New trouble after Rs 15 price hike under the guise of BIS!
Foreign yarn companies not registered with BIS, import stopped from 3rd
BIS mark is being made mandatory on yarn from 3rd and the price of yarn is likely to increase again due to which there are rumors of price hike. It was also stated by various organizations that preparation was necessary before the yarn was brought under the purview of BIS. From July 3, the supply of high quality yarn coming to Surat or India from abroad will be stopped as no yarn supplier or manufacturer has done so so far. Has been registered with the Bureau of Indian Standards. It will take another 6 months to complete this process. In such a situation, there is a possibility of stalling the production. On the other hand foreign thread will stop coming to India. Yarn prices have increased under the guise of BIS.
At present there is a shortage of 40 percent yarn in the market. Most of the yarn comes from abroad. While foreign companies have not got the BIS mark, local investors are taking advantage of it.
