India to Impose ADD on Polyester Yarn from China
The government may impose anti-dumping duty of up to $528 per tonne for five years on a Chinese polyester yarn, used in automobile and other industries, to provide a level playing field to domestic players and guard them against below-cost imports.
The commerce ministry’s investigation arm, the Directorate General of Anti-dumping and Allied Duties (DGAD), in its final findings of a probe has stated that that the imposition of antidumping duty is required to offset dumping and injury on the imports of High Tenacity Polyester Yarn from China.
“The authority recommends imposition of antidumping duty...for a period of five years, so as to address the injury to the domestic industry,” the DGAD has said in a notification, and recommended a duty ranging between $174 and $528 per tonne. The decision to finally impose the duty was taken by the Finance Ministry.
SRF Ltd. and Reliance Industries Ltd. had jointly filed a petition before the DGAD for initiation of the antidumping investigation.
High Tenacity Polyester Yarn is used for manufacture of tyre cord fabric, seat belt webbing, ropes, coated fabric, conveyor belt fabric and automotive hose.
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