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India has extended an anti-subsidy duty on a specific Chinese chemical for five years. This move is designed to protect domestic producers from what the Indian government considers unfair competition from Chinese companies. The chemical in question is not explicitly mentioned in the article, but it is understood to be a crucial component in various industries. The anti-subsidy duty was first imposed in 2018 and has been extended several times. This latest extension signals India's continued commitment to safeguarding its domestic manufacturing sector. The decision is likely to have significant implications for the Chinese chemical industry, potentially hindering its ability to export to the Indian market. The extension is also likely to further fuel the existing trade tensions between India and China, as both countries have been engaged in a protracted economic rivalry. This move comes at a time when India is actively promoting domestic manufacturing under its 'Make in India' initiative. The government's efforts to protect domestic industries from foreign competition are a key component of this initiative. While India has been vocal about its commitment to free trade, it has also taken steps to shield its industries from unfair competition. The extension of the anti-subsidy duty on the Chinese chemical highlights this complex approach to trade policy, where the Indian government seeks to balance the benefits of free trade with the need to protect domestic industries.
Source: India extends anti-subsidy duty on Chinese chemical for 5 years