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India imposes anti-dumping duty on Chinese polyester yarn

Press Trust of India  |  New Delhi 

has imposed anti-duty of up to USD 528 per tonne for 5 years on a Chinese used in automobile and other industries.

The move will provide a level playing field to domestic players and guard them against below-cost imports.

Commerce Ministry's investigation arm of Anti-and Allied Duties (DGAD) had recommended the duty after a probe into alleged of 'High Tenacity Yarn' from

The probe followed complaints by the domestic players, who alleged that below-cost import of the from is hurting the industry in

The ministry has imposed the duty on the product after considering the recommendations of DGAD.

"The anti-dumping duty imposed...shall be effective for a period of five years (unless revoked, superseded or amended earlier) and shall be paid in Indian currency," the Ministry said in a notification.

The duty imposed is in the range of USD 174-528 per tonne.

High Tenacity Yarn, also called industrial yarn, is used for manufacture of tyre cord fabric, seat belt webbing, ropes, coated fabric, conveyor belt fabric 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.

As a counter measure, they impose duties under the multilateral regime of WTO.

The duty is also aimed at ensuring fair trading practises and creating a level-playing field for domestic producers with regard to foreign producers and exporters.

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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 15:20 IST