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Dumping duty on Korean optical fibre

Our Bureau

NEW DELHI, July 2

THE Finance Ministry has clamped definitive anti-dumping duty on all optical fibre originating in or exported from South Korea.

Based on the recommendations of the Designated Authority in the Commerce Ministry in its final findings, the Revenue Department has imposed an anti-dumping duty of $2.32 per kilometre (km) on optical fibre exported by Samsung Electronics Ltd, $8.96 per k m in the case of Daewoo Corporation, $4.83 per km on LG Cables and Machinery Ltd, $5.18 per km in the case of Taihan Electric Wire Co. Ltd and $8.96 per km on all other exporters.

In a notification, the Revenue Department held that the duty will be payable in Indian currency and will be applicable from December 29, 1999, the date of imposition of provisional anti-dumping duty. The petition seeking anti-dumping investigations was f iled by Sterlite Industries Ltd.