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

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

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....

Marten Alkhagen
Swerea IVF AB

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

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

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:
June 2017

June 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