DGAD recommends anti-dumping duty on Chinese tyres
DSIJ Intelligence / 03 Aug 2017
The Directorate General of Anti-Dumping and Allied Duties (DGAD) has recommended the imposition of anti-dumping duty on truck and bus radial (TBR) tyres imports from China.
The Directorate General of Anti-Dumping and Allied Duties (DGAD) has recommended the imposition of anti-dumping duty on truck and bus radial (TBR) tyres imports from China.
The authority has concluded that TBR has been exported to India from China below normal prices, affecting material injury to the domestic industry.
The authority has also recommended imposition of anti-dumping duty on exporter-specific basis in its report and ranging from USD 245.35 to USD 452.33 per tonne.
Meanwhile, tyre stocks, namely Apollo Tyres slipped 1.37% at Rs 273.50 per share, JK Tyre Industries slipped 1.92% at Rs 166.05 per share, CEAT slipped 0.57% at Rs 1,915.15 per share and Balkrishna Industries slipped 1.15% at Rs 1,600.00 per share.
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
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