Goyal, who is also the minister of textiles, told representatives of the Northern India Textile Mills’ Association (NITMA) this week that the industry should develop itself to face global competition, and not to expect protection from the government in the era of open market. The minister, however, assured the representatives of ensuring level playing field for all the stakeholders in the textile sector.
NITMA officials told Goyal that domestic man-made yarn manufacturers are liable to pay import duty of 5.5 per cent on man-made fibre which makes domestic manufacturers uncompetitive against the imported PSY. In response, the minister told industry representatives to not to push for ADD on PSY in the current scenario, a source told Fibre2Fashion on the condition of anonymity. However, he assured them that he will look into the issues which are important to ensure a level playing field.
PSY import by India has increased by 943 per cent during the past five years, and imports from Vietnam alone have increased by 88 times. In 2020-21, India imported 60,810 tonnes of PSY, accounting for 23 per cent of the total 264,000 tonnes consumed by the domestic market. Sensing that this trend is increasing at a great speed, NITMA had been advocating levying of ADD on PSY.
In August 2021, the DGTR had recommended that ADD be imposed on PSY originating in or exported from China, Indonesia, and Vietnam. However, an official notification announcing the date from which the ADD would come into effect never materialised.
Fibre2Fashion News Desk (KUL)
Apparel/Garments | On 14th May 2022
Apparel exports from Turkiye increased by 18.06 per cent year-on-year ...
The US Federal Reserve recently said in its semi-annual financial...
IFC has partnered with HCM City Development Joint Stock Commercial...
Consistency is the first rule of social media
Strongly believe in 'people first' policy.
Adaptive Control automates, controls and monitors machines, systems and...
Baltika Group, founded in 1928, is the leading fashion brand house in the...
The Luxe Maison is a premiere haute couture e-boutique established after...
Dr. Sean Blamires Evolution and Ecology Research Centre
Using spider silk for clothing may not seem to be an attractive...
Daniel Roxbury University of Rhode Island
Assistant professor Daniel Roxbury and former URI graduate student...
Ventile is a registered trademark used to brand a special high-quality...
Najla & Cynthia Burt Label - Dur Doux
Renowned Washington DC based mother-daughter designer duo Najla and...
Timna Weber Label - Timna Weber
London-based sustainable high-end eponymous womenswear label, by designer...
Susumu Miura Label - Avalone
Tokyo-based fashion brand Avalone, founded by Susumu Miura in 2013, is an...
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
By submitting you confirm you have read our Terms & Conditions and Privacy Policy.