(RTTNews) - India has imposed anti-dumping duty ranging from 7.46 percent to 40.91 percent on the CIF (cost, insurance and freight) value of imports of glass fibre from China to protect domestic players. The duty was imposed on the recommendations of the Directorate General of Anti-Dumping and Allied Duties or DGAD, a nodal agency under the Commerce Ministry, after an investigation, reports said.
The glass fibre is used in automobiles, electrical insulation and heat resistant fabrics, reports said.
The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of imposition of the provisional anti-dumping duty (July 14, 2010), the Department of Revenue said.
The country already imposed duty on imports of fabric, yarn, nylon tyre cord and several chemicals from China.
Anti-dumping duty is recommended by the Commerce Ministry, while the Finance Ministry imposes the same.
Unlike safeguard duties, which are levied in a uniform way, anti-dumping duties vary from product-to-product and from country-to-country. Countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in cheap imports.
As a counter-measure, they impose duties under the multilateral WTO regime. Anti-dumping measures are taken to ensure fair trade and provide a level playing field to domestic players. It is not a measure to restrict imports or cause an unjustified increase in the cost of products.
