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

Apparel/Garments | On 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

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

Kerem Durdag
Biovation II LLC

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

Silvia Venturini Fendi
Fendi s.r.l

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

Sonam & Paras Modi
SVA

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

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
February 2017

February 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