The government has abolished anti-dumping duty on a chemical called Purified Terephthalic Acid (PTA). PTA is an important raw material which is used in making various products, including polyester fabrics. PTA makes up for around 70-80% of a polyester product and is, therefore, important to those involved in the manufacture of man-made fabrics or their components.
Daily Current Affairs Quiz 2020
The anti-dumping duty on PTA was imposed after domestic manufacturers approached the Directorate General of Trade Remedies (DGTR) in October 2013. DGTR imposed anti-dumping duties on PTA imported from South Korea, Thailand, China, Indonesia, Taiwan, Iran and Malaysia between 2014 and 2016. However, companies using PTA to manufacture polyester products claimed that the move left them with limited domestic suppliers of PTA.
