There is a huge and sudden rise in imports from Vietnam,” ICEA chairman Pankaj Mohindroo wrote in the letters.The industry association has sought a time-bound three-month investigation by an inter-ministerial panel on imports from Vietnam — with which India has a free-trade agreement — in relation to price, quantity, value and special reference to rules of origin. While the duty on ‘open cells’ used in the manufacture of LCD and LED televisions was hiked to 10%, it was halved after the industry immediately sought a roll-back since it wasn’t ready to manufacture the component. The government’s full Budget is on July 5.Open cells are among the most critical parts in a TV panel and account for 65-70% of a set’s production value. However, the biggest fallout of this duty was Samsung shutting down production of TVs in India and shifting out to Vietnam, with which India has an FTA. While the government has been mulling the complete rollback of duty on open cell, it is yet to make a move on the matter.

Source: Economic Times June 13, 2019 01:18 UTC