New Delhi, January 6: On Thursday government imposed an anti-dumping duty on imports of jute and its products from Bangladesh and Nepal for five years. Anti-dumping duty ranging from USD 6.30 to USD 351.72 per tonne has been imposed in order to protect domestic industry.
The anti-dumping duty has been imposed on jute or twine, Hessian fabric and jute sacking bags in all forms and specifications. In 2015, the Directorate General of Anti-Dumping and Allied Duties initiated probe into the import of the products based on the complaints of local players. Last year in October in its final order the Directorate General of Anti-Dumping and Allied Duties drawn a conclusion that dumping of goods and imports were “domestic industry is getting affected due to dumped imports.”
Also the other factors were that dumping of goods and imports were undercutting and restraining the prices of the domestic industry, performance of domestic industry has depreciated in the terms of productivity return on investments and cash flow.
After taking into consideration and reviewing the final results presented by the Directorate General of Anti-Dumping and Allied Duties the revenue department has taken the decision of imposing the anti-dumping duty. With 3.4 lakh people working in the sector, West Bengal holds the major stance in the jute industry. The anti-dumping duty has been imposed for the span of five years.