Home / Knowledge / News / Apparel/Garments / Leading apparel exporter backs free trade deal
Leading apparel exporter backs free trade deal
09
Jun '10
A leading exporter from Sri Lanka, already having its footprints in India, has extended its assistance to ink a fresh business deal, while fleshing out a 10-year-old agreement, to further unleash trade amidst both the countries.

Effort to materialize the Indo-Lanka Free Trade Agreement (ILFTA), to establish it as a new Comprehensive Economic Partnership Agreement (CEPA), has been delayed on account of protectionist business interests and protests, by a handful of political leaders, against it.

Pursuant to the original ILFTA, the two countries have placed a whole host of goods, already sold and with heavy duty imposition, in a 'negative list'. As also, India instead of directly putting them on the 'negative list' has imposed quotas on other items like apparels.

Mahesh Amalean, Chief of MAS, a leading garment exporter, while speaking at a business meet in Colombo said that, even prior to the free trade agreement, Sri Lanka was dealing with India, but the agreement has helped simplify things.

He further said that, they were looking forward to the expansion of the deal and dissolution of other restrictions. In spite, of the awkward dialogues, the deal had finally advanced. Also, few constraints of the earlier deal would be vindicated in CEPA.

Amante, an exclusive lingerie brand of MAS is sold in India. Nonetheless, even if the national tariffs on imports are done away with, other exporters are troubled, as they will still have to bear the burden of taxes imposed by their respective states. The deal even contains a specific provision to restrict specific goods to some peculiar ports.

However, Ashok Kantha, Indian ambassador in Colombo, said that, as compared with Sri Lanka, India has fewer items in the 'negative list' under the original deal but yet, the trade is expanding.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Marten Alkhagen
Swerea IVF AB

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silvia Venturini Fendi
Fendi s.r.l

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

Mike Hoffman
Gildan Activewear SRL

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X