The move, which comes in the backdrop of a global slowdown, aims to improve profit margin amid falling demand for polyester products worldwide. "The company has shut down plants for manufacturing polyester filament yarn, polyester staple fibre, paraxylene, purified terephthalic acid and linear alkyl benzene. However, it is yet to close down the second units of PSF and PFY," sources said.
High energy costs, long a drag on India's manufacturing competitiveness, are finally easing. Power and fuel expenses accounted for 1.98 per cent of net sales in 2024-25, the lowest level in data compiled by the Centre for Monitoring Indian Economy (CMIE) over the past two decades.
Established in 1989, Hualon is an integrated polyester-to-textile maker with half a million tons of polyester capacity, 250,000 spindles for spun yarn and facilities for weaving and processing of 5,800 shuttle-less looms.
The company faced severe demand contraction in its principal market segments due to the global financial crisis. Trevira manufactures high-value branded polyester fibers and filament yarns for the automotive industries, home textiles as well as for technical applications.
The duty reduction in feedstock would strengthen the domestic manufacturing in India making it more competitive leading to surge in exports of finished goods.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
During his lifetime and after, Ambani aroused extreme responses in others.
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