Textile Industry Welcomes Relaxation Of Qcos For Imported Polyester
(MENAFN- KNN India)
New Delhi, Jun 8 (KNN)
The textile industry has applauded the Indian government's decision to relax the mandatory Quality Control Order (QCO) for polyester fibre, filament yarn, and spun yarn imported under the Advance Authorisation Scheme, Export Oriented Units (EOUs), and Special Economic Zones (SEZs).
The QCO, issued in April 2021 by the Ministry of Chemicals and Fertilisers, had mandated that all users purchase these polyester products only from BIS-licensed domestic and international manufacturers.
While Indian companies obtained the licenses, many foreign manufacturers' applications remained pending with the BIS, hindering textile exporters relying on specified specialty fibres and yarns.
In a press release on Friday, S.K. Sundararaman, Chairman, Southern India Mills' Association (SIMA), welcomed the latest notification from June 6, 2024 relaxing the QCO norms for polyester imports under the Advance Authorisation Scheme.
This follows a similar relaxation for viscose fibre imports announced on March 11, 2024.
Under the revised rules, importers permitted under the Advance Authorisation Scheme must adhere to pre-import conditions limiting use to export purposes only, with the export obligation period reduced from 18 months to 6 months. Industry leaders lauded this as providing relief to manmade fibre (MMF) textile exporters hampered over the past two years.
Rakesh Mehra, Chairman, Confederation of Indian Textile Industry and Bhadresh Dodhia of the Manmade and Technical Textiles Export Promotion Council also endorsed the QCO relaxations, asserting the 180-day export timeframe aligns with typical textile manufacturing cycles without requiring excessive raw material inventories.
Additionally, SIMA urged the new government to extend the 5 per cent GST rate currently applied to cotton to the entire MMF textile value chain for parity.
(KNN Bureau)
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