The Saudi Advanced Poly Propylene Company said Wednesday that a number of Indian companies have filed a suite against companies in several other countries including the Kingdom of Saudi Arabia, alleging that the Indian markets have been glutted with the products of poly-propylene. In a statement issued here this morning, The Saudi Advanced Poly Propylene Company said that investigations are underway as regards levying taxes by the concerned authorities in India to face the problem of glutting. "But, the Indian government has imposed a precautionary measure pertaining to levying protective duties on the imports of these products," the Saudi company added. "After carefully studying the issue by the concerned Indian authorities, the measures will either be implemented or cancelled," the Saudi company noted. The Saudi Company sources said sales to India ranged between 2.5 per cent and 3.5 per cent in 2008 and 2009 respectively of the total sales of the Saudi company at the world level. The Saudi company pointed out that it has made the required contacts in coordination with the ministry of commerce and industry in the Kingdom to boost its stand. It noted that all sales of the company in India were sold in line with the prevailing prices, adding that any activity which might harm the Indian market and the producing companies will not happen. The Saudi company described the measures undertaken in this respect in India as non-justifiable and that these contravene with the systems and laws of the World Trade Organization (WTO). It said these measures are aimed at limiting the exports of the Saudi industries to India at a time when Indian products are freely marketed in the Saudi market.
