Home / Knowledge / News / Textiles / Indian & Nigerian textile sectors need closer ties: Aganga
Indian & Nigerian textile sectors need closer ties: Aganga
28
Jan '14
India and Nigeria need to have closer ties in the textiles sector, Nigeria’s Minister of Industry, Trade and Investment Olusegun Aganga said during a meeting with business delegates from India in Lagos recently.
 
Mr. Aganga said India has become Nigeria’s top trade partner and called for increased cooperation between the two nations in the areas of textiles, energy, pharmaceuticals and maritime security.
 
He added that his Ministry would collaborate with the Indian Government for industrial skill development and enhancing trade facilitation between the two countries.
 
In response, Rani Mallick, First Secretary in High Commission of India, said that the Indian Government is ready to work with Nigeria to boost skills acquisition among Nigerians and to further facilitate trade between the two countries.
 
Trade volume between India and Nigeria was US$ 16.67 billion in 2013, with the balance of trade being in favour of Nigeria, Mrs. Mallick said.
 
Mr. Aganga noted that in accordance with the Industrial Revolution Plan of the Federal Government, a new policy would soon be unveiled to revamp and fast-track the growth and development of the cotton, textile and garment sector.
 
The new policy would address the various problems facing the sector, including access to long-term finance to help the textile manufacturers enhance their production capacity.
 
Moreover, the focus of the Federal Government would be on improving the quality and quantity of the country’s trade through value addition, in order to enhance the export of finished products, and in the process create more jobs and earn greater amount of foreign exchange for the country, Mr. Aganga said.
 
A new Common External Tariff is scheduled to take effect in January 2015, which would remove the current imbalance in import tariff structure.
 

Fibre2fashion News Desk - India


Interviews View All

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

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

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

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

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search