HFCL/SEC/24-25
June 17, 2024
BSE Ltd. National Stock Exchange of India Ltd.
1st Floor, New Trading Wing, Rotunda Building Exchange Plaza, 5th Floor, C – 1, Block G
Phiroze Jeejeebhoy Towers, Dalal Street, Fort Bandra – Kurla Complex, Bandra (E)
Mumbai – 400001 Mumbai – 400051
[email protected] [email protected] Security Code No.: 500183 Security Code No.: HFCL
Subject: Press Release
Dear Sir(s)/ Madam,
Attached, please find herewith a Press Release on a landmark decision made by the European Commission on
14th June, 2024. In the said decision, it was determined that HFCL is the only Indian company not engaged in
dumping of OFC in European markets whereas provisional Anti-dumping duty has been determined on all other
Indian Optical Fiber Cable Manufacturers in the statement issued by the European Commission. This makes
HFCL as the only Indian Optical Fiber Cable manufacturer to have been exempted from anti-dumping duties by
European Commission.
We request to take the above information on your records and disseminate the same on your respective
websites.
Thanking you.
Yours faithfully,
For HFCL Limited
Mano Digitally signed
by Manoj Baid
Date:
j Baid 2024.06.17
15:13:42 +05'30'
(Manoj Baid)
President & Company Secretary
Encl.: Press Release.
Regd. Office & Works: 8, Electronics Complex, Chambaghat, Solan-173213 (H.P.) Tel: (01792) 230644, 230645, 230647 Fax: (01792) 231902
Corporate Identity Number: L64200HP1987PLC007466
Press Release
For immediate Release
HFCL is the Only Indian Company against which no Anti-Dumping duty has been
determined by European Commission on export of Optical Fiber Cables to European
countries
This proves HFCL’s Unwavering Commitment to Transparency and Fair Business Practices in a half-
a-year Long Investigation by European Commission on Indian Optical Fiber Cables manufacturers
for dumping in European market.
New Delhi, June 17, 2024: HFCL Limited (“HFCL”), a leading technology enterprise specializing in the
manufacturing of high-end telecom equipment, optical fiber, and optical fibre cables (OFC), as well as providing
communication network solutions for telecommunications, defence, and railway sectors, today announced
about a landmark decision made by the European Commission on 14th June, 2024. In the said decision, it was
determined that HFCL is the only Indian company not engaged in dumping of OFC in European markets whereas
provisional Anti-dumping duty has been determined on all other Indian Optical Fiber Cable Manufacturers in
the statement issued by the European Commission. This makes HFCL as the only Indian Optical Fiber Cable
manufacturer to have been exempted from anti-dumping duties by European Commission.
The complaint was lodged on 3rd October 2023 by Europacable on behalf of the European industry of optical
fiber cables, alleging that imports of OFC, originating from India, were being dumped and were causing injury to
the European industry.
The European Commission subsequently conducted an extensive investigation of all relevant Indian OFC
manufacturers’ products, infrastructure and financial data.
During the mid of November 2023, notices were sent to Indian OFC manufacturers. European Commission
requested initial sales data from export producers within a week. Thereafter, Extensive data on manufacturing,
sales, exports, and pricing for October 2022 – September 2023 were provided within a month’s timeline, as
required by the European Commission.
The European Commission then requested data for the previous three financial years, along with detailed
records for the investigation period.
Earlier this year in April, all information and data were meticulously verified by European Commission with
intensive validation conducted at the premises of all relevant Indian manufacturers by sending its officials to
India on multiple aspects to determine whether Indian manufacturers were undercutting prices to sell products
in Europe compared to its domestic sales prices on below their cost.
After thorough investigation, the European Commission ruled in June 2024 that anti-dumping duties would not
apply to the Indian exporting product of the HFCL Group, which includes HFCL Limited and HTL Limited, as no
evidence of dumping was found. Anti-dumping duty was however, levied on all other Indian manufacturers of
Optical Fiber Cables against which these manufacturers have legal recourse. This decision of the European
Commission has proven transparent and fair business practices of HFCL.
HFCL’s products have been preferred by European telecom operators, as they meet the quality, reliability and
safety standards, are commercially viable, and guarantee a sustainable supply for the construction of Europe’s
telecom infrastructure. The Company has been operating in Europe for over a decade and is having long term
engagements with some of the leading telcos and ISPs in many countries of Europe.
Mr. Mahendra Nahata, Managing Director, HFCL, said, “This decision is a huge achievement for us and speaks
volumes about the trust that we have garnered globally for our fair-trade practices and transparency of
processes. We have always focused on delivering high-quality, flexible and cost-effective solutions, backed by our
commitment to innovation and excellence in the telecommunications industry. We firmly believe that this
decision will enable us to play a central role in Europe’s digital transformation.”
Anti-dumping laws are usually put in place to shield domestic industries from unfairly priced imports.
In the past, the Europe had imposed anti-dumping duties on OFC imports from China in November 2021 to
ensure that the domestic industry was not weakened by unfair trading practices and could compete on an equal
footing. Subsequently, the European Commission tightened these measures further in August 2023 by doubling
its anti-dumping duties on optical fibre cables from China, following an investigation which found that Chinese
exporters were attempting to hinder the effects of the original measures. Similar investigation was carried out
on Indian companies and Anti-dumping duty has now been determined on all Indian Optical Fiber Cable
manufacturers except HFCL and its subsidiary HTL Limited.
About HFCL
HFCL is a leading technology company specializing in creating digital networks for telcos, enterprises and
governments. Over the years, HFCL has emerged as a trusted partner offering sustainable high-tech solutions
with a commitment to providing the latest technology products to its customers. HFCL’s strong R&D expertise
coupled with its global system integration services and decades of experience in fiber optics enable it to deliver
innovative digital network solutions required for the most advanced networks.
The Company’s in-house R&D Centres located at Gurugram & Bengaluru along with invested R&D Houses and
other R&D collaborators at different locations in India and abroad, innovate a futuristic range of technology
products and solutions. HFCL has developed capabilities to provide premium quality Optical Fiber and Optical
Fiber Cables, state-of-the-art telecom products including 5G Radio Access Network (RAN) products, 5G Transport
Products, Wi-Fi Systems (Wi-Fi 6, Wi-Fi 7), Unlicensed Band Radios, Switches, Routers and Defence electronics
products.
The Company has state-of-the-art Optical Fiber and Optical Fiber Cable manufacturing plants at Hyderabad,
Optical Fiber Cable manufacturing plant in Goa and in its subsidiary HTL Limited at Chennai.
HFCL is a partner of choice for its customers across India, Europe, Asia Pacific, Middle East, Africa and USA.
HFCL’s commitment to quality and environmental sustainability inspires it to innovate solutions for the ever-
evolving customer needs.
Visit www.hfcl.com for more information.
For further details, please contact:
HFCL Limited Adfactors PR
Manoj Baid | Amit Agarwal | Alok Chander Snigdha Nair | Vasundhra Sethi | Akshataa Acharya
Email: Email:
[email protected] [email protected]
[email protected] [email protected]
[email protected] [email protected]
Contact: 011 35209400 Contact: 9920481191 | 7428508927 | 9148730795
