The proposed duty ranges between USD 174 and USD 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 the before the DGAD for initiation of the antidumping investigation.
DGAD has said in a notification that, "The authority recommends imposition of antidumping duty for a period of five years, to address the injury to the domestic industry.â€ Directorate General of Anti-dumping and Allied Duties (DGAD), the commerce ministry's investigation arm, in its final findings of 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 government may impose anti-dumping duty of up to USD 528 per tonne for 5 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.
This yarn, also called as industrial yarn, is used for manufacture of tyre cord fabric, coated fabric, conveyor belt fabric, seat belt webbing, ropes, and automotive hose.
Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in below-cost imports. They impose duties under the multilateral regime of WTO, as a counter measure.
The duty is also directs making certain about fair trading practises and creating a level playing field for domestic producers with regards to foreign producers and exporters.
India has already imposed anti-dumping duty on several products to check cheap imports from countries including China, with which India has a major concern of widening trade deficit. The deficit has increased to USD 63.12 billion in 2017-18 from.
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