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 Countrywide Committee on Textiles and Outfits (NCTC)has appealed to Key Minister Narendra Modi seeking removing of anti-dumping duty on viscose staple fibre and redressal of VSF spun yarn availability and price tag troubles to protect against task losses across the VSF textile worth chain.

Using a severe watch of the large price tag of viscose staple fibre (VSF) in India, captains of several segments of VSF worth chain which includes the Apparel Export Marketing Council, the Confederation of Indian Textile Sector, the Outfits Makers Affiliation of India, the Indian Spinners Affiliation and the Powerloom Growth Export Marketing Council under the typical system of the NCTC have submitted a joint illustration to the Key Minister.

The illustration seeks the removing of “anti-dumping duty on import of VSF to obtain world-wide competitiveness and execute the goal of USD 350 billion by 2025 set by the Ministry of Textiles for the textiles and attire sector”.

The NCTC noticed that owing to the expanding need for viscose staple fibre and its blended textiles and clothing sector opportunities, the need for viscose staple fibre has increased steeply not only in India, but also across the world.

“As the imported yarn price tag was less costly because of to large anti-dumping duty prevailing on the domestic viscose staple fibre, the weaving and knitting sectors have been importing huge quantity of VSF spun yarn. The import of VSF spun yarn has increased from 2 million kgs for the duration of 2016-17 to fifty six million kgs for the duration of 2019-20,” the committee said.

The NCTC also highlighted in the enchantment that “in the post-Covid sector circumstance, VSF price tag has increased from USD 1.15 to USD 1.50 for every kg for the duration of the last few months”.

“As the domestic VSF price tag was pricey because of to anti-dumping duty (up to USD .512 for every kg), the need for domestic spun yarn acquired minimized and therefore, the availability and price tag are impacting the whole VSF worth chain specially the knitted and powerloom sectors,” stated the committee.

It noticed that all the main VSF powerloom clusters in the states like Tamil Nadu, Maharashtra, Gujarat, and many others are agitating towards the steep increase in VSF price ranges.

“In watch of the higher than, NCTC has appealed to the Key Minister to get rid of the anti-dumping duty levied on viscose staple fibre on a war footing to deal with the burning concern, get the rising sector opportunities and to shield the livelihoods of various lakhs of workers utilized in the VSF textile worth chain. This is the next enchantment to the Key Minister, in this regard,” it said.