Home / Knowledge / News / Textiles / Textiles ministry bats for FTA with EU to boost exports
Textiles ministry bats for FTA with EU to boost exports
14
Oct '16
The ministry of textiles has urged the ministry of commerce to negotiate a free trade agreement (FTA) with the European Union (EU) to boost exports. The FTA can benefit Indian companies as they are ahead of their competitors in terms of environmental compliances. The downtrend in China's textile export growth is also a favourable factor for Indian textiles.

The textiles ministry “is in constant touch with the ministry of commerce to pursue an FTA with EU to boost international trade especially in the textile sector,” textiles secretary Rashmi Verma said in New Delhi.

India has greater competitive advantage compared to countries like Bangladesh in terms of environmental compliances. Since EU countries give huge importance to environmental compliances, India stands to benefit from FTA, Verma said.

Stating that India's textile industry was at a turning point, she said, “On one hand, China's export growth in textiles is decreasing, India, riding on cost advantage, has a huge potential to play a prominent role in international textile trade.”

At present, Indian textile exports attract a 9.5 per cent duty in the EU, while countries like Bangladesh, Kenya and Ethiopia enjoy duty-free access. To offset this disadvantage, the government is considering a proposal to give access to automobiles and wine imports from the EU in return for access to Indian textiles. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

RBI Governor Urjit Patel and other officials addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

RBI withdraws the incremental CRR from Dec 10

The Reserve Bank of India (RBI) has decided to withdraw the...

Textiles | On 7th Dec 2016

‘Price-competitiveness is crucial for China yarn market’

Kikani Exports, India based yarn supplier with 12 years of experience ...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search