Reliance Industries caught in diplomatic tussle between India & Saudi Arabia over anti-dumping duty on polypropylene

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

22 Jul 2011 Evaluate

India's lucrative polypropylene market dominated by Reliance Industries is occupying centre stage in diplomatic relations between India and Saudi Arabia as the oil-rich kingdom is mounting intense pressure on government to withdraw anti-dumping duty on the plastics raw material. The issue will be on the agenda in bilateral talks in September, when Saudi Arabia is expected to strongly pitch for the withdrawal of the duty as the world's biggest oil exporter is eyeing markets for the giant petrochemicals plants it wants to build to diversify its oil-centric economy.

Reliance, Asia's biggest manufacturer of the key input for plastics, commands 70% market share in India with a capacity of 1 million tonnes and had successfully led the domestic industry's campaign for anti-dumping duty two years ago. Haldia Petrochemicals, which produces 3.2 lakh tonnes a year, also supports the levy. But Saudi Arabia resents this move and is relentlessly lobbying against it. Import duty on polypropylene in China, the US, Euro Zone, Japan and Korea is 6.5%. While it is 5% in India. The anti-dumping duty that has been imposed is 1.5% - basically the duty differential between these countries and India. In dollar terms, 1.5% duty differential amounts to $20-22 per tonne; hence if the government raises the import duty to 6.5%, there would not be any requirement of anti-dumping.

The government is trying to tread cautiously. The issue was already under discussion and the Saudi Arabian ambassador. Reliance is also a large buyer of Saudi crude oil for its Jamnagar refinery and has cordial relations with Saudi authorities. Indian manufacturers complain that Saudi Arabia, with its enormous reserves of hydrocarbons, gives its petrochemical makers cheap feedstock, giving them an unfair advantage over India although the plastics industry is lobbying against the levy saying their input prices have risen sharply after anti-dumping duties.

Reliance Industries Share Price

1435.70 0.00 (0.00%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	144.70
BPCL	302.85
HPCL	387.00
MRPL	167.90
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.