India plans to impose a 20% safeguard duty on imported acrylic fibre because a sudden surge in imports is expected. Acrylic fibre is already subject to an anti-dumping duty applicable to certain imports. The safeguard duty is applied on all imports. The government has yet to approve the finance ministry recommendation.
Acrylic fibre is derived from naphtha, a crude oil derivative. Its global price declined in recent months causing losses to producers across the world. The domestic producers' case for requesting the safegueard duty is that their market share had reduced from 91% to 85% in the last 2 years.
Spinning and weaving mills in Punjab and Rajasthan depend on imported acrylic fibre to produce knitted garments and local acrylic fibre producers have already raised prices according to Vinod K Thapar, an industry spokesman.
The Business Standard has reported that, since the beginning of March 2009, 3 safeguard and 9 anti-dumping Notifications have been issued. The anti-dumping and safeguard actions pay regard to procedures due under WTO agreements, however China has already protested against a restriction on toy imports. India stands out as the country most active in anti-dumping measures.
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