Govt imposes ADD of $2.69/kg on fishnet imports from China, Bangladesh
The Dollar Business Bureau
The Government has imposed anti-dumping duty, upto $2.69 per kg, on the imports on fishing net from China and Bangladesh, in order to safeguard the domestic industry from cheap imports.
Whereas, in the matter of ‘Fishing Net’ falling under tariff item 5608 11 10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) originating in, or exported from China PR and Bangladesh into India, the Designated Authority, has recommended imposition of definitive anti-dumping duty (ADD) on imports of the fishnet, the Finance Ministry said in a notification (No.20/2018-Customs-ADD).
“The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be paid in Indian currency,” the notification said.
The product under consideration is the fishnet or fishing nets made up of nylon only-whether 100% or blended, and in case of blended, it includes fishnets or fishing nets containing 50% or more nylon by weight. However, it does not include HDPE Fishnet or Fishing Net.
The Directorate General of Anti-Dumping & Allied Duties (DGAD) said its findings that the subject goods have been exported to India from the subject countries below its normal value, resulting in dumping.
“The domestic industry has suffered material injury due to dumping of the product under consideration from the subject countries,” it said.
The application for initiation of investigation has been filed by Indian Fishnet Manufacturers Association (IFMA) on the behalf of the fishnet producers in the country, representing as the domestic industry of the subject goods.
The Period of Investigation (POI) was 18 months i.e. from April 2015 to September 2016. However, the injury investigation period also covered the periods 2012- 13, 2013-14, 2014-15, 2015-16 and POI.
In the financial year 2016-17, India’s import of fishing nets of nylon stood at 994 thousand kg and 636 thousand kg from China and Bangladesh, respectively. During the current fiscal (April-January), Bangladesh already exported 781 thousand kg of fishing nets and China exported 695 thousand kg of fishing nets into India.