India's one-and-a-half year anti-dumping case against the import of Chinese silk has come to a close after Chinese firms agreed on minimum prices.

The minimum prices, ranging from 1.662 U.S. dollars to 4.526 U.S. dollars per meter for the fabrics, were 30 percent down from the previous ruling.

"Chinese firms who sell silk fabrics at prices lower than the minimum set price will be forced to pay anti-dumping duties according to the price disparity, said Zhang Yi, a lawyer responsible for the case.

Wang Tao, an official with the China Chamber of Commerce for Import and Export of Textiles, said the current result satisfied both sides, as it fulfills India's demand for the product and helps China remove less competitive producers.

The decision follows a preliminary ruling in May which stated that the import of Chinese silk fabrics constituted dumping and harmed Indian companies.

The case is the largest anti-dumping case that the Chinese silk industry ever confronted, involving 100 firms and products worth 180 million U.S. dollars.

Source: Xinhua