Government is not keen on imposing 'Anti-Dumping Duty (ADD) on polyester spun yarn in India
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09 December 2021, Mumbai:
The Indian government is not keen on imposing anti-dumping duty (ADD) on imports of polyester spun yarn (PSY) originating in or exported from China, Indonesia, and Vietnam, as recommended by the Directorate General of Trade Remedies (DGTR). This was indicated by minister of commerce and industry Piyush Goyal during his meeting with NITMA representatives.
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 the open market. The minister, however, assured the representatives of ensuring a 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 an import duty of 5.5 percent 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 percent 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 percent 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 (The news article has not been edited by DFU Publications staff)
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