January 2, 2023
India has extended anti-dumping duty (ADD) on many jute products imported from Bangladesh and Nepal. Bangladesh has urged the Indian government not to accept the extension recommendations, while Indian industry is lobbying to ensure the tax comes into effect. The finance ministry issued a notice issued on Friday for an FULL extension for 5 years.
Tariffs are applied between $6.3 and $351.72 per ton. The notice said, “Antidumping duties imposed under this notice shall be imposed for a period of five years (unless previously revoked, replaced or modified) from the date this notice is posted. in the Official Gazette and shall be submitted in the Indian language. currency.”
The Indian jute industry has been lobbying relentlessly with the government to protect the domestic industry from cheaper imports from neighboring countries. The Directorate General of Trade Remedies of India recommended in October this year that the Indian Ministry of Finance should continue to ADD jute products from Bangladesh and Nepal.
During his recent visit to India, Bangladeshi Commerce Minister Tipu Munshi asked his Indian counterpart Piyush Goyal not to extend the ADD’s deadline for imports of jute and jute goods from his country that had been imposed. on January 5, 2017 and is expected to cease. on December 31, 2022.