Joint Director General of Foreign Trade (DGFT) and Pharmaceuticals Export Promotion Council of India (Pharmexcil) had conducted a seminar on ‘anti-dumping’ of drugs, and cosmetics here in Hyderabad. The objective of the seminar was to create awareness among the traders and industry bodies about the unfair trade practices adopted by the overseas companies in India.
The seminar was basically aimed at sensitizing the pharmaceutical traders and industry about trade remedy instruments available under World Trade Organization (WTO) frame work to counteract the unfair competition from overseas companies and to protect the domestic industry.
In the recent times there have been growing incidents of unfair trade practices being adopted by certain overseas companies to counter the domestic Indian players. Most of them are flooding with cheap quality low cost products. Taking this in to consideration the DGFT wants to bring awareness among the domestic traders and local manufactures about the menace of anti-dumping and its impact on the local market players.
Under the existing WTO arrangement, and in terms of various provisions under the Customs Tariff Act of 1975 (as amended in 1995) and Rules framed thereunder, anti-dumping and allied measures constitute the legal framework, within which the domestic industry can seek necessary relief and protection against dumping of goods and articles by exporting companies and firms of any country from any part of the world.
‘As some of the overseas companies are taking advantage of certain terms and provision in the WTO agreement these measures have assumed a great deal of relevance in India in recent times, pointed an official at the seminar. Competitors from across the borders are resorting to anti-dumping tactics to the detriment of the domestic industry. This motive of certain foreign companies is viewed as a threat to local manufactures in the country.
In view of this the DGFT has asked the local trade bodies and industry to be vigilant. “In order to bring awareness among the traders and industry bodies we have organized seminars workshops across the country, this will sensitize the traders and enable them to take remedial measures under the WTO frame work,” said Dr P V Appaji, executive director, Pharmexcil.
Dr Neeraj Varshney, director, Department of Anti Dumping, and senior officials from office of Jt. DGFT and others, attended the seminar.