December 04, 2008

Usha Martin expects EU AD duties to be removed

It is reported that Usha Martin Limited is expecting to convince the European Union authorities to remove anti dumping duties on Indian exports, which was imposed in 2005.

The report cited a senior official of Usha Martin as saying that "We expect a final review of the imposition of the anti dumping duty by the European Union by the beginning of 2008.”

He added that “The imposition of the duty, for the second time since 1999, has severely us. About 10% of our total exports have been hurt after duties to the extent of 23.4% were imposed on wire ropes."

It is noted that apart from putting penal duties on wire ropes from India, EU has also made Usha Martin to accept a price undertaking or pre fixed band.