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Govt extends anti-dumping duty on Chinese fasteners
10
Oct '16
The revenue department, under ministry of finance, Government of India, has extended anti-dumping duty for another five years on import of “narrow woven fabrics hook and loop velcro tapes” from China. These products are used garment manufacturing, shoes and footwear, luggage/bags, toys, automobile upholstery and other industrial segments.

The anti-dumping duty on these products would be $1.87 per kilo. This duty has been imposed by the Central Board of Excise and Customs (CBEC), based on recommendations of the Directorate General of Anti-Dumping & Allied Duties (DGAD).

The DGAD gave its nod for continuation of the levy, after its second sunset review of the anti-dumping duty in force on the imports. The duty was first extended by the revenue department in October 2010, for a period of five years till October 2015. However, before the expiry of five years, DGAD received an application from Ishi Industries for another sunset review.

Following this, DGAD initiated the review investigation the same month 2015 to examine whether the expiry of the duty on the import is likely to lead to continuation or recurrence of dumping and injury to the domestic industry.

The hook and loop tape fasteners, on which the duty will continue, are also known as velcro tapes, fastening tapes, or fasteners. (RKS)

Fibre2Fashion News Desk – India

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