The European Fee has exempted HFCL and its subsidiary HTL Restricted from the anti-dumping duties. Thoughts that HFCL is the one Indian firm to be exempted right here, as each different Indian firm exporting optical fiber cables should not exempted. Europacable filed a grievance on October 3, 2023, that imports of optical fiber cables originating in India have been being dumped within the European market. This was inflicting hurt to the European producers. Thus, the European Fee had been conducting an investigation on the matter for the final a number of months.
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After the investigation was over, HFCL was exemtped from the anti-dumping duties. This has given a significant enhance to the corporate’s share worth on the Indian inventory exchanges, as it’s up greater than 6% over its final closing worth on the time of penning this.
Anti-dumping legal guidelines have been put in place by the Europe on OFC (optical fiber cable), and in 2021, all of the OFC coming in from China have been struck with anti-dumping duties. Underneath its investigation, the European Fee discovered no proof of dumping in HFCL’s case. Nevertheless, different Indian corporations weren’t exempted beneath this. The investigation was carried on for six months in whole, and it will likely be fascinating to see if different Indian corporations are in a position to safe exemption from anti-dumping duties sooner or later.
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For now, this choice will assist HFCL in boosting its enterprise within the European market. This can even enhance Europe’s digitalisation plans as top quality fiber is required to hold enormous quantities of information at tremendous speeds. The anti-dumping duties apply to single-mode optical fiber cables originating in India, excluding cables beneath 500 meters with operational connectors and submarine use cables with plastic insulation and metallic modules containing fibers.
