India extends anti-dumping duty on jute goods from Bangladesh

India has extended the anti-dumping duty on various jute products from Bangladesh and Nepal.

Issuing a notification on Friday, the Indian finance ministry said the duty applicable is in the range of $6.3 to $351.72 per tonne, reports The Telegraph from New Delhi.

“The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency,” reads the notification.

In January 2017, India imposed anti-dumping duties ranging from $19 to $352 per tonne for five years on jute exports from Bangladesh. After the five-year period expired on 1 January 2022, the country started a review on keeping the duty for a while longer.

In October last year, India's Directorate General of Trade Remedies (DGTR) recommended its finance ministry to again impose anti-dumping duty on jute goods exports of Bangladesh for another five years, prompting Bangladesh's commerce ministry to initiate discussions with exporters to determine the course of action.

CEPA between India and Bangladesh being carried out

At present, a joint feasibility study on a Comprehensive Economic Partnership Agreement (CEPA) between India and Bangladesh is being carried out and following a meeting of the Union commerce ministers of both countries last week, a commerce ministry note said that both sides have agreed to start CEPA discussions at an early date.

Removal of non-tariff barriers and port restrictions, re-opening of border haats, harmonisation and mutual recognition of standards and procedures, settlement of trade in rupees, strengthening connectivity and trade infrastructure were among some of the issues that could help further strengthen the economic ties between the two countries.