Home / Knowledge / News / Apparel/Garments / AEPC fears Brexit will hurt Indian apparel exports
AEPC fears Brexit will hurt Indian apparel exports
25
Jun '16
The Apparel Export Promotion Council (AEPC) expressed its apprehension over UK's exit from the EU.

Although Brexit is not expected to impact the EU FTA process or timelines, the developments in that respect will take a backseat with Britain out of the picture. With Brexit on, the only way to expand business in UK, would be through bilateral negotiations, which would mean a new set of negotiations and a longer timeline, it said in a press release.

“Britain is our largest market in the European union accounting for around 30 per cent of our exports to EU. Its exit would significantly dilute the relevance of EU FTA for us. Also, the expected volatility in the markets and currencies will be coming at a time the industry is trying to revive from a five-month decline since January this year,” said Ashok G Rajani, Chairman, AEPC.

India has been holding negotiations with the European Union to conclude a Free Trade Agreement since 2007. The apparel industry has been eagerly looking forward to the India EU FTA as the most important market expansion strategy as EU has been an important market for apparel. Though its share has come down over the years from 45 per cent to 37 per cent, due to strategic efforts at market diversification, it remains the largest market for India.

At present India enjoys a 20 per cent tariff preference in the EU under its GSP programme. It is to be seen how this gets impacted after Brexit as far as exports to Britain are concerned. It would also be interesting to see how the competition unfolds in the EU, with countries with zero duty benefit in EU also losing out with Britain's exit, the AEPC release said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X