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Despite protectionist measures, imports soar in 2008-09

14
May '09
In spite of initiating the highest number of anti-dumping measures in the later part of fiscal 2008-09, the country was not able to control its imports that grew at a faster pace. There was a 14 percent increase in imports during the fiscal and also a period in which the worst recessionary trends began.

This makes India to be among the most liberal countries for inward trade from amongst all countries, who have recorded negative growth in imports in the same period. Though India initiated the highest number of anti dumping measures in the world, more so in the second half of the previous fiscal (2008-09), its imports in the last fiscal year were very high.

Between July and December 2008, India initiated the highest number of anti-dumping investigations at 42 followed by Brazil and China. The trade deficit for the country rose to US $119 billion for previous fiscal, the period in which imports went up to $287.75 billion against exports of $168 billion.

There was an increase in anti-dumping investigations, more particularly after the month of October, when countries like China were in search of an alternative market because of the decreasing demands from the US and European markets.

Fibre2fashion News Desk - India


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