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January 23, 2021
Cheap imports, especially from Vietnam, Indonesia, have captured 25% of local market, producers complain
Domestic manufacturers of man-made yarn have sought an increase in import duty on the product to 10 per cent from the existing 5 per cent in the forthcoming Union Budget to put a check on its rising imports.
“Average monthly imports of man-made yarns in 2020 were 5,212 tonnes out of the total domestic monthly consumption of 22,000 tonnes. This means that imports enjoy 25 per cent of the total market share. Moreover, this trend is increasing with great speed,” pointed out the Northern India Textiles Mills Association (NITMA) in an official release circulated on Saturday.