Anti-dumping duty on Chinese tyre machinery
The Government has imposed a 10 percent anti-dumping duty on Chinese tyre manufacturing machinery to safeguard the interest of domestic players.
New Delhi: The Government has imposed a 10 percent anti-dumping duty on Chinese tyre manufacturing machinery to safeguard the interest of domestic players.
The duty imposed on tyre vulcanisers or rubber processing machineries for tyres is 10 percent of the landed value of the product, a Finance Ministry notification said.
After concluding that imports from China are taking place at dumped prices and have caused material injury to the domestic industry, the Directorate General of Anti-Dumping and Allied Duties (DGAD) -- the nodal agency under the Commerce Ministry--has recommended anti-dumping duty on these imports.
The Government in the past had imposed anti-dumping duties on several other products including yarns, fabrics, colour picture tubes, some aluminum products and chemicals from various other markets.
According to the RBI, China has emerged as the largest source of imports for the country in the last two years.
Imports from China jumped to USD 32.49 billion in 2008-09 from USD 12.64 billion in 2006-07.
Unlike safeguard duties, which is levied in a uniform way, anti-dumping duty varies from product to product and country to country.