ET current

The government’s impending imposition of anti-dumping duty on radial tires is a major relief for domestic tire makers like CEATT, Apollo Tyres, JK, Goodyear and Bridgestone.

CEAT, Apollo Tires, JK and other tire stocks are said to be facing imminent anti-dumping in today’s trade.

Government sources told ET Now that a Commerce Ministry probe has concluded that Indian manufacturers should be protected from China’s dumping of cheap radial tires into the Indian market. A senior government official told ET: “The anti-dumping office has proved through a study that it is not economically viable. The prices of Chinese companies are almost 20% lower than Indian companies.” Now.

The final amount of anti-dumping duty will be decided by the commerce and finance ministries, but it is expected to be decided soon.

All stakeholders must submit their final comments to the Department of Commerce by Friday, July 27, mid-77. /pCEAT MD Anant Goenka recently told ET Now: “China accounts for about 30% of the truck lunch market. While this figure has declined since democratization, we believe that China will do so if anti-dumping duties are not imposed. “The dominance of the market is likely to return.”