2.8 C
Munich
Saturday, April 20, 2024

MPs urge Indian finance minister to not impose ADD on viscose fibre

Must read

[ad_1]

Parliamentarians from across the party lines have urged the Indian government not to accept recommendation to impose anti-dumping duty (ADD) on viscose staple fibre (VSF). Ananda Bhaskar Rapolu, former Member of Parliament (MP) and a delegate of MPs from across the political parties has urged Union finance minister Nirmala Sitharaman to act against the recent recommendation of Directorate General of Trade Remedies (DGTR) for imposing ADD on VSF.

Rapolu said in a statement, “Viscose is poor people’s silk, cotton blended with viscose is the future. (The imposition of) Anti-dumping duty will obstruct the Indian textiles industry’s future. It is time we think of how to ensure safeguards and provide a level playing field in the industry. We have conveyed this message to the finance minister and hope to see critical steps being taken by the government.”

Parliamentarians from different parties have urged the Indian government not to impose anti-dumping duty (ADD) on viscose staple fibre (VSF) to ensure a secure ecosystem. Imposing ADD on VSF can increase the cost of imported fibre by 28%, which can significantly impact the value chain and the large number of Indian weavers and spinners who depend on it.

The MPs, along with Rapolu, conveyed the urgency of the matter to the finance minister. “She understood the concerns raised and assured that necessary measures would be taken,” Rapolu said.

This endeavour by the MPs aims to ensure a secure ecosystem for India’s weavers and textile industry. They hope the government will take necessary precautions to ensure the safety and prosperity of India’s weavers, who are the heart and soul of India’s textile value chain.

It was said that India’s viscose value chain is facing a deficit since the domestic supply cannot fulfil the demand. The imports have become a source of relief for the downstream industry to procure quality raw materials at competitive prices, especially when cotton prices were surging. However, if ADD is re-imposed on VSF, the entire value chain can be in a dire state as the imported fibre will cost 28 per cent more. This will significantly impact large number of Indian weavers and spinners who rely on viscose yarn production as their source of livelihood. Hence, the present need is to ensure quality raw materials that can be procured at competitive and affordable prices. The first step towards ensuring the same is the non-imposition of the ADD on VSF, the MPs said.

Fibre2Fashion News Desk (KUL)


[ad_2]

Source link

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article