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Special import duty likely on radial tyres too

The government plans to impose a special import duty on passenger car radial tyres to protect the domestic industry, which is affected by a surge in imports of the item, especially from China and South Korea.

, ET Bureau|
Apr 24, 2009, 04.37 AM IST
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The government plans to impose a special import duty on passenger car radial tyres to protect the domestic industry, which is affected by a surge in imports of the item, especially from China and South Korea, reports Amiti Sen from New Delhi.

The directorate general of safeguards, a body functioning under the revenue department, is examining a complaint filed by the industry, an official said, requesting anonymity. Tyre makers allege that the sharp hike in imports over the past year is hurting local producers. A formal case is likely to be initiated soon by DG safeguards.

If the DG is convinced that the increase in imports has resulted in losses to domestic industry, it will recommend the imposition of an import duty, called safeguard duty, to make imports costlier, the official said. According to industry data, import of radial tyres almost doubled in April-December 2008 to Rs 267 crore, compared to imports in the previous year.
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