The textile industry has welcome the rejection of the proposed anti-dumping duty (ADD) on Monoethylene Glycol (MEG), a major raw material used for the manufacturing of Polyester Staple Fibre.
The Directorate General of Trade Remedies (DGTR) vide its notification has rejected the proposed ADD on MEG.
Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA), Coimbatore welcomed the decision and said that it is a bold decision.
He has stated that MMF particularly polyester would be the growth engine and job-creating sector. Adequate availability of polyester staple fibre at an internationally competitive rate would fuel the growth of emerging technical textile segment.
He further added that with the country starting to face cotton shortage, several hundreds of spinning mills, weaving mills, knitting and garment capacities are switching over to polyester textile clothing manufacturing and thereby sustaining the financial viability of these segments apart from protecting the jobs of several lakhs of people.
Globally, the ratio of consumption of MMF textile fibre and cotton is 65:35 while the same is reversed in case of India as the MMF raw materials are expensive by up to 23 per cent.
