India to review duties to curb subsidized jute imports from Bangladesh
Live MintNew Delhi: India is considering tightening its duties on jute and jute products to check imports of cheap, subsidized goods from Bangladesh that are undermining local manufacturers, a senior official said. India started investigating imports of Bangladeshi jute goods towards the end of last year, to look at imposing countervailing duty, which came up in a petition to the government by the Indian Jute Mills Association. India is one of the largest importers of jute and its products from Bangladesh, a country that provides a cash subsidy of 12% as export incentive on Hessian sacks and ‘carpet backing clothing’ ; 7% incentive on jute fibres including yarn and twine; and 20% subsidy on jute diversified products including food grade bags and clothes. “The non-compliance of JPMA, 1987 by the sugar industry to use jute bags for packaging of at least 20% of sugar production, has aggravated the situation for the industry.” The price of jute sacking bags, mainly used to pack foodgrains, has declined 5% year-on-year to Rs.95,489 per tonne in last December from Rs.
History of this topic
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