According to industry insiders, Chinese companies are flooding the market with low-priced fabric and garments, causing a slump in domestic demand. These sources indicate that Chinese firms have shifted their focus to the Indian market due to weakened demand in the Western world.
Rajneesh Dhiman, president of the Punjab Dyers Association, has submitted a memorandum to the government via local BJP leaders, calling for restrictions on such imports. In his letter, Dhiman stated that heavy imports are the primary reason for the current sluggish demand for yarn and fabric. He also alleged that the government is incurring substantial losses in custom duties due to the under-billing of imports. The industry body has requested the ministry of textiles to convene a meeting to discuss this urgent issue and formulate a plan of action.
Jasvindar Singh, a trader from Ludhiana, told Fibre2Fashion, "If the dumping of Chinese textile products continues, the domestic industry will suffer severe damage. Chinese products are available at 50 per cent of the price of domestic items."
Another trader opined that imposing anti-dumping duties on fabric and garments imported from China and Bangladesh is crucial, given the current bearish textile market.
ALCHEMPro News Desk (KUL)
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