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Yarn News   >     16-01-2018 - Tuesday

  • Sharp Rise in Imports of MMF Yarn, Cotton Fabric Post GST, Says Textile Body
  • New Delhi:Inward shipments of cotton yarn, man-made yarn and fabric have gone up dramatically post GST from July, textile industry body CITI said on Monday.
  • In a statement, the Confederation of Indian Textile Industry (CITI) said it has requested commerce and textile ministries to raise import duty on man-made fibre (MMF) yarn, cotton fabric and MMF fabrics by 15 percent to ring-fence local yarn, fabric and garment producers from the threats of cheaper import, especially from FTA nations such as Bangladesh and Sri Lanka.According to data shared by CITI, the import rose during July, August and October, but September figures were not available.
  • India's MMF yarn import hit $14.97 million in July as opposed to $8.92 million in the same month last year.
  • Cotton fabric import showed the same trend, up at $12.81 million in July against $8.84 million last year. MMF fabric import stood at $8.27 million compared to USD 6.36 million in July 2016. Similar conditions prevailed in August.
  • The overall import of textile yarn fabric and made-up articles stood at USD 153.9 million in October as against $ 137.31 million in the previous year.
  • "The government recognising the problem and threat of imports flooding the market has recently increased import duty on MMF Fabric from 10 percent to 20 percent. However, the import duty on MMF yarn and cotton fabric have been kept at the old rates," CITI Chairman Sanjay Kumar Jain said.
  • Jain held that the current scenario is impacting domestic yarn and fabric producers and garment manufacturers.

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