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MoU makes India largest textile exporter to Iran
22
Jul '16
Mohamad Javad Sedghamiz, Vice President TGU with Ashok G Rajani, Chairman AEPC
Mohamad Javad Sedghamiz, Vice President TGU with Ashok G Rajani, Chairman AEPC
In a significant development for Indian garment exporters, Iran has agreed to slash import duties on Indian textile products by 20-25 % in two years and signed an MoU that would make New Delhi the largest textile exporter to Iran.

An MoU to this effect was signed between Apparel Export Promotion Council (APEC) and the powerful Teheran Garment Union (TGU) on July 18 at the 57th India International Garment Fair (IIGF) in Delhi.

TGU is an influential manufacturers and retailers association with legislative power in terms of Garment Commercial affairs in Iran.

India exported RMG worth $ 21 million to Iran which constituted a minuscule 2.5% of the $ 825 million worth of RMG that Iran imported from the world In 2015, according to UN Comtrade data 2016.

It is learnt that the MoU would remain in effect till July 18, 2017, according to a press release of APEC, which had been in talks with TGU for several months before the inking of MoU.

It was signed by APEC chairman Ashok G Rajani and TGU Vice-President Mohamad Javad Sedghamiz on behalf of their respective organisations.

As per the MoU, AEPC and TGU would make efforts to promote bilateral trade and industrial cooperation in the textile and fashion sectors by sharing experiences and knowledge, actively cooperating to provide relevant information for enhancing bilateral trade and facilitating and supporting trade relations between AEPC and TGU.

“The MOU is a result of persuasions and convincing that was undertaken by the delegation AEPC had sent to Iran in the month of April. The delegation had invited TGU leaders to visit the IIGF so that they could get a firsthand experience of the quality and diverse range of Indian apparel,” Rajani said.

The 3-day IIGF played host to 416 Indian exporters, who got opportunity to exhibit their products to foreign clients. More than 1500 international buyers and 1000 plus buying agents kept the atmosphere pulsating at the fair.

Union Minister of state for Textiles, Ajay Tamta, who inaugurated the IIGF, such events provide domestic exporters an opportunity to exhibit their products, which meets the international quality and technology standards.

“Events like these give a boost to the Make in India programme as the platform encourages smaller player and debutants to work towards making it a reality," he said. (SH)

 

Fibre2Fashion News Desk – India

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