Grasim faces CCI heat again; lifting of anti-dumping duty may hurt revenue
Aditya Birla Group firm Grasim Industries has faced fresh flak from the Competition Commission of India (CCI) for ‘misusing’ its dominant market position in Viscose Staple Fibre (VSF).
This comes at a time when the Directorate General of Trade Remedies (DGTR) has recommended the withdrawal of anti-dumping duty (ADD) on VSF imported from China and Indonesia, a move that may cut the product’s prices in India and affect the revenue of Grasim, the sole producer of VSF in India.
According to industry experts, prices are expected to drop by Rs 5-6 per kg once anti-dumping duty is lifted, which will be a huge boost for spinners in India. VSF is the only product that invites an anti-dumping duty in the textile industry.
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First Published: Mon, August 09 2021. 22:47 IST
