India imposes anti-dumping duty on import of nylon filament yarn for 5 yrs from Vietnam and EU to protect domestic manufacturers
New Delhi, Oct 10 (KNN) In a bid to protect domestic manufacturers of yarn from cheap imports coming from European Union (EU) and Vietnam, India has imposed an anti-dumping duty for 5 years on import of nylon filament yarn from the above mentioned countries.
The move has been taken by the Commerce Ministry’s investigation arm Directorate General of Trade Remedies (DGTR).
The Department said “The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the 6th day of October, 2018 and shall be paid in Indian currency.”
The anti dumping duty has been imposed of up to USD 719 per tonne on the import of nylon filament yarn.
The DGTR in its probe has stated that nylon filament yarn (multi filament) has been exported to India from these two regions below normal values, and the domestic industry has suffered material injury on account of such dumped imports.
Imposition of duty aims at guarding domestic manufacturers of this yarn from cheap imports coming from EU and Vietnam.
The anti-dumping duty imposed ranged between USD 719.44 per tonne and USD 128.06 per tonne.
Import of this yarn from the EU and Vietnam has increased to 13,799 tonnes during October 2015 March 2017 (which was the period of investigation) from 7,201 tonnes in 2013-14.
The major uses of this yarn are in home furnishing and industrial application such as curtains, sewing and embroidery thread and fishnets.
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.