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Leather units await EU action on anti-dumping duty
06 Apr '06
2 min read
After investigations were carried out by EU team, units are awaiting its decision to impose anti-dumping duties on major Indian leather companies.
Inquiry was ordered by the EU last July based on complaints of dumping by exporters from India and China.
The enquiry ordered by EU was then supposed to be concluded within nine months.
A Director of Super House Leathers said the EU would announce some anti-dumping duty.
The duty is expected to be around 19.75 percent a having duration of five years.
After imposition of duty, Indian leather industry would have a difficult time competing with Chinese firms, he said.
He explained that anti-dumping probe was brought in by Italy as its leather industry was suffering due to competition from India, China and other countries.
The EGBM passed a resolution for the company to carry on manufacturing, importing, exporting and dealing in all kinds of fresh food, frozen food, grain, pulses, meat, dairy products, fruits, and spices.
Resolution to issue Employee Stock Option Scheme (ESOS) was also passed.
The Board of Directors was authorized to issue, offer and allot 400,000 equity stock options for employees.
Super House Leather expects to achieve a turnover of Rs 230 crore, marginally improving on previous year's turnover of Rs 220.75 crore.
Inquiry was ordered by the EU last July based on complaints of dumping by exporters from India and China.
The enquiry ordered by EU was then supposed to be concluded within nine months.
A Director of Super House Leathers said the EU would announce some anti-dumping duty.
The duty is expected to be around 19.75 percent a having duration of five years.
After imposition of duty, Indian leather industry would have a difficult time competing with Chinese firms, he said.
He explained that anti-dumping probe was brought in by Italy as its leather industry was suffering due to competition from India, China and other countries.
The EGBM passed a resolution for the company to carry on manufacturing, importing, exporting and dealing in all kinds of fresh food, frozen food, grain, pulses, meat, dairy products, fruits, and spices.
Resolution to issue Employee Stock Option Scheme (ESOS) was also passed.
The Board of Directors was authorized to issue, offer and allot 400,000 equity stock options for employees.
Super House Leather expects to achieve a turnover of Rs 230 crore, marginally improving on previous year's turnover of Rs 220.75 crore.
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