Prices of Man-Made-Fibre to rise in India as QCO looms

New Delhi, Feb 15 (KNN) Union Minister of Textiles Piyush Goyal held the first meeting with the newly constituted Textile Advisory Group in New Delhi on Tuesday.

The Textile minister in a meeting with industry associations and councils including AEPC, SRTEPC, ASFI, AMFII, CPMA and SIMA discussed the matter regarding the surge of cheap imports of Manmade Fibre (MMF) raw materials (PTA, MEG) and MMF yarn and fabric (PFY, PSF, NFY).

“To curb the imports, government will expedite enforcement of all the Quality Control Order (QCO) on the MMF products,” he said.

During the meet, Association of Man-Made fibre industry of India (AMFIl) and Association of Synthetic Fibre Industry (ASFI) presented the overview of the sector and major challenges such as the high degree of fragmentation in the downstream textile value chain from weaving to garmenting and need of protective measures to contain rising imports MMF raw materials (PTA, MEG) and MMF yarn and fabric (PFY, PSF, NFY).

The Industry associations suggested various possible solutions to strengthen and revamp the MMF value chain during the meeting.

Goyal cited the Production Linked Incentive (PLI) scheme for MMF apparel, MMF fabrics and products of technical textiles, as the Government’s flagship intervention to augment the size and scale of the domestic MMF sector and assured of providing dedicated handholding support to the PLI beneficiaries through specially designated Ministry of Textiles officers for the purpose.

He pointed out that different segments of the value chain need to be supportive to each other’s requirements and challenges for the holistic growth of the sector.

SIMA on behalf of spinners raised the issue of revision of standard input output norms under Advance Authorization Scheme. SRTEPC on behalf of fabric and made-ups, raised the issue of shortage of capacities for quality processing and effluent treatment facilities. AEPC also raised the issue of shortage of availability of high quality processed fabric.

The industry stakeholders acknowledged the need of collaborative efforts to address the issues of the MMF industry and pledged to support and handholding each other to fast-track the growth of the Indian MMF sector.  (KNN Bureau)