“The concern is that Vietnam has now entered into a Free Trade Agreement with European Union which will come into effect in late 2017 or early 2018. In another two years, Vietnam will enjoy the benefit of Free Trade Agreement with EU and USA. Moreover, in Canada market, Vietnam which was exporting less than our exports in the year 2009 have now increased their exports by two times of our exports,” he said.
Tirupur Exporters Association (TEA) President Dr A Sakthivel has expressed concern that China's recent devaluation of the yuan could hit India#
The TEA President said the Association was looking forward to the new National Textile Policy. He also said TEA has been requesting the Tamil Nadu Government to come out with the Textile Policy in line with those announced by Gujarat, Maharashtra, Madhya Pradesh and Andhra Pradesh and particularly requested to increase the TUFS Interest Subsidy and Capital Subsidy.
Despite the washout of the monsoon session of Parliament that prevented the government from passing the GST Bill, Dr Sakthivel hoped GST will come into effect from April 1, 2015. (SH)
Fibre2Fashion News Desk – India
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