A Chinese polyester yarn has been imposed anti-dumping duty up to US$ 528 per tonne for 5 years by India. The polyester yarn was mainly used in automotive and several other industries. This initiative has been taken to help the domestic players and protect them against below cost imports.
DGAD, Commerce Ministry’s investigation arm Directorate General of Anti-dumping and Allied Duties recommended the duty after a research of the alleged dumping of high tenacity polyester yarn being imported from China. It is also known as industrial yarn which is used for manufacturing tyre cord fabric, ropes, seat belt webbing, conveyor belt fabric, coated fabric and automotive hose.
The finance ministry said, “The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier) and shall be paid in Indian currency”.
The duty is aimed to ensure fair trading practices and to create a level playing field for the domestic manufacturers with regard to exporters as well as foreign producers.