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Yarn manufactures in india demand increase in import duties

The Indian Manmade Yarn Manufacturers Association has demand an increase in import duties as an increase in viscose staple fiber yarn imports to India and low import duties have caused a slowdown for domestic manufacturers.

VSF yarn imports to India have increased by 200 per cent year-on-year in the first five months of the current 2020 financial year. The increase in cheap yarn imports has forced domestic manufacturers to lower their prices, which has led to financial difficulties, especially for the smaller businesses.

There is at least one month of unsold inventory across both large and small spinners who are now contemplating production offs of one-two days a week. An increase in import duty on VSF yarn from 5 per cent to at least 10 per cent will give these spinners a level-playing field to the industry.

 
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