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What measures is India implementing to counteract the impact of increased Chinese imports on its economy?
- a)Reducing tariffs on Chinese goods
- b)Collaborating exclusively with neighboring countries
- c)Imposing anti-dumping and anti-subsidy duties
- d)Completely banning all imports from China
Correct answer is option 'C'. Can you explain this answer?
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What measures is India implementing to counteract the impact of increa...
Impact of Increased Chinese Imports on India's Economy
India has been facing challenges due to a surge in imports from China, which has implications for local industries and the economy. To address these issues, the Indian government has implemented several measures, among which imposing anti-dumping and anti-subsidy duties stands out as a key strategy.
Understanding Anti-Dumping and Anti-Subsidy Duties
- Anti-dumping duties are tariffs imposed on foreign imports priced below fair market value, which helps protect domestic industries from unfair competition.
- Anti-subsidy duties are imposed on goods that benefit from foreign government subsidies, counteracting the advantage these goods have over local products.
Reasons for Implementing These Measures
- Protecting Domestic Industries: By imposing these duties, India aims to safeguard its manufacturing sectors, allowing local businesses to compete more effectively against cheaper Chinese imports.
- Encouraging Local Production: The duties incentivize domestic production and investment, helping to boost the overall economy and create jobs.
- Balancing Trade Deficit: With China being a significant trading partner, these measures help in addressing the trade imbalance, thus enhancing economic stability.
Conclusion
While reducing tariffs or completely banning imports may seem tempting, such approaches could lead to retaliation or disrupt supply chains. The strategy of imposing anti-dumping and anti-subsidy duties is a more balanced approach, aimed at protecting local industries while still engaging in necessary trade. This method not only addresses immediate economic concerns but also promotes sustainable growth for India's manufacturing sector.
India has been facing challenges due to a surge in imports from China, which has implications for local industries and the economy. To address these issues, the Indian government has implemented several measures, among which imposing anti-dumping and anti-subsidy duties stands out as a key strategy.
Understanding Anti-Dumping and Anti-Subsidy Duties
- Anti-dumping duties are tariffs imposed on foreign imports priced below fair market value, which helps protect domestic industries from unfair competition.
- Anti-subsidy duties are imposed on goods that benefit from foreign government subsidies, counteracting the advantage these goods have over local products.
Reasons for Implementing These Measures
- Protecting Domestic Industries: By imposing these duties, India aims to safeguard its manufacturing sectors, allowing local businesses to compete more effectively against cheaper Chinese imports.
- Encouraging Local Production: The duties incentivize domestic production and investment, helping to boost the overall economy and create jobs.
- Balancing Trade Deficit: With China being a significant trading partner, these measures help in addressing the trade imbalance, thus enhancing economic stability.
Conclusion
While reducing tariffs or completely banning imports may seem tempting, such approaches could lead to retaliation or disrupt supply chains. The strategy of imposing anti-dumping and anti-subsidy duties is a more balanced approach, aimed at protecting local industries while still engaging in necessary trade. This method not only addresses immediate economic concerns but also promotes sustainable growth for India's manufacturing sector.
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What measures is India implementing to counteract the impact of increa...
India is responding to the challenge posed by increased Chinese imports by imposing anti-dumping and anti-subsidy duties. These measures aim to protect local industries from unfair competition and stabilize the trade balance. Additionally, India is seeking to enhance its domestic manufacturing capabilities and reduce reliance on imports. An interesting fact is that despite these measures, India's imports from China have continued to rise significantly, highlighting the complexity of global trade dynamics.
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What measures is India implementing to counteract the impact of increased Chinese imports on its economy?a) Reducing tariffs on Chinese goodsb) Collaborating exclusively with neighboring countriesc) Imposing anti-dumping and anti-subsidy dutiesd) Completely banning all imports from ChinaCorrect answer is option 'C'. Can you explain this answer?
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What measures is India implementing to counteract the impact of increased Chinese imports on its economy?a) Reducing tariffs on Chinese goodsb) Collaborating exclusively with neighboring countriesc) Imposing anti-dumping and anti-subsidy dutiesd) Completely banning all imports from ChinaCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for What measures is India implementing to counteract the impact of increased Chinese imports on its economy?a) Reducing tariffs on Chinese goodsb) Collaborating exclusively with neighboring countriesc) Imposing anti-dumping and anti-subsidy dutiesd) Completely banning all imports from ChinaCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of What measures is India implementing to counteract the impact of increased Chinese imports on its economy?a) Reducing tariffs on Chinese goodsb) Collaborating exclusively with neighboring countriesc) Imposing anti-dumping and anti-subsidy dutiesd) Completely banning all imports from ChinaCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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