gateway

Monday, 22 March 2021 12:17

India refuses to withdraw anti-dumping duty on Bangladesh jute imports

Rate this item
(0 votes)
  

India has refused to withdraw anti-dumping duties on Bangladesh jute imports. India imposed anti-dumping duties on Bangladeshi and Nepali jute goods on January 2017. The duties imposed ranged from $19 to $351.72 per ton on import of jute products, including jute yarn, twine, hessian fabric and jute sacking bags from Bangladesh for five years. They aim to provide guidelines and tools to discipline anti-dumping actions. The core idea behind the imposition of anti-dumping duty was to protect local Indian jute industry from cheaper Bangladeshi imports. Usually, if a firm exports a product 'at a price lower than the price it normally charges on its own home market,' it is termed as 'dumping' the product. India refused to withdraw duty as it is a quasi-judicial measure and cannot be resolved through discussion.