Comments
The Finance Ministry has extended by six months the validity of existing anti-dumping duty on Nylon Tyre Cord Fabric (NTCF) imports from China.
It may be recalled that Finance Ministry had in June 2015 imposed definitive anti-dumping duty that ranged from $ 0.52 a kilogram to $ 1.10 a kilogram on NTCF imports from China for a period of five years. This anti-dumping duty has now been extended by six months-- till December 11 this year.
This move of the revenue department follows sunset review investigation initiated by the Designated Authority in the Commerce Ministry, which had recommended that anti dumping duty be extended by six months, official sources said.
The petition seeking Sunset Review investigations was filed by the Association of Synthetic Fibre Industry on behalf of two of its member companies-- SRF Limited and Century Enka Ltd.
NTCF finds application in different kinds of automotive tyres such as bus and truck tyres, two wheeler tyres, light commercial vehicle tyres and cycle tyres.
This is not the first time that NTCF imports from China are facing anti-dumping action. Ever since 2003, there has been anti-dumping action/investigation against NTCF imports from China, tyre industry observers said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.