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South Africa throws up opportunities for Indian firms
11
Mar '10
South Africa could prove to be a stepping stone for India textile and apparel manufacturers to boost their exports to the US and EU, since the country has preferential trade agreements with these two regions, is the general opinion of experts.

52 Indian textile and clothing manufacturing companies are taking part in a two-day exhibition scheduled to begin from today at the Cape International Conference Centre to showcase their products to buyers and retailers in South Africa.

The Indian companies are looking forward to seizing opportunities to establish ventures with South African textile and clothing manufacturers to increase their market share in the biggest economy on the African continent.

Currently India has a 4 percent market share of the South African, which has plunged from 15 percent in the early years of the current century. Currently the country's market is dominated by Chinese goods, which has a firm grip of the market.

Indian firms could also make South Africa a manufacturing base for increasing their exports to the US as it has tariff-free market access to the US for certain clothing and textile goods as part of the African Growth and Opportunity Act (AGOA).

Fibre2fashion News Desk - India

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