Supreme Court (SC) announced its judgment that anti-dumping law is essential for India's industrial development.
Anti-dumping duties prevent illegal imports and damage the domestic industries.
The judgment was issued in a response to appeal of Reliance Industries Limited (RIL) against the order of Customs Excise and Gold (Control) Appellate Tribunal "CEGAT" dated November 25, 2000, upholding the order of Designated Authority (DA).
This verdict was issued by a bench comprising Justices Ashok Bhan and Markandeya Katju.
CEGAT had supported DA order of not imposing anti-dumping duty on goods imported from Japan, Malaysia and Taiwan as price of goods from these counties are above the non-injurious level.
While goods imported from Spain would be liable to pay to Rs521 per metric ton.
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