Guangdong Yizumi Precision Machinery Co. Ltd., one of the largest Chinese injection molding machine makers, is officially moving ahead with direct investment in India for a production plant to assemble injection presses.
The move is in response to India's continued antidumping duties on Chinese injection molding machines.
The company first floated the idea of opening a factory in India in 2013 but was holding off to see if the Indian government would renew the tariffs.
“We will set up a production site by the end of the year,” Yizumi CEO Richard Yan told Plastics News. The company is in the process of site selection and is considering locations near Delhi.
In 2009 India started levying tariffs of up to 223 percent on Chinese-made molding machines from 40-1,000 metric tons of clamping force. Despite protest from Chinese machinery exporters as well as Indian injection molders, India renewed the punitive duties in 2012, when the first three-year term expired. And another renewal is expected this year.
“Industry representatives and the China Plastics Machinery Industry Association went to India to attend hearings, but India made up its mind to continue the trade barrier, not just on Chinese machines but also expanding to machines from other Asian countries,” Yan said.
Yizumi has been running a tech center in Pune since late 2013, primarily for Yizumi's die casting machine business.