Announcement of Anti-Dumping Duty on Polystyrene Imports Pacifies Domestic Players

Domestic players in Polystyrene market in India, INEOS Styrolution India Ltd. And Supreme Petrochem had demanded imposition of Anti-Dumping Duty (ADD) on the import of Polystyrene from countries like Iran, Malaysia, Singapore, UAE, China, and the United States. Imports are cheaper and are eroding the market share of domestic players, thus, leading to such a demand. Upon careful evaluation of the application by the Directorate General of Trade Remedies (DGTR), it affirmed the negative impact of such imports on the domestic players and thus, recommended for the imposition of ADD from six of these countries, within the range of USD 35 per MT to USD 474 per MT. This duty aims to protect the interest of the domestic players but at the same time maintain good terms with partner countries. Polystyrene imports, both GPPS and HIPS have been imported in almost equal volume last year and find wide usage in Electronic appliances such as refrigerators, air conditioners and so on. The authorities believe this would offset the import volume and give a level-playing field for the domestic players. However, finance ministry is further likely to chair a discussion on this and final call would be made considering all possible angles of such decision.