EU-India textile leaders convene for trade talks in Brussels

The milestone event has set the stage for an enhanced textile partnership between India and the EU. Sanjay K Jain, chairman of the ICC Textile Committee and CMAI - North Region and managing director of TT Limited, represented CMAI at the conference and participated in a panel discussion on EU-India textile cooperation, the CMAI said in a press release. 

The conference highlighted the utmost significance of fostering a strong and collaborative partnership between these regions, not only to revolutionise the global textile market but also to drive transformation across various sectors.

During the meeting, key discussions addressed the challenges that European companies face in the Indian market and laid out a roadmap to achieve a mutually beneficial scenario in the FTA negotiation. There was strong advocacy from both EU and India industry leaders to implement a zero-duty policy specifically for textiles within the proposed EU-India FTA.

The focus was on market access privileges, with an emphasis on providing broader market access for European textile products in India. The discussion included addressing issues related to standards, customs procedures, and misunderstandings that have hindered this expansion.

Another important topic was the need to eliminate non-tariff barriers that are currently impeding European companies in India. These barriers range from complex standards and customs procedures to gaps in information. These obstacles not only disrupt business operations but also affect the competitive positioning of these companies.

There was also a call for policy alignment between the EU and India. This is critical, especially in industry-related laws, in order to create a level playing field and reduce discrepancies that may exist. Such alignment would streamline business operations and reduce regulatory hurdles.

Finally, the meeting acknowledged the complementary strengths of the EU and India, and the potential to leverage these to create a strong supplier bloc in the global supply chain. This partnership could significantly enhance the global competitiveness of the EU-India economic relationship.

Furthermore, to expedite progress and build confidence between the EU and India, the conference discussed the possibility of an early harvest approach, which would facilitate quicker agreements and tangible outcomes in specific areas, paving the way for further cooperation and stronger trade ties.

“India and the EU have complementing strengths in the textile Industry, that can turn into a global winner if an FTA is done between them. EU technology, design, brands, and technical strengths, if leveraged by India, can lead to a win-win situation for both sides,” said Jain at the conference.

The panel discussion was co-moderated by Dr Amit Lath, CEO of Sharda Group of Companies, Poland and recipient of the Pravasi Bharatiya Samman Award 2023 and Pratik Gadia, CEO Yarn Bazaar. Joining the panel were esteemed participants including Dirk Vantghem, director general of the European Apparel and Textile Confederation (EURATEX); Dr. Lalit Shyaam Tekchandani, co-founder of Buffering.in; and Bhadresh Dodhia, chairman of the Synthetic and Rayon Textiles Export Promotion Council and director at Dodhia Group.

The event brought together esteemed government representatives, industry heads, business leaders, academics, and civil society representatives from both Europe and India to explore new avenues of collaboration, particularly in the realm of textile cooperation and the proposed EU-India FTA.

Fibre2Fashion News Desk (NB)