India may impose anti-dumping duty on imports of nylon filament yarn from EU, Vietnam
Imposition of duty aims at guarding domestic manufacturers of this yarn from cheap imports coming from the European Union and Vietnam.
India may impose an anti-dumping duty of up to USD 719 per tonne for five years on imports of nylon filament yarn from the European Union and Vietnam following recommendations by the commerce ministry's investigation arm DGAD.
In its final findings of the probe, the directorate has concluded that the product has been exported to India from these countries below normal values and that the domestic industry has suffered a material injury on account of such dumped imports.
"The Authority recommends imposition of definitive anti-dumping duty...so as to remove the injury to the domestic industry," the DGAD has said in a notification.
The final view to imposing the duty would be taken by the Finance Ministry soon.
Five domestic firms including JCT Ltd, Gujarat Polyfilms Pvt Ltd, and AYM Syntex had filed an application for initiation of the investigations.
The major uses of this yarn are in home furnishing and industrial application such as curtains, sewing and embroidery thread, and fishnets.
To recommend duties, the DGAD in its probe would have to establish that dumping has caused material injury to domestic players.
Anti-dumping duties are levied to provide a level playing field to the local industry by guarding against below-cost import.
Imposition of anti-dumping duty is permissible under the World Trade Organization (WTO) regime. Both India and China are members of the Geneva-based body.
The duty is aimed at ensuring fair trading practices and creating a level playing field for domestic producers vis-a-vis foreign producers and exporters. They are not a measure to restrict import or cause an unjustified increase in the cost of products.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)