percent in 2022, and non-agricultural tariffs dropping to 13.5 percent from 14.7 percent. However, trade-weighted average agricultural tariffs rose to 65 percent in 2023 from 48.5 percent in 2022, while non-agricultural tariffs decreased slightly to 9 percent from 9.2 percent.

India’s final average bound tariff under WTO commitments stands at 50.8 percent for all products, with agricultural products at 113.1 percent and non-agricultural products at 36 percent.

Stay on top of supply chain news with The Supply Chain Report. Enhance your international trade knowledge with free tools from ADAMftd.com.

#IndiaTradePolicy#AntiDumpingMeasures#GlobalTariffs#EconomicReforms#TradeTransparency

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