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India's synthetic textile imports surge after duty on PTA
06
Oct '14
The imports of synthetic textiles by India have surged after the Indian Government imposed anti-dumping duty ranging between US$ 19.05 per ton to $117.09 per ton, on imports from China, South Korea, Thailand and the European Union, the Chemicals and Petrochemicals Manufacturers Association, India (CPMA) has said.
 
In July-August 2014, India’s polyester staple fibre (PSF) imports stood at 16,785 tonnes, which is over three times more than import of 4,441 tonnes during the same period last year, according to CPMA.
 
Similarly, India’s imports of polyester filament yarn (PFY) climbed 130 percent to 8,965 tonnes during the two-month period compared to the corresponding period of last year.
 
Most of the increase in import of PSF and PFY is due to a surge in imports from China, which poses a major risk to the Indian synthetic textile industry, according to the CPMA.
 
“China is becoming more aggressive now since its domestic demand is not growing rapidly as it used to do earlier. Recent trends indicate stagnation and flagging demand in Chinese market. Hence, renewed efforts to dump in large markets like India,” CPMA said in a statement.
 
The association said that it has also written to Minister of State for Commerce Nirmala Sitharaman, apprising her of the situation. (RKS)
 

Fibre2fashion News Desk - India

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