India has initiated a probe into the alleged circumvention of anti-dumping duty imposed on high tenacity polyester yarn (HTPY) originating from China, based on an application filed by Reliance Industries Ltd NSE 1.54 %.
"The authority hereby initiates an anti-circumvention investigation...to consider extension of existing anti-dumping duty on imports," the Directorate General of Trade Remedies (DGTR) said in a notification.
It said the application for initiating the probe has been filed by Reliance Industries NSE 1.54 % (RIL NSE 1.54 %), a major producer of HTPY in India. The application is supported by Wellknown Polyesters Ltd, DGTR said.
HTPY is used for the manufacture of tyre cord fabric, seat belt webbing, ropes, single cord, coated fabric, conveyer belt fabric, rubberised hose and fire hose.
The finance ministry had imposed the anti-dumping duty on the product imported from China on July 9, 2018, and it is in force till July 8, 2023. The period of investigation is 2021-22.
Source Name:-Economic Times