The Confederation of Indian Textile Industry (CITI) and the Northern India Textile Mills Association (NITMA) recently welcomed the government decision to revoke anti-dumping duty (ADD) on viscose staple fibre (VSF), excluding bamboo fibre, originating in or exported from China and Indonesia. The ministry of finance notified the decision on August 12.
CITI chairman T Rajkumar said the decision will make available VSF raw materials at internationally competitive prices in India and boost the Indian man-made fibre (MMF) sector.The Confederation of Indian Textile Industry (CITI) and the Northern India Textile Mills Association (NITMA) recently welcomed the government decision to revoke anti-dumping duty (ADD) on viscose staple fibre (VSF), excluding bamboo fibre, originating in or exported from China and Indonesia. The ministry of finance notified the decision on August 12#
“This landmark decision will also promote ease of doing business in India and generate investment and employment in the VSF and MMF textile value chain,” he said in a press release.
At a meeting convened by Prime Minister Narendra Modi on December 26 last year, industry delegations had emphasised the need to address structural issues in raw material supply, such as removal of ADD on all MMF raw materials, fibres and filaments.
The VSF value chain is facing a shortage of viscose fibres as the supply is restricted to only around 200 spinning mills, while polyester fibre is available freely across segments.
NITMA president Sanjay Garg said in a statement that the downstream domestic textile industry will be substantially benefitted due to accessibility of fibre at competitive prices.
Fibre2Fashion News Desk (DS)
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
