Financial Daily from THE HINDU group of publications
Thursday, Jul 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 29, 2004 |
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Industry & Economy
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Anti-dumping Dumping duty on nylon tyre cords from China K.R. Srivats
New Delhi , July 28 THE Finance Ministry has imposed provisional anti-dumping duty on all imports of nylon tyre cord fabric (NTCF) from China. The anti-dumping duty of $0.69 (Rs 31.96) per kg will also be applicable on NTCF from China and exported to India from any country other than China. The duty will be effective up to January 25, 2005. Similarly, provisional anti-dumping duty will also be levied on NTCF from any country other than China and exported to India from China. Industry sources said that the domestic tyre industry consumed about 85,000 tonnes of NTCF during 2003-04. The domestic production of the nylon cord that year was about 40,000 tonnes. Imports of NTCF from China stood at about 13,000 t during 2003-04. An industry official said the dumping levy would result in "some cost push" on the raw material front. NTCF is used as reinforcement in different types of tyres including truck and bus, light commercial vehicle and two-wheeler tyres. The Association of Synthetic Fibre Industry had petitioned to the Designated Authority for initiating an anti-dumping probe on NTCF imports from China. The authority had recommended imposition of provisional anti-dumping duty of $0.69 per kg on NTCF imports from China.
More Stories on : Anti-dumping | Tyres
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