Indian paper companies operating across uncoated paper segment are JK Paper, The West Coast Paper Mills, Tamil Nadu Newsprint Papers and Ballarpur Industries. They had filed an application before Directorate General of Trade Remedies (DGTR) for initiation of the investigation. Based on the investigation, DGTR has recommended the duty after establishing in its probe that the dumping of uncoated paper from these countries are having impact on domestic players.
DGTR, in its probe, also concluded that the paper has been exported to India from the above countries below their normal values. This has consequently led to material injury for domestic industry. The directorate has recommended anti-dumping of difference between the landed value of the product and US$855/tonne.
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-à-vis foreign producers and exporters.
Overall, the Indian paper industry has continued to witness steady growth in FY18 with growth in the domestic demand from 9.3mn tonnes in FY08 to 17.1mn tonnes in FY18 at a CAGR of 6.3%.
Stocks like JK Paper, West Coast, Tamil Nadu Newsprint are likely to remain in limelight in today’s trade session.