The price of imported tyres will increase by 9-14%
Since the removal of anti-dumping duty in 2015, cheap Chinese tyre imports have been the biggest threat to domestic firms’ revenue growth and profitability.As Mr.Vikram Malhotra said ,the tyre industry of India is benefited from this duty as the competition with Chinese tyres has decreased.The government took these steps as it was getting hard for the Indian manufacturers A step like this was expected from the government..“With the Anti Dumping Duty of $245 to 453 per tonne to be in force for the next five years, the price of imported tyres will increase by 9-14%,” says Bharat Gianani, an analyst at Sharekhan Ltd. Source : livemint
This move unabated dumping of cheap low-grade Chinese tyres in the Indian market and will boost the industry
Vikram Malhotra, Marketing Director, JK Tyre & Industries Ltd, said, “The Anti-Dumping Duty will address concerns related to unabated dumping of cheap low-grade Chinese tyres in the Indian market and will boost the industry. Our Chairman Raghupati Singhania has been leading the charge for an anti-dumping duty for years now, as it gives a much-needed impetus for the Indian tyre industry. A check on the import of cheap Chinese pneumatic truck/bus radial tyres will guard domestic players by creating an enabling market that will motivate Indian tyre manufacturers to deliver to their customers quality tyres in and outside India.” source: ndtv
