On December 14, news came from Pingmei Shenma Group International Trading Company that the Taxation Bureau of India’s Ministry of Finance has issued a customs order to formally revoke the anti-dumping duties imposed on nylon cord fabric products imported from China, which has been implemented for 15 years. The anti-dumping duty has come to an end.
This is also another success that the group has achieved in its separate anti-dumping response since October 2009 after its successful anti-dumping response to nylon 66 chip products. “Affected by the current extremely complicated Sino-Indian relations, it is particularly difficult to succeed in this anti-dumping response,” said the person in charge of the relevant department of the company.
India is the world’s second largest nylon 6 and nylon 66 cord fabric market after China, with an annual demand of 60,000 tons, about 50% of which are imported from China, Taiwan, Indonesia, and Thailand, of which nylon 66 cords are from China The cloth products are all exported by Pingmei Shenma International Trade Company. In the past, India had little demand for high-quality nylon 66 cord fabric products. In recent years, with the improvement of road conditions in India, the import volume of nylon 66 cord fabric products has been increasing.
Fifteen years ago, India imposed an anti-dumping duty of US$1,100/ton on Chinese-related products on the grounds of dumping Chinese-related products at low prices and harming local Indian companies. In accordance with international anti-dumping regulations, a review of whether anti-dumping is to be continued every 5 years.
On November 21, 2019, the Indian Ministry of Commerce and Industry issued an announcement stating that, according to a joint application submitted by relevant domestic companies and associations in India, the third anti-dumping review investigation will be conducted on nylon cord products originating in or imported from China. After receiving the news, Pingmei Shenma International Trade Co., Ltd., under the guidance of the Group’s Legal Affairs Department, decided to appoint the company’s Marketing Department and Legal Affairs Department to form a response team with relevant departments to independently respond to the anti-dumping review investigation.
The response team comprehensively analyzed, collected and submitted evidence to India in a timely manner. In the face of sufficient facts, the Indian investigation agency Trade Remedy, in the final ruling, suggested that anti-dumping duties continue to be levied, but the anti-dumping duties should be reduced to US$520/ton. The responding team promptly reported the situation to the China Chamber of International Commerce and industry associations and obtained support in accordance with the requirements of the group leaders and the person in charge of Pingmei Shenma International Trade Company. Together with the China Chamber of International Commerce and industry associations, they wrote to the Ministry of Finance of India to elaborate on the situation of the case. They argued for reasons and demanded that the taxation be completely stopped, which ultimately succeeded.
“The success of the anti-dumping response work has significantly enhanced the competitiveness of Shenma brand nylon products in the Indian market, and created good conditions for the next step to expand exports to India. At the same time, it also strengthened our active participation in the maintenance of anti-dumping response work. The determination and confidence in corporate rights and interests.” said the person in charge of Pingmei Shenma International Trade Company.