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Reliance Industries Limited, a leading Indian producer, has sought the initiation of the anti-dumping investigation through an industry body, the Chemicals and Petrochemicals Association of India (CPMA). The company has interests in the upstream value chain of polyester yarn.
The CPMA has alleged that MEG originating from or exported by these countries has caused material injury to the domestic industry and poses a further threat to domestic producers. As a result, the Association has requested the imposition of anti-dumping duties on MEG imports from these countries. Indian Glycol Limited has also supported the CPMA’s request.
The DGTR will consider the period between April 1, 2023, and March 31, 2024 as the investigation period. The injury period for the investigation will cover the three preceding fiscals: 2020-21, 2021-22, and 2022-23.
The CPMA has claimed that although information regarding the cost of production of the product in these countries is not publicly available, it is evident that the export price is significantly lower, indicating dumping.
While anti-dumping duties provide protection to domestic industries, they can lead to losses for consumer industries relying on imported products. This, in turn, can leave downstream industries, such as those producing garments, fabric, and yarn in the textile sector, less competitive in the global market.
Fibre2Fashion News Desk (KUL)