India Imposes Anti-Dumping Duty On Select Tyres From China
India has imposed an anti-dumping duty on a certain types of unused radial tyre for trucks and buses for the next five years in an attempt to protect the domestic tyre industry from low-cost Chinese imports.
The duty slapped on “new/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having nominal rim dia code above 16 (inch),” ranges between $245.35 to $452.33 per tonne, according to a notification by the Central Board of Excise and Customs.
“The domestic industry has suffered material injury on account of subject imports from the subject country,” said the notification.
Earlier, the Directorate General of Anti-dumping and Allied Duties had suggested such as levy on Chinese imports which are dumped in India for a cost “below normal value”. While the duty does not ban the import of these goods, it is meant as a tool that levels the field between the foreign and domestic industry.
India has also imposed similar duties on import of several other products, including steel, fabrics and chemicals from different countries such as China.
Big Boost
The industry gets nearly 55 percent of its revenue from trucks and buses radial tyres, according to brokerage house Macquarie. “These companies could potentially see a good margin improvement in the case of an anti-dumping duty is slapped on Chinese tyre leading to an earnings upgrade,” it had said in August.
Impact Of Chinese Tyres
Imported truck and bus radials account for 40 percent of replacement demand in India and nearly 92 percent of such imported tyres come from China. Lower pricing due to overcapacity, slower demand in China has to lead to dumping of these tyres in markets like India and the U.S.
With inputs from PTI
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