India: Dumping duty on Chinese silk extended

16/01/2012 12:00 - 420 Views

In an order to provide relief to weavers, especially from Varanasi, the Centre has decided to continue anti-dumping duty on silk imports from China for five more years. The Central Board of Excise and Custom has issued a notification in this regard. Anti-dumping duty was first imposed in 2006 and was extended on April 21, 2011. It was further recommended for continuation on December 5.

The duty is imposed on imports of silk fabrics 20-100 grams a metre. It will be effected on various kinds of silk fabrics such as crepe, georgette, chiffon and Habutai. Silk fabrics produced in other countries but exported by China or Chinese silk exported by any other countries will also be covered under the notification.

The anti-dumping duty imposed will be payable in Indian currency. The rate of exchange applicable for the purposes of calculation of anti-dumping duty will be the rate which is specified in the notification of the Finance Ministry issued from time to time.

Source: thehindubusinessline.com