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India extends anti-dumping duty on Chinese POY
12 May '17
1 min read
The Indian government has extended the existing anti-dumping duty of $542.22 per tonne on partially-oriented yarn (POY) imports from China. The duty would now be applicable till May 1, 2018. POY is used as a raw material in the man-made fibre industry. It is further processed through texturising or draw twisting before being used for weaving or knitting.
The ministry of finance had imposed anti-dumping duty on Chinese POY for a period of five years beginning May 2, 2012. A sunset review was initiated by the designated authority in the ministry of commerce, following a request filed by Reliance Industries Ltd, according to a leading daily report.
The request for sunset review was supported by few other companies including Indo Rama Synthetics (India) Ltd, Alok Industries Limited, Garden Silk Mills Ltd and JBF Industries Limited.
The decision of the revenue department, under the ministry of finance, to extend anti-dumping duty for another one year came in ten days after the sunset review investigation was initiated. (RKS)
Fibre2Fashion News Desk – India
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