Summary:
BSE and NSE listed Asian Granito India Limited (AGIL) is bullish on the demand for the quartz from USA market on account of sharp decline in CVV and Anti-dumping duty by USA on import of Indian Quartz. Earlier USA had levied CVV and Anti-dumping duty of 87.5% on Indian Quartz, however now they have revised their duty to around 3.19% for Indian manufacturers, including Asian Granito India Limited, which will help company export Quartz to USA. This development will help AGIL to target USA market which exclusive range of Quartz which is further help AGIL to became one of the biggest exporter in Quartz from India. However on Indian tiles, USA have levied duties up to 8.5% which will further raise the scope of tiles export to USA from India. Due to the above recent positive developments, Indian tiles and ceramic Manufacturers, especially Asian Granito India Limited, will benefit from the lower duties on tiles compared to China, whereby turnover and profitability of the company will increase substantially..