Appreciating the recent decision by India’s Directorate General of Trade Remedies (DGTR) to levy anti-dumping duty (ADD) on viscose spun yarn imported from or originating in Indonesia, Vietnam and China, North India Textile Mills Association (NITMA) President Sanjay Garg recently advocated levying ADD on polyester spun yarn as well.
Country-wise data on import of virgin polyester spun yarn from 2015 to 2020 explains the urgent need to impose ADD on such yarn, he said in a press release.Appreciating the recent decision by India's Directorate General of Trade Remedies (DGTR) to levy anti-dumping duty (ADD) on viscose spun yarn imported from or originating in Indonesia, Vietnam and China, North India Textile Mills Association (NITMA) president Sanjay Garg recently recommended levying the same duty on polyester spun yarn as well.#
Monthly average imports of virgin polyester spun yarn (under the PUC) have increased by 972% per cent from 2015 to 2020. Imports from Vietnam alone have increased by 10,512 per cent, i.e., 107 times.
Average monthly imports for 2020 are 5,212 tonnes per month out of the total domestic monthly consumption of 22,000 tonnes per month, which means that imports enjoy 25 per cent of the total market share. Moreover, this trend is increasing with great speed.
Import numbers have been rising substantially year after year due to extremely and unreasonably low prices offered by Indonesian and Vietnamese spinners on account of huge idle capacities created owing to their government’s incentives, Garg added.
Fibre2Fashion News Desk (DS)
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