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

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
March 2017

March 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