NITMA appeals to PM Modi to stop under-invoiced imports of synthetic knitted fabrics
Northern India Textile Mills’ Association (NITMA) has appealed to Prime Minister Narendra Modi to stop under-invoiced imports of synthetic knitted fabrics that are causing irreversible damage to the domestic textile industry. According to the association, this has led to a loss of over Rs 10,000 ccore to the exchequer by evading both direct and indirect taxes.
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The appeal made by Sidharth Khanna, president of NITMA comprised a list of importers affecting these under-priced fabrics, who are circumventing HS codes to import the fabric at a price of around $1 per kg whereas the true price ranges between $ 4-6/Kg globally.
The Central government, earlier this month, had extended the imposition of a Minimum Import Price (MIP) of US$ 3.50 per Kg on 13 specific HSN codes of synthetic knitted fabrics up to March 31, 2025.
Mr. Khanna informed despite the government’s efforts to curb these under-priced imports, the import quantities have been increasing substantially
instead of decreasing. From April -June 2024 81 million kg was imported while during the July — September period 130 million kgs were imported.
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