Centre strengthens monitoring to curb cheap imports after US tariffs

New Delhi

The government has established a task force to monitor the potential influx of goods sold at low prices, following the US tariff hikes. These changes could redirect exports to India, leading to the risk of dumping and predatory pricing. Deepak Mishra, Joint Secretary at the Ministry of Chemicals and Petrochemicals, emphasized the need for vigilance in the coming months.

Speaking at the India Speciality Chemicals Conclave, Mishra highlighted that India's chemical sector could benefit from these global shifts. The government is also working on creating an Indian REACH framework, ensuring products meet international standards for environmental and quality controls.

Mishra stressed the importance of research and development, urging the chemicals industry to collaborate with academic institutions to boost innovation. Kapil Malhotra of Assocham added that the chemicals sector has seen increased activity, especially in specialty chemicals, with inquiries coming from across the globe, including China.

Andhra Pradesh’s CM Saikanth Varma discussed the state’s plans to build the largest petrochemical hub in Mulapeta, with a deep sea port under construction. He also mentioned the state’s favorable industrial policy, offering tailor-made incentives for large investments. With three industrial corridors and excellent connectivity, Andhra Pradesh is well-positioned for growth in the chemicals sector.

Sagar Kaushik, Assocham Chairman, noted the global chemicals market is worth $6 trillion, with a significant portion traded globally, presenting vast opportunities for growth across various sectors and regions.