Adhesive tape units hit by Chinese imports
Underinvoicing of imports cause local traders loss
The Rs 3.6 bn self adhesive tape industry is in troubled waters owning under invoicing of imports from China by local traders.
“ Some unscrupulous traders are importing tapes at a under invoiced price from china, which often goes upto 90% of the actual price. It is thus becoming virtually impossible for local players to face such competition”, Self Adhesive Tape Manufacturers Association, SATMI President Mohal L Arora pointed out. They often label such items as scraps and get full benefits of several taxes he said.
In the past eight months such imports have robbed off almost 25% of the local business and if this trend continues, the local industry is likely to be engulfed by such imports. These imports are sold at abysmally low prices causing the domestic industry to suffer.
