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According to the Indian Ministry of Industry and Information, the Indian government will impose anti-dumping duties on 98 kinds of products imported from China and at the same time take measures to reduce the trade deficit with China.
In a reply to the Indian Federal Institute, Chaudhary, Minister of State for Industry and Commerce said in India's reply that as of December 27, 2017, India will impose anti-dumping measures on 98 kinds of products imported from China, including steel, metal products, chemicals, electrical products, Electronic products, vitamins A and C and so on.
Chaudhary said that India and China have formulated a five-year economic and trade cooperation development plan and formulated a medium-term road map of balanced and sustainable economic and trade relations between China and India on the principle of equality and mutual benefit.
So far this fiscal year, India's trade deficit with China was 36.73 billion U.S. dollars.Aluminum sand blast CNC turning part Bulk Production
Chaudhary explained that "the main reason for the increase in the trade deficit with China may be that China's exports to India rely heavily on manufacturing products to meet the needs of fast-growing areas such as telecommunications and power in India."
The increase of taxes on steel products will have a significant impact on the hardware industry. At the same time that we grasp the great situation in our country, we should make the best adjustments to the output and the export volume to India in order to maximize profits .