The export of hydrogen peroxide to India is expected to see a boost in the coming days as the neighboring country has revoked the anti-dumping duty on import of the chemical produced in Bangladesh.
From now on, the Bangladeshi exporters need not to pay any anti-dumping duty while shipping the chemical to India.
The finance ministry of India issued a gazette notification in this regard, saying that the same will be applicable for hydrogen peroxide imports from Taiwan, South Korea, Indonesia, Pakistan and Thailand.
The ministry’s department of revenue had imposed the anti-dumping duty in June 2017.
According to the Export Promotion Bureau (EPB), Bangladesh earned Tk 2.07 billion ($20 million) by exporting the chemical in the first ten months of the fiscal year 2021-22, with an year-on-year growth of more than 23 per cent.
The EPB also said that the Bangladeshi traders exported the chemical to 14 countries in the outgoing fiscal, with India, Pakistan and Vietnam receiving the lion’s share.
Hydrogen peroxide is normally used in textile and other industries. Countries with garment factories are the major importers of the chemical produced in Bangladesh.
The government provides a 10 per cent subsidy in the export of hydrogen peroxide.