Government of India decided to terminate the safeguard investigation on import of phenol into India. In its notification, dated 13 april 2020 the Department of ommerce & Industry Directorate General of Trade informed.
It is to be noted that Hindustan Organic Chemicals Limited and Deepak Phenolics Ltd had filed an application before the Director General for initiation of Safeguard investigation and imposition of Safeguard duties concerning imports of “phenol” into India. They had alleged that an increased of import of the subject goods would consequently cause or threaten to cause serious injury to domestic producers. The application filed by the domestic industries were forwarded to the Central Government in the Ministry of Commerce & Industry, Ministry of Finance and the governments of major exporting countries and questionnaire were sent to foreign producers, exporters, importers and other domestic producers with a request to make their views known in writing within 30 days from the date of issue of the notification.
Indian Laminates and Plywood industry registered their view and said that any further duty would lead to price rise of phenol, which is a major raw material for the industry. ILMA and FIPPI presented detailed data showing that there is a gap between demand and supply of domestically produced phenol and that domestic phenol producers are unable to meet industry requirement. Thus safeguard duty on import of phenol would instigate further price rise of finished products in India, it added.
On 13 April 2020, Government of India decided to terminate the safeguard investigation concerning import of phenol into India. In its notification, the Department of Commerce Ministry of Commerce & Industry Directorate General of Trade informed that since the applicants have withdrawn the application, it is considered appropriate not to continue with the present investigation. Accordingly the Director General terminated the present safeguard investigation concerning imports of “phenol” into India.