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India probing dumping of polyester yarn by China
28
Jun '17
Indian government is probing anti-dumping allegations against a select Chinese polyester yarn following complaints from SRF and Reliance Industries. The Directorate General of Anti-dumping and Allied Duties (DGAD), has "sufficient" evidence of dumping of high tenacity polyester yarn from the neighbouring nation, according to an agency report.

SRF and Reliance Industries have alleged dumping of the yarn and asked for an investigation into the matter. If established that dumping has caused material injury to domestic players, the DGAD will recommend imposition of anti- dumping duty. Anti-dumping duties are levied to provide a level playing field to local industry by guarding against cheap, below-cost imports, the report said.

The probing authority "hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry", the DGAD, under the commerce ministry, said in a notification.

The investigation will cover the period from April 2016 to March 2017. These yarns are used for manufacture of tyre cord fabric, seat belt webbing, slings, ropes, coated fabric and conveyor belt fabric, according to the report.

Increasing imports and dumping of goods from China have always been a concern for Indian companies. Exports to China were only USD 9 billion in 2015-16, but imports totalled USD 61.7 billion in the fiscal.

The DGAD is also probing dumping of several other products such as chemicals from China.

India is one of the most attractive markets for global producers due to its large middle class population. Imposition of anti-dumping duty is permissible under the Geneva-based World Trade Organisation (WTO) regime, of which both India and China are members. (SV)

Fibre2Fashion News Desk – India


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