DGAD not to impose anti dumping duty on PSF imports

India government has decided not to impose anti-dumping duty on polyester staple fibre imports to India. The Directorate General of Anti-dumping and Allied Duties (DGAD), under the commerce ministry, Government of India, is not warranted on imports of polyester staple fibre (PSF) from China, Indonesia, Malaysia and Thailand. The period of investigation (POI) was 18 months from April 1, 2015 to September 30, 2016. Non-dyed PSF ranging from 0.6 to 6 Deniers are predominantly used to spin yarn of 100% PSF or in blends with natural, artificial and/or synthetic staple fibres for manufacture of textiles, sewing thread, other industrial textiles, nonwoven applications, etc. Though the import of product under consideration (PUC) has increased during POI as compared to base year, however, the quan

Read More

UP Government to set up yarn depots to sell subsidized yarn

Union Textile ministry is likely to join hands with the state government of Uttar Pradesh to set up yarn depot to sell subsidized yarn in the state. The state has garnered over Rs. 7000 crore proposals in the investors meet as industrialist are planning to revive the textile sector. The industry had faced problems due to rise in trade union troubles. Now, there are concerted efforts to reopen several closed knitting units in the state

Read More

Punjab Government reduces VAT rates for yarn

Punjab Government has issued a notification which reduces VAT rate on yarn. The state government announced reduction in VAT rates on all kinds of yarn, except polyester filament, from 6.5 per cent to 3.63 per cent. The rates will come to effect from April 1, 2016. The Punjab Spinners Association (PSA) has expressed relief at the notification. It said that the reduction in the rate of VAT would help ailing spinning mills to recover.

Read More

Synthetic yarn industry faces rough waters

With China's economy is charting untested waters, it had already begun reducing its yarn import from India. Indian yarn production has gone down 40% in the year 2015. Globally, yarn demand has fallen around 60% according to industry sources. However, as a silver lining, the industry would have bottomed out as its competitiveness against cotton yarns is rising with increase in price of cotton. Prices of major raw materials like purified terephthalic acid (PTA) and mono-ethylene glycol (MEG) have also touched multi-year lows on account of lower crude prices. Overall, synthetic yarn industry is to face rough waters in the year 2016

Read More

Indian mills modernization brings edge in world trade

Indian Spinning Industry is the most modern and efficient in the world. With 47 Million Spindles and 0.75 Mn Open-End Rotors, India has the world?s second largest spinning capacity, commanding a share of the global Cotton Yarn market . It is currently producing over 4700 million kgs of spun yarn of which over 3,400 Mn.Kgs is cotton yarn. Cotton Yarn accounts for nearly 73% of total spun yarn production. India produces a comprehensive range of yarns for every conceivable end use ? non-spun or open-end; combed or carded, basic, compact, mélange or fancy. India?s 1943 spinning mills produce them all for requirements ranging from a fine 200 count to a coarse 2 count. With more companies modernizing their mills with state-of-the-art technology, Indian cotton yarn markets is set to boost its

Read More