<p>New Delhi: The government on Tuesday extended the minimum import price (MIP) of $3.5 per kg on synthetic knitted fabrics till December 31 this year to help discourage inbound shipments of cheap fabrics.</p>.<p>The MIP was also extended for eight new kinds of knitted fabrics.</p>.<p>"MIP on synthetic knitted fabrics is extended from September 15 to December 31," the Directorate General of Foreign Trade (DGFT) said in a notification.</p>.Government allows non-basmati white rice exports with minimum price cap of $490 per tonne.<p>However, users or downstream industry have expressed disappointment over the move stating that the MIP would push input prices.</p>.<p>"Increase in input prices will impact price competitiveness of Indian textiles products in the global markets," an industry official said.</p>.<p>The official said that if some countries are dumping this product into India, the government should consider imposing anti-dumping duty and not MIP.</p>.<p>The MIP was first imposed on March 16, 2024.</p>.<p>Exports of man-made yarn/ fabrics and made-ups rose by 1.33 per cent to about $2 billion during April-August this fiscal. Ready-made garment shipments grew by 7.12 per cent to $6.39 billion during the period.</p>.<p>Imports of textile yarn fabric and made-up articles have increased by 4.58 per cent to $978.61 million during the five-month period of this fiscal.</p>
<p>New Delhi: The government on Tuesday extended the minimum import price (MIP) of $3.5 per kg on synthetic knitted fabrics till December 31 this year to help discourage inbound shipments of cheap fabrics.</p>.<p>The MIP was also extended for eight new kinds of knitted fabrics.</p>.<p>"MIP on synthetic knitted fabrics is extended from September 15 to December 31," the Directorate General of Foreign Trade (DGFT) said in a notification.</p>.Government allows non-basmati white rice exports with minimum price cap of $490 per tonne.<p>However, users or downstream industry have expressed disappointment over the move stating that the MIP would push input prices.</p>.<p>"Increase in input prices will impact price competitiveness of Indian textiles products in the global markets," an industry official said.</p>.<p>The official said that if some countries are dumping this product into India, the government should consider imposing anti-dumping duty and not MIP.</p>.<p>The MIP was first imposed on March 16, 2024.</p>.<p>Exports of man-made yarn/ fabrics and made-ups rose by 1.33 per cent to about $2 billion during April-August this fiscal. Ready-made garment shipments grew by 7.12 per cent to $6.39 billion during the period.</p>.<p>Imports of textile yarn fabric and made-up articles have increased by 4.58 per cent to $978.61 million during the five-month period of this fiscal.</p>