Textile Traders expectations from Budget 2013

Updated: February 13, 2013 15:02 IST

Surat in the western Indian state of Gujarat is home to India's biggest man-made fibre industry.And traders there are feeling the heat from China and other Asian countries. A 5 to 16.9% extra duty imposed on imported yarn makes their products more expensive.This has had a knock-on effect on the domestic weaving industry as well as the country's fibre export. Analysts feel that the anti-dumping duty, which is meant to protect the local industry from unfair competition, is being misused by bigger industrialists to gain monopoly over the trade.Big producers jack up prices to maximise profits, knowing that cheaper imported yarn is out of reach for small-scale weavers.Traders say even a partial reduction of the anti-dumping duty will help improve the situation.

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