NCTC appeals to PM seeking removal of anti-dumping duty on viscose staple fibre, Retail News, ET Retail

NCTC appeals to PM seeking removal of anti-dumping duty on viscose staple fibreNew Delhi: The National Committee on Textiles and Apparel (NCTC)has appealed to Key Minister Narendra Modi trying to get removal of anti-dumping duty on viscose staple fibre and redressal of VSF spun yarn availability and selling price challenges to stop work losses throughout the VSF textile worth chain.

Having a really serious see of the high selling price of viscose staple fibre (VSF) in India, captains of a variety of segments of VSF worth chain which includes the Attire Export Advertising Council, the Confederation of Indian Textile Business, the Apparel Manufacturers Association of India, the Indian Spinners Association and the Powerloom Growth Export Advertising Council under the typical system of the NCTC have submitted a joint illustration to the Key Minister.

The illustration seeks the removal of “anti-dumping duty on import of VSF to attain global competitiveness and attain the target of USD 350 billion by 2025 established by the Ministry of Textiles for the textiles and clothing sector”.

The NCTC noticed that owing to the developing demand from customers for viscose staple fibre and its blended textiles and clothing market prospects, the demand from customers for viscose staple fibre has increased steeply not only in India, but also throughout the world.

“As the imported yarn selling price was more affordable due to high anti-dumping duty prevailing on the domestic viscose staple fibre, the weaving and knitting sectors have been importing big quantity of VSF spun yarn. The import of VSF spun yarn has increased from 2 million kgs all through 2016-17 to fifty six million kgs all through 2019-twenty,” the committee stated.

The NCTC also highlighted in the enchantment that “in the publish-Covid market circumstance, VSF selling price has increased from USD 1.fifteen to USD 1.fifty for every kg all through the past several months”.

“As the domestic VSF selling price was pricey due to anti-dumping duty (up to USD .512 for every kg), the demand from customers for domestic spun yarn bought diminished and as a result, the availability and selling price are impacting the overall VSF worth chain particularly the knitted and powerloom sectors,” claimed the committee.

It noticed that all the significant VSF powerloom clusters in the states like Tamil Nadu, Maharashtra, Gujarat, etcetera are agitating towards the steep boost in VSF costs.

“In see of the earlier mentioned, NCTC has appealed to the Key Minister to clear away the anti-dumping duty levied on viscose staple fibre on a war footing to handle the burning challenge, grab the emerging market prospects and to defend the livelihoods of numerous lakhs of workers utilized in the VSF textile worth chain. This is the second enchantment to the Key Minister, in this regard,” it stated.