India initiates process for safeguard duty on BE Filament Yarn; WTO informed
Updated: Mar 07, 2014 04:12:30pm
New Delhi, Mar 7 (KNN) India has notified the World Trade Organization (WTO) that it has initiated investigation for safeguard duty to protect interests of the domestic industries against cheap imports of industrial product Bare Electronic Filament Yarn (BEFY).
In its notification to the WTO, the Indian authorities said that the investigation has been launched following a petition from the domestic industry which alleged ‘serious injury’ and threat caused by increased import of the product into India.
As a result, the capacity utilization of the local industry has declined and its profitability deteriorated leading to financial losses.
“Accordingly, it has been found that prima facie increased imports of the BEFY have caused or threatening to cause serious injuries to the domestic producers. Hence, it has been decided to initiate the investigation.”
The investigation is being done by the Director General (Safeguard) in New Delhi.
Filament yarns are yarns that are produced from continuous filament fibres either twisted together or only grouped together.
Earlier in February, a simple investigation was launched with regard to saturated fatty alcohols. (KNN/PC)
In its notification to the WTO, the Indian authorities said that the investigation has been launched following a petition from the domestic industry which alleged ‘serious injury’ and threat caused by increased import of the product into India.
As a result, the capacity utilization of the local industry has declined and its profitability deteriorated leading to financial losses.
“Accordingly, it has been found that prima facie increased imports of the BEFY have caused or threatening to cause serious injuries to the domestic producers. Hence, it has been decided to initiate the investigation.”
The investigation is being done by the Director General (Safeguard) in New Delhi.
Filament yarns are yarns that are produced from continuous filament fibres either twisted together or only grouped together.
Earlier in February, a simple investigation was launched with regard to saturated fatty alcohols. (KNN/PC)
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