Govt pulls QCOs on 14 polyester inputs

and integrated backwards. We welcome the decision of the government, and we will continue to stay competitive offering the best quality products to the downstream industry for domestic and value-added export market.”

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The raw materials now free of QCOs are used to make man-made fibres, plastics, packaging, footwear, consumer goods.

(ISTOCKPHOTO)

The withdrawal of QCOs fulfils an MSME industry wish, significantly benefiting textile makers, said Rahul Mehta, chief mentor of the Clothing Manufacturers Association of India. However, it also goes against the government's original plan to expand the ambit of QCOs to cover more products.

The raw materials now free of QCOs are used to make man-made fibres, plastics, packaging, footwear, consumer goods, appliances and automotive components. Several of them are among India’s most critical chemical imports, sourced from China, South Korea, Taiwan, Saudi Arabia, the UAE, Thailand and Singapore.