Apollo welcomes customs duties on Chinese tires
Apollo Tyres Ltd. Chairman Onkar Kanwar welcomes a decision by the Indian government to impose antidumping duties on radial truck and bus 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," Mr. Kanwar said to those attending Apollo's annual general meeting on Aug. 1.
The Indian government levied antidumping duties of over $450 per metric ton on new Chinese TBR tires last September, a move Mr. Kanwar 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 imports of Chinese truck and bus radials declined sharply last year due to a demonetization drive launched a year ago by the country and the antidumping duties on Chinese TBR tires.
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