The present invention provides a process for the preparation of Fast Reheat (FRH) bottle grade polyethylene terephthalate (PET) resin by dispersing micron-sized carbon black in monoethylene glycol in the presence of dispersing agents and adding nano-sized particles of ferric oxide and metallic antimony to obtain a mixed carbon slurry followed by the preparation of a polymer slurry of pure terepthalic acid, mono ethylene glycol, isopthalic acid in the presence of a polymerisation catalyst and color toners, said carbon slurry and polymer slurry are added to obtain an addition mixture, which is followed by esterification and polymerisation in the presence of heat stabilizing additives to obtain Fast Reheat (PET) Resin.