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Indian textile exporters pin hopes on EU-India FTA
16
Mar '13
The textile and garment exporters of India are pinning hopes on Free Trade Agreement (FTA) between the European Union (EU) and India as it is expected to boost their exports to the EU.
 
Speaking to fibre2fashion, managing director of Nagreeka exports-leading manufacturer and exporter of cotton, yarn, and fabric, Mr. Sunil Patwari said, “The EU is a major export market for Indian textile and garment exports. So by signing the EU-India FTA, there will be an increase in our textile exports to the EU.”
 
“Our neighboring countries such as Pakistan and Bangladesh are enjoying duty-free exports to the EU in yarn, fabric and garments. Once the India EU FTA is in place, we will be able to compete with these countries in exports,” he informs. 
 
Echoing him, director of Amrit Exports -leading manufacturer and exporter of workwear, Mr. Anil Buchasia says, “Currently, India is exporting only US$ 7 billion worth of garments to the EU and the corresponding figure for China is US$ 70 billion annually. By receiving the duty-free benefits from the EU, there will be a reduction of duty to the extent of 9.6 percent.”
 
“As the production cost of apparels is increasing in China, we expect to receive more export orders from the EU,” he adds. 
 
Presently, EU levies an import duty of 9.6 percent on garments and five percent on other textile items from India, which would end as soon as the FTA is inked.
 
Last month, Union Commerce Secretary Mr. SR Rao expressed optimism that the negotiations for the EU-India FTA may conclude by March-April this year.
 

Fibre2fashion News Desk - India


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