>>
Home / Knowledge / News / Textiles / Surge in prices of manmade yarns due to boost in excise duty

Surge in prices of manmade yarns due to boost in excise duty

18
Jul '09
Prices of manmade yarn have increased by 3-4 percent, due to the effect of the budgetary announcement in which excise duty on synthetic yarn has been boosted from 4 percent to 8 percent.

It is obligatory for units to pay excise duty at the fibre and yarn stage, but optional if further processing of the synthetic yarn is undertaken. This decision has been opposed tooth and nail by the textile sector.

Commenting on the surge in prices, the Managing Director of Supreme Texmart, Mr Sanjay Gupta said that, “4% additional duty has been imposed on synthetic yarns increasing burden in cost of raw material, manufacturing, finished products etc”.

He added by saying, “This has also raised the challenges from China, since due to this decision, bank credit will drop, unemployment will increase and ultimately will disturb economy of the industry”.

He concluded by saying, “The only alternative is to increase the prices of our products or shift to some other prospective markets, or shift from existing product to another product”.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Dreamstime.com

Apparel/Garments | On 22nd Jan 2022

Dhaka, Berlin sign €20.15-mn pact to improve RMG workers conditions

Bangladesh and Germany have signed an agreement to support five...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

UKVFTA brings positive results to bilateral trade: Vietnamese ministry

The recently effective UK-Vietnam FTA has led to positive outcomes,...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

Cambodia approves new projects worth $1.9 bn, including 2 garment ones

The Council for the Development of Cambodia has approved 10 projects...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Global supply chain collapsed during the pandemic

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Manish Malhotra, Label Manish Malhotra

Manish Malhotra
Label Manish Malhotra

A multitalented designer and founder of an eponymous label, Manish...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Desigual - ABASIC, S.A.
Babyshop
Vianney Textil Hogar S.A. De C.V.
Tory Burch Hong Kong Ltd
PVH Corporation
Rayonese Textile Inc., Division de Culp Inc.
Phong Phu international JSC (PPJ)
BIMBA ;& LOLA SL
Gokaldas Exports Limited
Tommy Hilfiger
LC Waikiki
Lacoste (Wanchai)
BIANCA
Permoda(Koaj/Armi/Pronto/Bkul)
Lifestyle
THE BOMBAY DYEING ;& MFG.CO. LTD
Lenzing Aktiengesellschaft
Gatsby Africa
John Varvatos
Hirdaramani International Export Private Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Midas Clothing Limited
SYNERGIES HONG KONG LIMITED
Reiter India Private Limited
Amazon China
Landmark Group
Sportswear Company Spa
Lisa S.P.A.
IDH – The Sustainable Trade Initiative
Tchibo GmbH
G-Star Raw C.V.
Walmart
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Abit
Rosset ;& Cia Limited
Guess Europe Sagl,
Etam Group Strategy Hong Kong Limited
Aramark Uniform ;& Career Apparel, LLC
Helly Hansen Far East Ltd
Aquarelle Clothing Limited
KAS Direct Sourcing
Under Armour Global Sourcing Ltd
Benetton Group
Varner AS Retail
KIABI
Alison Hayes Romania
Maceton Limited
Seasalt Limited
MAS Active / MAS Kreeda / MAS Bodyline
Recron Polyester from Reliance Industries Limited
Truetzschler India Private Limited
Huntsman (Singapore) Pte Ltd
Target Corporation (MN)
J ;& P Coats
Green Fibre
Sainsbury's Argos Asia Limited
Grasim Industries Limited
Splash
The Top Form Brassiere Manufacturing Company Limited
Puma
Alix Partners
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Sateri (Jiujiang) Fiber Co.,Ltd
Asos
NITI Aayog
Brandix Lanka Limited
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Eastman Chemical Company
Decathlon
Sportmaster Ltd.
Chico’ FAS
Gloria Jeans
Boardriders Asia Sourcing Limited
Groz-Beckert East Asia LLP
Cat Tuong Real Estate Group Joint Stock Company
OVS Hong Kong Sourcing Ltd.
TESCO INTERNATIONAL SOURCING LIMITED
T.T. Limited
Restoque S.A.
C;&A Sourcing International Ltd
Bluestem Global Sourcing Limited
Chori Company Limited
International Textile Manufacturers Federation
Esprit Europe Services GmbH
Gap International Sourcing Limited
Vardhman Textile Ltd
IKEA of Sweden AB
Page Industries Limited (Bangalore)
Arvind Limited
Lululemon Athletica Inc

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search