Grasim Industries sparks outcry with push for ADD on VFY.

Grasim Industries sparked controversy for lobbying on Anti-Dumping Duty (ADD) on viscose rayon filament yarn (VFY). This move threatens Surat's textile sector, heavily reliant on VFY imports. Grasim's hefty Rs 33 crore in electoral funding fuelled suspicion of political influence. Critics accused the company of prioritizing profits over smaller businesses and weavers who face a potential Rs 40-80 per kg price hike due to ADD.

The textile industry, especially the powerloom sector, is in turmoil. The price rise adds strain to existing economic hardships. Many fear the ADD unfairly benefits large players like Grasim while hurting smaller enterprises. Mayur Golwala, a prominent industry figure, highlighted the dependence on imported VFY. He fears the ADD will cripple smaller businesses and endanger the industry's future. This incident exposes a potential conflict between corporate influence and policymaking. Grasim's role raises concerns about prioritizing domestic giants over fostering a fair and competitive textile market.