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Textile machinery output stagnant, but exports rise: M Trivedi
While speaking at the 59th Annual General Meeting of the Machinery Manufacturers’ Association (India) on September 27, 2019 at Hotel Trident, Mumbai, TMMA’s ex-Chairman Mehul Trivedi spoke on the production trends in the textile engineering industry.
MMF consumption to remain stable
In FY18, the domestic MMF industry in volume terms stood at 2,506 million kg. Domestic MMF demand witnessed an uptick of about 3.6% in FY18 on account of release of pent-up demand post the demonetisation and GST implementation.
India imposes duty on NFY from Vietnam, EU
The Indian government has imposed an anti-dumping duty ranging between $128.06 per tonne and $719.44 per tonne for five years on import of nylon filament yarn from Vietnam and the European Union.
Taiwan’s NFY export to India plummets
Taiwan used to be a large supplier of nylon filament yarn to India with a 12 per cent market share in 2012, but last year its share fell to 7.18 per cent. India has recommended withdrawing anti-dumping duties on imports of nylon filament yarns from Taiwan and five other nations.
AD duty on NFY extended
The Finance Ministry in India has extended by one year the validity of anti-dumping duty on nylon filament yarn from China, Chinese Taipei, Malaysia, Indonesia, Thailand and South Korea. The revenue department has also extended by one year the validity of anti dumping duty on Saccharin imports from China.
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