Govt imposes anti-dumping duty for 5 years on nylon filament yarn import from Vietnam, EU
India has imposed an anti-dumping duty of up to $719 per tonne for five years on import of nylon filament yarn from the European Union (EU) and Vietnam following recommendations by the commerce ministry's investigation arm DGTR.
New Delhi: India has imposed an anti-dumping duty of up to $719 per tonne for five years on import of nylon filament yarn from the European Union (EU) and Vietnam following recommendations by the commerce ministry's investigation arm DGTR.
"The anti-dumping duty imposed... shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the 6th day of October, 2018 and shall be paid in Indian currency," the department of revenue has said in a notification.
The Directorate General of Trade Remedies (DGTR) in its probe has stated that nylon filament yarn (multi filament) has been exported to India from these two regions below normal values, and the domestic industry has suffered material injury on account of such dumped imports.
Imposition of duty aims at guarding domestic manufacturers of this yarn from cheap imports coming from EU and Vietnam.
The anti-dumping duty imposed ranged between $719.44 per tonne and $128.06 per tonne.
Import of this yarn from the EU and Vietnam has increased to 13,799 tonnes during October 2015 March 2017 (which was the period of investigation) from 7,201 tonnes in 2013-14.
JCT, Gujarat Polyfilms, Gujarat State Fertilizers and Chemicals, Prafful Overseas and AYM Syntex had jointly filed for initiation of the investigations and imposition of the duty.
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 DGTR 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 cost of the products.
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