India may impose anti-dumping duty on a certain type of fibre imported from European Union, Belarus, Ukraine and Peru as the commerce ministry’s arm DGTR has recommended for the same after conducting a probe.
Directorate General of Trade Remedies (DGTR) in its findings concluded that acrylic fibre from these countries has been exported at below its associated normal value, which has resulted in dumping.
The domestic industry has suffered material injury due to dumping of the product by these nations, according to a notification of DGTR.
“Definitive anti-dumping duty...is recommended to be imposed for five years,” it said.
The duty recommended is in the range of USD 114.97 per tonne and USD 212.98 per tonne.
Acrylic fibre is lightweight, soft and warm with a wool-like feel. It is used in making sweaters, tracksuits, gloves, furnishing fabrics and carpets.
Anti-dumping duties are levied to provide a level playing field to local industry by guarding against cheap below-cost imports.
Countries dump products in India as it is one of the most attractive markets for global producers due to its large middle-class population.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)