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Indian textile sector pins hope on Sharma's Pak visit

13
Feb '12
The Indian textile community is laying hopes on the positive outcome of the visit of the Indian Commerce Minister to Pakistan which is expected to provide 'Most Favoured Nation' (MFN) status to India.

Commerce Minister Anand Sharma is currently on a visit to Pakistan for bilateral talks and is leading a 150-strong high powered business delegation from India.

It is widely expected that Pakistan may place textile and clothing on the negative MFN list in a bid to safeguard and protect its domestic textile industry.

Mr Anand Sharma and Pakistani commerce minister, Mr Makhdoom Amin Fahim, will meet business chambers of the two countries and visit the India Show in Lahore.

However, the Pakistani textile and clothing industry has a different take.

In an exclusive interview to fibre2fashion, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) had said granting of most favoured nation (MFN) status by Pakistan to India will benefit apparel sectors of both countries

Currently, Indian imports of Pakistani goods stand at around a measly US $400 million and exports at around $2.4 billion. According to experts, bilateral trade has potential to reach $10 billion.

Fibre2fashion News Desk - India


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