Product description: Toluene DiIsocyanate (TDI) having isomer content in the ratio of 80:20.

HS Code: Under Chapter 29 under the customs code 29291020.

Countries: European Union and Saudi Arabia.

Applicant: Gujarat Narmada Valley Fertilizers and Chemicals Limited.

Date of Initiation: 30^th December 2024

Period of Investigation: 1^st April 2023 to 30^th June 2024 (15 months)

Injury period: 2020-21, 2021-22. 2022-23 and the period of investigation.

Margins and recommended duties

SN	Country	Dumping Margin	Injury Margin	Duty
1.	European Union
a.	BorsodChem Zrt.,	90-100%	50-60%	$102.05 /MT
b.	Covestro Deutschland AG	20-30%	Negative	$221.04 /MT
c.	Any other	110-120%	60-70%	$264.96/MT
2.	Saudi Arabia
a.	Sadara Chemical Company	50-60%	70-80%	$217.55 /MT
b.	Any other	60-70%	80-90%	$344.33 /MT

Key Findings:

1. The product under consideration in the present investigation is Toluene DiIsocyanate (TDI), having isomer content in the ratio of 80:20.
2. The applicant is the sold producer of the product under investigation in India.
3. The dumping margin for participating producers and exporters from subject countries are more than de minimis, and significant.
4. There is a continuation of dumping of the product under consideration in the POI of the review investigation, and the investigation has shown that the dumping of the product is likely to continue in event of expiry of duties.
5. The imports from subject countries declined till 2022-23 but increased in period of investigation.
6. The landed price of the imports of subject goods from subject countries is below the cost of sales of the domestic industry and the domestic industry has sold at significant financial losses.
7. The domestic industry has not claimed volume injury in the present investigation in the form of possible adverse effects of imports on production, sales, capacity utilization, market share of the domestic industry.
8. The market share of imports from the subject countries has declined till 2022-23 and recorded marginal increase in the period of investigation.
9. The market share of imports from the non-subject countries attracting duties have increased in 2021-2022, increased further in 2022-2023 and declined in period of investigation.
10. The domestic industry has suffered losses, loss before interest, cash loss and negative return on capital employed in the period of investigation.
11. Average inventory of the domestic industry has increased over the injury period.
12. The growth of the domestic industry during the period of investigation and preceding year has been negative on various price parameters compared to earlier years.
13. Producers in the subject countries are operating with significantly high idle capacities. The idle capacities for producers and exporters from subject countries are very significant, and more than Indian demand.
14. Producers in the subject country have set up capacities which are far higher than domestic demand and are utilizing these capacities for export purposes.
15. The imposition of duty has not had any adverse effect on the downstream industry. Therefore, continuation of duty will not be against public interest at large.