MOSCOW (MRC) -- India has lifted the 6.5% anti-dumping duty imposed on import of polypropylene (PP) from Oman in November 2010, Indian Ambassador to the Sultanate, JS Mukul told reporters in Muscat, reports Fibre2fashion.
The decision of the Government of India would give relief to the state-run Oman Polypropylene Company, as India is a major market for Oman’s PP.
The latest decision is in accordance with the very strong economic and trade relations between India and Oman, and it would lead to a further growth in bilateral trade, particularly in non-oil exports from Oman to India, Mr. Mukul said.
From April to October 2013, bilateral trade between India and Oman was around USD3.65 billion, and it may cross the USD5 billion-mark for the ongoing Indian financial year 2013-14, he informed.
During the seven-month period, Omani exports to India rose by 91% year-on-year to around USD2 billion.
India’s major export items to Oman include textiles.
Oman Polypropylene is an Omani based world-class petrochemical company based in Sohar, Sultanate of Oman. It is one of the leading manufactures of polypropylene in the Middle East. Oman Polypropylene produces homo-polymer and impact and random copolymer with a capacity of 340,000 MT /Year.
MRC