Polyester Fabric

India has sought consultations with Turkiye under the WTO's safeguard agreement following Ankara's decision to extend safeguard measures on polyester staple fibres. In September, Turkiye decided to extend safeguard measures against imports of polyester staple fibres. "As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with Turkiye with a view to reviewing the information provided and exchanging views on the extension of the measures," according to a communication of the World Trade Organisation (WTO). It said that India would like to propose that consultations take place virtually on October 10 or 18 or on a mutually convenient date and time. As per a provision of the Agreement on Safeguards, a WTO member country proposing to apply safeguard measures shall provide adequate opportunity for prior consultations with those members having a substantial interest as exporters of the product concerned, with a view to .

Industry body Southern India Mills Association (SIMA) has welcomed the decision of the Directorate General of Trade Remedies for rejecting the proposed anti-dumping duty on Monoetheylene Glycol. The MEG is one of the major raw materials used for the manufacture of polyester staple fibre. SIMA chairman Ravi Sam in a statement said the rejection of the levy of anti-dumping duty on MEG is a step in the right direction for the growth of Man Made Fibre sector. Extending his gratitude to Prime Minister Narendra Modi and Minister of Textiles Piyush Goyal for the decision, Sam said the Man Made Fibre sector used particularly in the polyester would be the growth engine and job creation. Adequate availability of polyester staple fibre at an internationally competitive rate would fuel the growth of emerging technical textile segment, he said. "As the country started facing cotton shortage, several hundreds of spinning, weaving mills were switching over to polyester textile clothing ...

While it will improve cost efficiencies in the textile industry, manufacturers of this key raw material may see their margins getting squeezed

After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday

Texprocil data shows 38.8% YoY dip in India's cotton yarn exports, at $1.28 bn in Q2; tepid domestic demand and rural stress add to woes

The central government has decided to increase the basic customs duty on polyester fabric to 20 per cent, from 10 per cent, with effect from last Friday.In the Goods and Services Tax regime, countervailing duty has been replaced with Integrated GST and Special Additional Duty (SAD) has been scrapped. Polyester fabric attracted 10 per cent basic customs duty, 12.5 per cent countervailing duty and four per cent SAD in the pre-GST regime. After scrapping of the SAD and levy of five per cent GST on the fabric, the imported variety attracted 10 per cent basic customs duty and five per cent IGST. This was a significant drop and the domestic manufacturing industry had petitioned in alarm, to stop cheaper import, especially from China. The industry had represented to the government and the GST Council to increase the basic customs duty.P Nataraj, chairman, The Southern India Mills' Association said the price of manmade fibre in India was higher by 20-30 per cent, due to high incidence of ...