Home / Knowledge / News / Textiles / Peru drops safeguard investigations on cotton yarn imports from India

Peru drops safeguard investigations on cotton yarn imports from India

24
Aug '09
Peru drops Safeguard Investigations on Cotton yarn imports The efforts made by the Cotton Textiles Export Promotion Council (Texprocil) and the excellent diplomacy by Indian Embassy in Peru have led to the Peruvian authorities deciding not to impose any Safeguard duty on import of Cotton yarn into Peru.

The shipments of Cotton yarn from India would now continue without any incumbrances. Commenting on the development, Shri V.S. Velayutham, Chairman-Texprocil said that "Being the largest supplier of Cotton yarn to Peru with a share of over 80% in total Peruvian Cotton yarn imports, Indian Cotton yarn exports would have been severely impacted in case the safeguard duties were imposed".

Exports of Cotton yarn from India reached a level of US$ 94.45 million during 2008, recording an impressive growth of 73.62%. On account of the safeguard investigations, imports of Cotton yarn from India during Jan-June 2009 recorded a sharp decline of (-)54.25%, reaching a level of US$ 24.79 million. It may be recalled that, aggrieved by the downturn faced by some of the Cotton yarn producers in Peru represented by SNI (Sociedad Nacional de Industrias), a complaint was filed to "National Institute of Defense of Competition and Protection to the Intellectual Property" (INDECOPI) claiming that rising imports of Cotton yarn are causing threat to the domestic Cotton yarn producers in Peru and requested imposition of safeguard duties on imports of Cotton yarn from all countries, including India.

On behalf of Indian Cotton yarn industry as well as exporters of Cotton yarn to Peru, the Texprocil made itself known as an "Interested Party" in the Safeguard Investigation (initiated under the WTO Agreement on Safeguards) and participated in the proceedings.

The excellent commercial diplomacy undertaken by the Indian Embassy in Peru and the effective arguments made by the Texprocil led to the Peruvian Investigating Authority dropping the proceedings without imposing any safeguard duty. Shri Velayutham hopes that "With no additional duty to be paid, Indian Cotton yarn exporters now can have a sigh of relief" "The excellent support extended to us by the Ministry of Textiles and Ministry of Commerce enabled us to take up the cause of Indian Cotton yarn exporters before the Peruvian authorities. We are also extremely thankful to the Peruvian government in this regard", Shri Velayutham said.


Cotton Textiles Export Promotion Council


Must ReadView All

Pic: UNCTAD

Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


October 2020

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


Advanced Search