Home / Knowledge / News / Textiles / Govt should expedite FTA with EU - Texprocil
Govt should expedite FTA with EU - Texprocil
16
Feb '10
While addressing a press conference held on the sidelines of 34th Texprocil Export Awards' function, Mr. V S Velayutham, Chairman of the Cotton Textiles Export Promotion Council (Texprocil) said that India should accelerate the process of Free Trade Agreement (FTA) with the European Union (EU) and the Textile Ministry should offer incentives for value-added textile exports in order to recoup cotton textile exports volumes, that were lost during past few years.

He also said that, the government should also clear up industry's pending arrears, of two quarters totaling to around Rs.15 billion, as early as possible.

Both the regions, India and EU, are in talks regarding FTA since sometime, but they have not been able to make progress in certain issues like imposing zero duty on certain goods, which need to be resolved at the highest level. EU has vast potential for value-added textile exports which currently attract a 10 percent levy, said Mr. Velayutham.

Home-textiles and finished products contribute around 12 percent to the overall textile exports worth above $21 billion, of which EU accounts for around $7 billion i.e. 33 percent of the market potential. He lamented the fact that, cotton textile exports that once grew by 29 percent, registered a downward trend in falling by 10 percent to $5 billion last year, he added by saying.

Vice-Chairman of Texprocil, Mr. Manickam Ramaswami stated that lack of export incentives as well as improper government policies are considered as the major causes for dwindling exports.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Larry L Kinn
Suominen Corporation

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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:
July 2017

July 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