India imposes anti-dumping duties on nylon filament yarn
Recently, the performance of power loom weaving factories and yarn importers in India’s largest man-made fiber industry has been sluggish, mainly because the government imposed anti-dumping duties on imported nylon filament yarn from January 13 this year.
It is reported that India needs to import approximately 1,400 metric tons of nylon filament yarn every month to meet the needs of manufacturers. According to relevant policies and regulations of the Indian government, anti-dumping duties ranging from US$0.46 per kilogram to US$1.47 per kilogram will be levied on imported nylon filament yarns from China, South Korea, Chinese Taipei, Malaysia, Thailand and Indonesia on January 13 this year.
India’s largest man-made fiber industry has 600,000 weaving machines, and the man-made fibers it manufactures account for approximately 40% of India’s national man-made fiber demand. The main raw material for the production of 150,000 of the 600,000 machines is nylon filament yarn. In addition, there are about 750 warp knitting factories in the local area, with a total investment of 3 billion rupees. The main production raw material of these factories is also nylon filament yarn. India’s current monthly demand for nylon filament yarn is 5,000 metric tons, of which 3,300 metric tons are supplied locally and the rest needs to be imported.
The South Gujarat Nylon Trade Association stated that the state should create a level playing field for importers and end users of nylon filament yarn. The imposition of anti-dumping duties has caused the price of imported nylon filament yarn to skyrocket. Domestic buyers are unable to pay such high prices, and domestic nylon filament yarn sellers have taken the opportunity to monopolize prices.
On the other hand, India’s domestic weaving factories are facing fierce competition from the Chinese market as they import 300 metric tons of woven fabrics every month. Concerned people believe that the government should impose anti-dumping duties on these products rather than on raw materials.
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