New Delhi: The Commerce Ministry has launched an investigation to find out if there was any significant increase in imports of phenol that were impacting the domestic industry.
The Directorate General of Trade Remedies (DGTR) under the ministry would look into the imports of the chemical to determine any evidence for a possible start of a safeguard investigation.
According to the DGTR, the probe will find if there is any significant jump in imports and it has caused any harm to domestic producers or competing products.
Phenol is used in making products like laminates and plywood.
The DGTR mentioned that it prima facie finds that unforeseen developments such as global oversupply and trade measures imposed by China against major Phenol producing countries have pushed up imports.
“After determining that there is sufficient evidence to justify initiation of safeguard investigation, the director-general initiates an investigation,” the DGTR said.