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Abolition of anti-dumping duty on PTA (Purified Terephthalic Acid) is a step in the right direction, say textile industry sources.
The industry has been demanding abolition of anti-dumping duty levied on PTA, the basic raw material used in the manufacture of polyester staple fibre and filaments, to remain globally competitive.
PTA attracts anti-dumping duty ranging between $27 and $160 per tonne, depending upon the country of origin. It is imported from countries such as China, Indonesia, Taiwan, Iran and Malaysia. The shortage of PTA curtails capacity utilisation of the polyester segment industry.
“This announcement would be a boost for PTA users and the entire man-made fibre textiles and clothing segment,” said the Southern India Mills’ Association Chairman Ashwin Chandran.
Allocation of Rs 1,480 crore for the next four years towards the National Technical Textile Mission is yet another welcome move, considering that the country has been importing technical textiles to the tune of $16 billion a year. This would help strengthen the technical textiles sector, which would be able to take advantage of the benefits extended under different State Textile Policies and the Technology Upgradation Fund Scheme.
SIMA has appealed for a special scheme for Cotton Development.
The Apparel Export Promotion Council Chairman, A Sakthivel, while welcoming various proposals, said the Council is studying the proposed scheme for revision of duties and taxes on exported products, wherein exporters would be digitally refunded - duties and taxes levied by the Centre/ state. This is crucial as there has been significant shrinkage in policy support in the last few months.
The Council is looking forward to the effective substitution of the EIS Scheme that was withdrawn. While the ROSCTL scheme for refund of embedded taxes is available, it is not adequate for providing a level playing field to countries that enjoy preferential market access, he said
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