Home / Knowledge / News / Textiles / Pacts with Aus, Africa can boost textile exports
Pacts with Aus, Africa can boost textile exports
12
Mar '16
With India's free trade agreements (FTAs) with the European Union and the US still some distance away, the Textiles Ministry is eyeing bilateral agreements with Australia, the Commonwealth of Independent States and Africa to boost garment exports.

The ministry is chasing a target of doubling textile exports in 10 years and is working on a new textiles policy to promote value-addition.

Textile exports are unlikely to reach their 2015-16 target of $47.5 billion (Rs 3.17 lakh crore) because the figure was $32 billion (Rs 2.14 lakh crore) till December. Last year, India's textile exports were $42 billion (Rs 2.81 lakh crore), which was in large part cotton and yarn.

“We might be a little short of target, but by and large we will achieve it,” Textiles Secretary Rashmi Verma said on the sidelines of the Indian International Handwoven Fair in Chennai.

She also said that since India did not have FTAs with the US and the EU, the sector was at a big disadvantage compared to Bangladesh and Vietnam which export textiles to the West at zero duty while Indian exporters face duties of 10-14 per cent. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Textiles | On 17th Jul 2018

Trade wars could depress medium-term growth prospects: IMF

The recently announced and anticipated tariff increases by the US and ...

Courtesy: Mat Brown from Pexels

Textiles | On 17th Jul 2018

India increases import duties on textiles & apparel

The Government of India has increased basic customs duty on several...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

Interviews View All

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

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

Eamonn Tighe
Nature Works LLC

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Yash P. Kotak
Bombay Hemp Company

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search