Anti-Subsidy Petition To Curb Chinese Import
Chinese imports have been impacting the domestic man-made fibre market and industry bodies led by Synthetic Rayon Textiles Export Promotion Council (SRTEPC), Federation of Indian Art Silk Weaving Industry (FIASWI) and Association of Synthetic Fibre Industry (ASFI), among others, made an anti-subsidy petition with the centre.
Industry bodies urged the government to expedite seeking clarification from the Chinese government on various subsidies offered to its exporters that leads to dumping of synthetic fibre and yarn products in India.
Four main industry bodies which represent man-made fibre industry in India together have approached the ministry of finance and ministry of commerce on how to curb cheap imports from China. These imports are mainly due to several subsidies offered by China.
Anil Rajvanshi, chairman of SRTEPC said that in their representations, they have suggested a levy of 20 per cent as anti-subsidy based on a list of over 20 subsidy schemes that are offered to Chinese exporters.
Rajvanshi said they have requested the Indian government to seek an explanation from their Chinese counterpart on the subsidies.India has a total installed capacity of five million of synthetic fibre, while China has a surplus of nine million tonnes. Due to slowdown in China, the country has been dumping the surplus into India on the back of subsidies offered by the government.