Apollo chairman welcomes custom duties on Chinese tires

Kochi, Kerala – Apollo Tyres Ltd chairman Onkar S. Kanwar has welcomed a decision by the Indian government to impose antidumping duties on new truck and bus radial tires imported from China.

“These low-cost imports had been wreaking havoc on the manufacturers in India and also on the customers who buy the low-cost products but are not aware about the safety issues,” said Kanwar addressing Apollo AGM on 1 Aug.

The Indian government levied antidumping duties of over $450/tonne on new Chinese TBR tires in September, a move that Sarkar said leveled the playing field for Indian players.

“The government has done tremendous service to the industry and to the millions of stakeholders who depend on it,” he noted.

India’s import of Chinese truck & bus radial (TBR) tires declined sharply last year due to a demonetisation drive launched a year ago by the country and the antidumping duties on Chinese TBR tires.