[ad_1]
Through the COVID-19 pandemic, we nonetheless obtain excellent news that Indonesian isopropyl alcohol is exempt from safeguard duties in India. Certainly, we should capitalize on it as appropriately as attainable to extend nationwide exports.
Jakarta (ANTARA) – Commerce Minister Muhammad Lutfi has welcomed India’s choice to not impose safeguard responsibility on Indonesia’s isopropyl alcohol.
“Through the COVID-19 pandemic, we nonetheless obtain excellent news that Indonesian isopropyl alcohol is exempt from safeguard duties in India. Certainly, we should capitalize on it as appropriately as attainable to extend nationwide exports,” the minister famous in a written assertion launched on Tuesday.
The Indian Directorate Basic of Commerce Cures (DGTR) arrived on the choice to exempt Indonesian isopropyl alcohol from safeguard responsibility after concluding its last investigation on September 30, 2021. The results of the investigation was contained in a doc.
In accordance with the doc, isopropyl alcohol imported from growing international locations, together with Indonesia, whose market share is beneath three %, is exempt from safeguard responsibility.
Isopropyl alcohol, also called isopropanol, or 2-propanol, is a colorless, inflammable chemical compound, with a pointy musty odor. Isopropyl alcohol is used for various functions, each as an finish product or intermediate product.
Associated information: Indonesia asks India to calm down permits for export of COVID medication
It was reported earlier that the rise in India’s isopropyl alcohol imports had triggered losses or risk of losses to the home business.
The Directorate Basic of Commerce Cures arrived on the conclusion that quantitative restrictions had been deemed crucial to guard the home business from struggling losses.
“Indonesia didn’t contribute to the rise in India’s isopropyl alcohol imports that immediate the initiative to conduct a safeguard investigation, so Indonesian isopropyl alcohol can proceed to compete within the Indian market,” performing Director Basic of International Commerce on the Commerce Ministry Indrasari Wisnu Wardhana acknowledged.
In accordance with Statistics Indonesia (BPS), export markets for Indonesian isopropyl alcohol are Thailand, Vietnam, Hong Kong, India, and Singapore.
Through the January-August 2021 interval, Indonesia’s isopropyl alcohol exports plunged 98.08 % from the corresponding interval final yr. In 2020, India imported 8,320 kilograms of isopropyl alcohol from Indonesia, a rise of 1,633 % from the earlier yr.
Associated information: Petrokimia exports 188,000 tons of NPS fertilizer to India in 2019
[ad_2]
Source link