Bangladesh Textile Mills Association (BTMA) recently urged Finance Minister AHM Mustafa Kamal, Commerce Minister Tipu Munshi and Textiles and Jute Minister Golam Dastagir Gazi to impose anti-dumping duty on Indian yarn imports to protect the $8 billion domestic textile industry.
The backbone of Bangladesh readymade (RMG) industry, the primary textile sector annually produces yarn worth $12 billion and the local millers supply 85 per cent raw materials to the knitwear sector and 35 per cent to the woven sector. According to BTMA, Bangladeshi millers sell the widely consumed 30 carded yarn at a price between $2.80 and $2.90 per kg, whereas the same quality Indian yarn is sold between $2.60 and $2.70 per kg in Bangladesh.
The letter also asked the authorities to scrutinize import prices of yarn at land ports along the Bangladesh-India border.
BTMA President Mohammad Ali Khokon said in the letter, Bangladesh exported $566 million worth of garment items to India in the fiscal years 2017-18 and 2018-19 but imported $7.74 billion worth of textile-related items including raw cotton, cotton yarn, cotton fabrics and textiles during the same period this year.
To cushion the COVID-19 impact,primary textile millers urged for a 10 per cent increase in cash incentives from the existing 4 per cent.