"The Indian industry must be able to show that dumped imports are causing or are threatening to cause material injury to the Indian domestic industry." Discuss by highlighting two major areas.

The Indian Industry must be able to show that dumped imports are causing and threatening to cause material injury to the Indian 'domestic industry'. Material retardation to the establishment of an industry is also regarded as injury. Sufficient evidence must be provided into two major areas: (i) The Volume Effect: The authority examines the volume of the dumped imports, including the extent to which there has been or is likely to be a significant increase in the volume of dumped imports, either in absolute terms or in relation to production or consumption in India and its affect on the domestic industry. (ii) The Price Effect: The effect of the dumped imports on prices in the Indian Market for similar articles including existence of price undercutting or the extent to which the dumped imports are causing price depression or preventing price increase for the goods which otherwise would have occurred. The consequent economic and financial impact of the dumped imports on the concerned Indian Industry can be demonstrated, inter alia by: Decline in output Loss of sales Loss of market share Reduced profits Decline in productivity Decline in capital utilization Reduced return on Investments Price effects Adverse effect on cash flow, inventories, employment, wages, growth, etc. Thus, injury analysis is a detailed and intricate examination of all the relevant factors. It is not necessary that all the factors concerned relevant should individually show injury to the domestic industry.