India has extended the Anti-Dumping Duty (ADD) on various jute products imported from Bangladesh and Nepal. Bangladesh had urged the Indian government not to accept recommendations for extension, while the Indian industry was lobbying to ensure the duty comes into effect. The finance ministry issued a notification issued on Friday to extend ADD for 5 years.

The duty is applicable in the range of $6.3 to $351.72 per MT. The notification said, “The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.”

Indian jute industry was lobbying relentlessly with the government to protect the domestic sector from cheaper imports from the neighboring countries. India’s Directorate General of Trade Remedies recommended in October this year that the Indian finance ministry should continue the ADD on jute products from Bangladesh and Nepal.

During a recent visit to India, Bangladesh Commerce Minister Tipu Munshi had requested his Indian counterpart Shri Piyush Goyal not to extend the tenure of ADD on the import of jute and jute goods from his country that was imposed on January 5, 2017 and was supposed to end on December 31, 2022.

Source: India Shipping News