Indian yarn manufacturers can heave a sigh of relief with the union government imposing anti-dumping duty for a span of 5 years on import of nylon filament yarn from the European Union (EU) and Vietnam. This move is expected to protect domestic yarn manufacturers against cheap imports.
The Union Commerce ministry set this move in action under the aegis of its investigation arm, namely Directorate General of Trade Remedies (DGTR).
The duty is applicable with effect from October 6, 2018 and is required to be paid in Indian currency. Stating the five year period for the validity of the duty norms, the department specified that the duty will be applicable unless revoked, suspended or amended before the tenure.
The department has imposed a duty with a ceiling of USD 719 per tonne on imported nylon filament yarn. The decision is consequent to the findings of the DGTR probe that the imports from the EU and Vietnam had caused serious injury to the domestic industry as they were at below normal values.
Imposition of duty aims at guarding domestic manufacturers of this yarn from cheap imports coming from EU and Vietnam.Nylon yarn is used majorly in home furnishing besides industrial applications like curtains, sewing, embroidery, thread and fishnets.