Coimbatore

Power loom federation opposes anti-dumping duty on viscose yarn

Stating that imposition of anti-dumping duty on viscose spun yarn will have negative impact on Micro, Small and Medium Enterprises (MSMEs) and large group of scattered small and marginal producers, members of the Tamil Nadu Federation of Powerlooms Associations has urged the Ministry of Finance not to go ahead with the Director General of Trade Remedies (DGTR) recommendation on imposing anti-dumping duty on imports from China, Indonesia and Vietnam.

In a letter to the Minister of Finance and Corporate Affairs, New Delhi, members said that two-third of the country’s yarn needs are fulfilled by domestic procurement while the rest is imported from other countries. The letter said that due to increase in the demand for yarn, the price of domestically available yarn was hiked frequently worrying the powerloom unit owners. Imposition of anti-dumping duty will worsen the situation leading to job loss. Hence, the letter urged the ministry to drop the decision of imposing anti-dumping duty on viscose spun yarn.

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Printable version | Mar 6, 2021 5:17:56 AM | https://www.thehindu.com/news/cities/Coimbatore/power-loom-federation-opposes-anti-dumping-duty-on-viscose-yarn/article33594895.ece

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