Commerce Min plans to encash on EU's footwear anti-dumping duty
12 Oct '06
1 min read
Sensing the kill, Commerce Ministry is working out plans to enhance country's footwear exports to European Union after it imposed anti-dumping duties on footwear from china and Vietnam.
Anti-dumping duty of 9.7 and 16.5 percent has been imposed on China and 10 percent on Vietnam with duties remaning in force for two years.
Jairam Ramesh, Minister of State for Commerce informed that imposition of anti-dumping duty by EU will provide India big opportunity to increase its market share in EU market.
India exports 63 percent of its leather footwear to EU and a mere 12 percent to US, the fastest growing footwear market.
The Minister stressed the need to focus on this market and on mass consumption of footwear, the strength of China. While India targets $15-20 dollar footwear category, China focuses on $4-8 market.
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