TEA seeks Gangwar's help to expedite FTAs

09 Jun '16

4 min read

It also said FTAs would indirectly help farmers because higher exports would mean higher demand for cotton. Farmers will turn into production of cotton and get good remunerative prices for their crop.

Higher exports would also address the problem of a glut in cotton yarn. Currently, spinning mills are saddled with excess cotton yarn production and stocks are piling up due to less off take in domestic as well as in export market and are struggling to sustain in the business and providing employment to workers. Once garment exports increased, there will be more investment in the spinning sector also and new units will come up which will create more employment.

Higher exports on the back of FTAs would also mean higher employment opportunities in every sector of the textile industry.

At present, the textile industry employs 80 million people directly and indirectly. “For every Additional exports of $1 billion in readymade garment export sector, the employment generation will be approximately four lakh jobs,” the memorandum said.

As far as Tirupur is concerned, there will be generation of additional employment of five lakh jobs if FTAs become operational, it said. (SH)

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