India imposes ‘anti-dumping’ duty on Bangladeshi jute goods

Prothom Alo English | Update:

In what Business Standard called a protectionist measure, the government of India has imposed anti-dumping duty on jute products imported from Bangladesh and Nepal.
The duty, ranging from $8 to $350 per tonne, would apply to varying categories of jute goods originating in Bangladesh and Nepal, according to the newspaper.
The so-called “anti-dumping” duty was notified by India’s finance ministry on 5 January. It reportedly alleged that dumping of jute goods was suppressing the prices in the domestic industry.
The notification said the anti-dumping duty would be in force for a period of five years unless superseded or revoked and is mandated to be paid in Indian currency.
Categories of jute products to be covered under the duty are jute yarn, sacking bags, twine and Hessian fabric.
Earlier, Bangladesh’s commerce minister Tofail Ahmed termed India’s decision to impose the anti-dumping duty ‘unexpected’ and urged the Indian authorities to withdraw this trade barrier.
Growth in export of Bangladeshi jute goods to India marked 133.80 per cent raise in 2015-16 financial year.

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