Home / Knowledge / News / Textiles / 'Indian textile sector has reached export competitiveness'
'Indian textile sector has reached export competitiveness'
21
Feb '14
The textile sector in India has reached export competitiveness and hence it is no longer eligible for export subsidies, Mr. Rajeev Kher, who recently took over as the Commerce Secretary, has said, according to a Confederation of Indian Industry (CII) press release.
 
Speaking at the 4th CII Export Summit 2014 in New Delhi, Mr. Kher said the benefits that India enjoys at present under Annex VII of the WTO Agreement on Subsidies and Countervailing Measures (ASCM) may soon come to an end. The WTO prohibits the use of export subsidies on manufactured products as a general rule, but the countries which are listed in Annex VII of the ASCM, are exempted from the prohibition. This exemption is available until GNP per capita of a country reaches US$ 1,000 in constant 1990 dollars for three consecutive years.  
 
He informed the audience that the textile sector in India is no longer eligible for export subsidies as it has become competitive. Article 27.6 of WTO ASCM agreement suggests phasing out subsidies for a product that has reached export competitiveness. A product is called competitive when its share reaches at least 3.25 percent in world trade for two consecutive calendar years. 
 
Stating that export today is an important tool for economic development, Mr. Kher added, “We have to move out of a purely incentive based export model to a competitiveness based export model.” He emphasized the importance of promoting both ‘Brand India’ and ‘Indian Brands’ to enhance India’s exports.
 
Elaborating on India’s ongoing Regional Comprehensive Economic Partnership (RCEP) negotiation, he said the RCEP is being negotiated by all 10 members of the Association of Southeast Asian Nations (Asean), along with China, Japan, South Korea, Australia, New Zealand and India. He termed the RCEP as a great opportunity for India because it is going offer a huge territory for seamless movement of goods and services.
 
He informed that the Ministry of Commerce is considering FTAs with Russia, COMESA, Peru and Columbia.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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