India’s withdrawal of the Quality Control Order (QCO) on several polymer and fibre intermediates is set to lift cost pressures for downstream textile producers, particularly readymade garment exporters, as per Crisil Ratings.

India’s removal of QCO norms on polymer and fibre intermediates will lower input costs for textile exporters.
Polyester yarn manufacturers are expected to post flatter 3–5 per cent revenue growth as cheaper imports drag down realisations.
Interest cover is set to weaken to 2.7–2.9 times as crude volatility and tariff gaps continue to pressure the upstream segment.

The move will make raw material imports cheaper and support volumes, but polyester yarn manufacturers could see flat revenue growth of 3–5 per cent next fiscal due to lower realisations, heightened import competition and softened crude prices.

The Ministry of Chemicals and Fertilisers scrapped the QCO on November 12, 2025, reversing a mandate introduced in October 2023 that required BIS certification to curb the influx of cheaper Chinese polyester yarn. The change is expected to ease sourcing for apparel makers, who derive 25–30 per cent of their revenue from exports, a third of which go to the US.

The home textile sector, which earns two-thirds of its revenue from exports—55–60 per cent to the US—is likely to gain less due to its stronger tilt toward cotton-based products, Crisil Ratings said in a release.

Industry analysis of 20 polyester yarn producers, representing 40–45 per cent of sector revenue, indicates weakening margins and a decline in interest cover to 2.7–2.9 times next fiscal from 3.5–3.7 times this year.

Persistent tariff disparities with competing nations, fallout from US trade actions and volatility in crude-linked input prices remain key risks across the textile chain.

Fibre2Fashion News Desk (HU)

The Indian Chamber of Commerce (ICC) has nominated Ajay Sardana as chairman of ICC National Expert Committee on Petroleum, Petrochemicals & Chemicals for 2026.

Ajay Sardana, president and head of corporate affairs at Nayara Energy has been nominated for the second year as chairman of ICC National Expert Committee on Petroleum, Petrochemicals & Chemicals for 2026.
With global experience, strong sustainability focus, and decades of industry expertise, he is expected to advance policy advocacy, innovation, and collaborative growth within the committee.

Sardana, president and head – corporate affairs at Nayara Energy, marks his fifth consecutive year as chairman/co-chairman of the Indian Chamber of Commerce (ICC) committee, “reflecting his consistent dedication to policy advocacy, sector development, and collaborative progress,” Nayara Energy said in a congratulatory message.

With an illustrious career spanning over three decades in the Industry, Sardana brings a wealth of experience and expertise to this role.

Throughout his career, Sardana has demonstrated a strong commitment to sustainability and innovation in the industry. His contributions have been recognised both nationally and globally, with prestigious awards such as the Most Influential Sustainability Leaders of India in 2018 and the PRIDE Award in Grasim.

“Humbled and honoured to be nominated for the 5th consecutive year as chairman/co-chairman of ICC’s National Expert Committees!,” Sardana said in a LinkedIn post. “I appreciate the confidence reposed in me and look forward to driving progress and excellence in our industry.”

Sardana’s international exposure includes tenures in Turkiye and Indonesia, providing him with a global perspective on the challenges and opportunities in the petrochemical sector. He holds a Master’s degree in Textiles from the Indian Institute of Technology, Delhi, and a Master’s in Business Administration from Singapore. He has also done one year leadership programme in Sustainability from WBCSD in collaboration with Yale University US.

Continuing in his role as chairman of the ICC National Expert Committee on Petrochemical Initiatives, Sardana will lead efforts to drive forward initiatives that promote sustainability, innovation, and collaboration within the Petrochemical industry.

Fibre2Fashion News Desk (RKS)