Anti-dumping duty imposed on jute sacking cloths from Bangladesh
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India has imposed anti-dumping duty on the import of jute sacking cloths from Bangladesh which will have a positive impact on West Bengal's ailing jute sector.
"Anti-dumping duty on sacking cloth from Bangladesh was our long standing demand to save the Indian jute sector.
With active efforts of Union Textile Minister Smriti Irani, this has been achieved," jute industry veteran Sanjay Kajaria said in his reaction.
"It will be applicable for 5 years effective from June 18, 2019," he said.
This will help jute farmers and the jute mills of West Bengal which are ailing or running in a very low capacity, Kajaria said.
The IJMA had filed an application for initiation of anti-circumvention investigation concerning import of the product exported from Bangladesh.
It has requested for extension of the existing anti- dumping duties on the imports, alleging circumvention of the duty.
Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in cheap imports.
Jute sacking accounts for the lion share of the total jute goods. The notification showed anti-dumping duty imposed between USD 125.21 and 138.97 per tonne.
Currently, the duty exists on jute yarn, sacking bags and hessian fabric (made from skin of jute plant) and imposed in the range of USD 6.3-351.7 per tonne.
Source: https://www.businesstoday.in
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