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CEPA boosts India's textiles exports to Japan
26 Jun '12
1 min read
India’s textiles exports to Japan have surged by a phenomenal 51 percent after the coming into force of the Comprehensive Economic Partnership Agreement (CEPA) from August 1, 2011.
Under CEPA, Japan agreed to remove tariffs on about 97 percent of Indian goods within ten years of the implementation of the agreement, while India agreed to eliminate tariffs on 90 percent of Japanese items during the same period.
As part of CEPA, Japan ended import duties on about 2,000 textiles items with immediate effect since August 1, 2011.
This has resulted in a major boost to India’s textiles, especially yarn and fabric, exports to Japan, which grew by 51 percent during August-March 2011-12 period.
India’s overall exports to Japan rose from US$ 3.9 billion to US$ 4.6 billion during the same period.
Fibre2fashion News Desk - India
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