Home / Knowledge / News / Apparel/Garments / 'TPP to hit Indian textile sector'
'TPP to hit Indian textile sector'
11
Apr '16
Industry body Indian Texpreneurs Federation has warned that the Trans-Pacific Partnership will have serious implications for India's textile sector, including garment exports to the US, and has urged the government to take a closer look at the threat.

In a letter to the Commerce Minister Nirmala Sitharaman, ITF Secretary Prabhu Damodharan pointed out that exporters from TPP member countries will get preferential access to the US market while non-members like India will lose out, especially for garment exports.

He pointed out that the US imported garments $3.7 billion from India out of a total import of $82 billion in 2015. In percentage terms, the export figure was 21.5 per cent of Indian total apparel exports, down from 23 per cent in 2014.

Damodharan said that the share of India's apparel export could fall substantially if duty structure turns disadvantageous.

The ITF secretary also said that the Yarn Forward Rule (YFR) which makes it mandatory for TPP members to source yarn, fabrics and other inputs used in making clothes from TPP partner countries only to avail of duty preference will induce garment manufacturers in TPP countries to source their raw material from them at the cost of non-TPP countries like India.

Damodharan also pointed out that India's fabrics and apparel exports could take a big hit as both direct and indirect exports via Vietnam to TPP countries like the US will fall since buyers would like to procure from TPP-based vendors.

The TPP is the world's largest world's largest trade bloc. The 12 member countries signed the TPP agreement in February 2016. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search