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Govt to simplify norms in rules of origin for textiles business

09
Mar '07
NEW DELHI:


With a view to rationalise various provisions in Rules of Origins (RoO) contained in many agreements, Government has commissioned a study to form a unified RoO simplifying rules for Indian textiles business, applicable to all agreements.

“The Duty Entitlement Pass Book (DEPB) scheme is likely to be rolled over until an alternative scheme is introduced,” said G K Pillai, Commerce Secretary, at the inauguration of a seminar on Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) on Indian textiles and clothing industry organised jointly by Confederation of Indian Textile Industry (CITI) and Centre for Trade and Development (CENTAD).

There is a need for textiles industry to aggressively pursue trade negotiations conducted during conclusion of FTAs and PTAs so that their interests were safeguarded, said Pillai.

“India Inc should negotiate for a paradigm whereby reciprocity expected from Indians and their counterparts overseas is balanced,” he said.

As far as Safta is concerned, trade balances were very much in India's favour, as it was a major textiles player in the region, said Pillai, while explaining different stages of FTAs and PTAs negotiations that India has embarked upon.


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