China Anti-Dumping Tariff On Indian Fibre Optic Product will give the needed impetus to economic decoupling
China had previously imposed an anti-dumping tariff on the Indian fibre optic product for five years until Mid-August of 2019 and then had a review of the case. Now China has once again extended the anti-dumping tariff on a fibre optic product made in India.
This punitive tariff on single-mode optical fibre takes effect from August 14 and lasts for five years, with tariffs ranging between 7.4 percent and 30.6 percent depending on the specific Indian manufacturers.
Unperturbed, India seems to have welcomed this action as it will lead to a faster decoupling of trade and commerce between the two countries.
As return gift now India’s state-owned oil majors have stopped hiring Chinese tankers to ship their crude and petroleum products.
China-flagged and owned vessels have been barred from bidding on tenders for chartering tankers to import crude into India, or export products such as diesel out of the country. The ban followed India’s implementation last month of regulations on business with nations sharing its border, referring to China and Pakistan without naming them, the people said, asking not to be named.
The state-run Companies are also planning to ask oil traders and suppliers not to send shipments to India using Chinese vessels, they said. The move is poised to further decouple economic relations between two of Asia’s largest economies after a deadly Himalayan border clash left 20 Indian soldiers and more than 90 number of Chinese troops dead. The use of Chinese vessels is limited and mostly used in the transport of liquefied petroleum gas.
India’s new trade curbs is seen aimed primarily at limiting participation of Chinese groups in orders and tenders offered by government-owned companies. India — which imported goods worth over $70 billion from China in 2019 — has already banned scores of Chinese mobile phone applications in an attempt to reduce dependence on its products.
Decoupling is being done by India in a phased manner. In case Chinese give it a push from their side, it will be welcomed by India. We aready to face economic problems but will have no dealings with China.
