EU Imposes Countervailing Duties on Indian Optical Fibre Cables and Seizes Universal Cables Ltd.

The European Commission has imposed countervailing duties ranging from 3.7% to 8.1% on Indian exports of optical fibre cable by Universal Cables Ltd. and other manufacturers. This is being undertaken under an anti-subsidy investigation, to protect EU-based optical fibre manufacturers from alleged dumped and subsidised imports.

Key Highlights
EU imposes countervailing duties of 3.7% to 8.1% on Indian optical fibre cables.

Universal Cables Ltd. one of the affected exporters with increased trade barriers.

Studies exposed Indian manufacturers' subsidies, which resulted in price distortions.

Obligations are supplemented by existing anti-dumping obligations on Chinese and Indian optical fibre cables.

EU desires to shield its domestic industry, central to high-speed internet infrastructure.

This trade policy would restructure India's policy in terms of general optical fibre exports, including prices and market access for Universal Cables Ltd.

Source: European Commission | EU Regulation | India Shipping News