NITMA hails ADD on viscose spun yarn, urges ADD for PSY
Sanjay Garg, president, North Indian Textile Mills’ Association, hailed the recommendation of DGTR to levy anti-dumping duty on viscose spun yarn. Garg also urged to levy anti-dumping duty on polyester spun yarn.
Expressing
the sincerest appreciation, with regard to recommendation of DGTR to levy the
anti-dumping duty (ADD) on viscose spun yarn originating in or exported from
Indonesia, Vietnam and China and imported into India, Sanjay Garg, President, North
Indian Textile Mills’ Association (NITMA) applauded the government and
designated authorities as it had been causing considerable amount of injury to
domestic manufacturers and same was being sought after by the industry for
quite a while.
He
then advocated levying the anti-dumping duty on polyester spun yarn (PSY).
NITMA has already been corresponding with DGTR for its speedy imposition as
both are similar articles as far as duty structure and exporting mills from
China, Vietnam and Indonesia, are concerned, he added.
Country-wise
data on import of Virgin polyester spun yarn from 2015-2020, explains the
urgent need for imposition of ADD on PSY:
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
mammoth 10,512 per cent, that is, 107 times.
Average
monthly imports for 2020 are 5,212 tonnes/month, out of the total domestic monthly
consumption of 22,000 tonnes/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 an 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
expressed his deep concern over the rise in import quantities being dumped into
India, which can potentially cause an irreparable injury to domestic PSY
spinning sector with the cascading effect, from closure of mills to NPA’s, and
eventually resulting into massive loss of employment.
As
a closing remark, Sanjay Garg, referring to the highly meaningful discussion
and exchanges with the designated authorities , expressed his firm belief and
deep admiration towards the vision of PM
Modi, ministry of finance, and ministry of commerce & industry, for series of
measures taken to propel the growth of the domestic industry as we march
steadily towards “AatmNirbhar Bharatâ€.
