;
Home / Knowledge / News / Textiles / New Delhi urged to include textiles in MERCOSUR PTA talks
New Delhi urged to include textiles in MERCOSUR PTA talks
19
Sep '17
The Indian Texpreneurs Federation (ITF) has appealed to the commerce ministry to include textile products while negotiating expansion of its preferential trade agreement (PTA) with the MERCOSUR trading bloc in Latin America comprising Brazil, Argentina, Uruguay and Paraguay and discuss ways to reduce duties on textile products in this region.

ITF feels the region holds tremendous potential for India’s textile exports and the existing PTA does not include any textile item. The duty on most textile products in this region is very high — between 24 and 35 per cent — and the market share of Indian textile products there at present is negligible, ITF said in a recent press release.

Citing an example, ITF said though Brazil imported textile and apparel products worth $6 billion In fiscal 2015-16, India’s contribution to that was a mere $83 million.

As China is gradually losing its competitive edge in textile trade, if India can capture 15 per cent of China’s textile exports, it can double the country’s textile exports. Therefore, there is a need to focus more on free trade agreements (FTAs)and market diversification for textile products, according to ITF.

A PTA is a limited FTA where partner countries reduce import duties on a few identified products for the other. India’s exports to the MERCOSUR bloc in 2015-16 were $3.4 billion, while imports were $6.6 billion. This was just a fraction of the country’s bilateral trade with the United States valued at $68.6 billion and the European Union at $115 billion in the same fiscal. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pakistan-Italy MoU to expand economic, trade cooperation

Textiles | On 14th Dec 2018

Pakistan-Italy MoU to expand economic, trade cooperation

Pakistan and Italy recently signed a memorandum of understanding...

South African parliament ratifies AfCFTA

Textiles | On 14th Dec 2018

South African parliament ratifies AfCFTA

The South African parliament recently ratified the agreement...

Jordan PM lays foundation stone for Chinese textile unit

Textiles | On 14th Dec 2018

Jordan PM lays foundation stone for Chinese textile unit

Jordanian Prime Minister Omar Razzaz recently laid the foundation...

Interviews View All

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

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

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

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

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


December 2018

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

news category


Related Categories:

Advanced Search