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NITMA welcomes MIP on synthetic knitted fabrics to protect domestic industry


The President of the Northern India Manmade Fibre Manufacturers Association (NITMA), Sanjay Garg, applauded the Ministry of Textiles for implementing a Minimum Import Price (MIP) on synthetic knitted fabrics.

This move comes after consistent appeals from industry representatives regarding the surge of undervalued imported fabrics. The DGFT notification, effective immediately, sets a minimum import price of $ 3.50 per kg on five specific HS codes of synthetic knitted fabrics. This measure will remain in place until September 15, 2024.

Earlier this year, during a meeting with industry representatives, Commerce and Industry Minister Piyush Goyal assured them of addressing the issue within a few months. The recent decision follows a meeting chaired by the Trade Advisor of the Ministry of Textiles to discuss the matter further.

Garg highlighted NITMA's year-long efforts in urging relevant ministries to address the problem of underpriced imported knitted fabrics. He commended the MIP implementation, which will effectively curb the import of low-priced, dumped fabrics. This decision is expected to provide much-needed relief to the domestic industry that has been impacted for years.

Garg emphasized the significance of MIP in safeguarding the domestic Man-Made Fibers (MMF) industry and ensuring a fair market for all stakeholders. He called for upholding these standards to promote growth, innovation, and prosperity within the Indian textile sector.



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