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US technical textile & machinery makers wary of high import duties

08
Feb '07
Import duties seem a major stumbling block for major US and other foreign technical textile and machinery manufacturing companies entering Indian shores.

This was revealed by Carl Wallace, Vice President, Glen Raven Inc, who says, “Though technical textiles have a bright future in India, import duties it imposes on foreign products (including machinery) will not render companies like ours competitive.”

“Probably, the long term picture seems more attractive to produce products near to where markets exist. But for the present, manufacturing costs also are out of place, particularly in case of India,” he added.

Technical textiles have witnessed a jump in potential in the US and companies there are considering this as “all important development,” according to Wallace who spoke over the phone to Fibre2fashion.com.

When asked if more US companies may enter this field, Wallace replied with a firm “Yes!”

Glen Raven Inc has global presence in the manufacturing of high-performance fabrics marketed as reputed brands like Sunbrella and Dickson.

From India, Arun Jariwala, President, Surat Art & Silk Cloth Manufacturing Association (SACSMA), when asked to comment on Wallace's contention, said, “Currently, import duty on technical textiles is 10 percent and is likely to come down to 7.5 percent in the forthcoming budget.”


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