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Anti-dumping duty hike to help tyre-makers: JK Tyre
In a bid to curb competition from China, the government has decided to hike anti-dumping duty from $99 to $135 per tyre. And, the tyre makers are happy that this move will definitely help local companies.
In a bid to curb competition from China, the government has decided to hike anti-dumping duty from $99 to $135 per tyre. And, the tyre makers are happy that this move will definitely help local companies.
JK Tyre CFO AK Kinra said, "There has been lots of dumping of tyres from China and Thailand at fairly low prices. This is positive for the industry and will help in underinvoicing of imports."
The Anti-Dumping Directorate has recommended a reference price for the anti-dumping duty to the Finance Ministry, he added.
Kinra added that with this anti-dumping duty the Chinese tyres would become expensive by 20%-25%. China has also reduced incentive on tyre exports from13.5% to 5%.
However, there is no anti-dumping duty on radial tyres and it would be imported at the normal duties.
In a bid to curb competition from China, the government has decided to hike 
