Sector cheers POY duty move

A month after the government abolished anti-dumping duty on partially oriented yarn (POY) (filament or manmade fibres) from South Korea and Turkey, domestic companies are saying this will boost Indian textiles.

"Now, raw material for manmade fibres will be cheaper," said Confederation of Indian Textiles Industry Secretary General DK Nair. He says in India, production and export of textiles is tilted towards natural fibres like cotton, whereas internationally, man-made fibres dominate.

Internationally, consumption of manmade fibres is over 60 per cent, whereas India depends more on natural fibres like cotton. The share of manmade fibres in India's consumption was only 40 per cent, which needed to be raised to the international level, he said.