>>
Home / Knowledge / News / Textiles / Take Indian Inc into confidence before concluding FTAs

Take Indian Inc into confidence before concluding FTAs

07
Apr '08
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) while supporting the government in exploring possibilities for Free Trade Agreements (FTA) has simultaneously cautioned it to go slow towards FTAs unless Indian Inc is taken into confidence.

Releasing the study brought out by the ASSOCHAM on India's FTA's and the Indian Industry here on Saturday, its President Mr. Venugopal N. Dhoot emphasized that Preferential Trade Agreement (PTA) should first be concluded before FTAs are finalized to protect interests of Indian Inc.

Mr. Dhoot said that trade and comprehensive economic agreements have been signed in the past with various countries and regional blocks that have resulted into a few fallacies and hurt economic interest of Indian industry. This should not be repeated as far as proposed FTA with China is concerned, cautioned Mr. Dhoot.

The ASSOCHAM chief opposed FTA with China in one go, advising the government that a comprehensive prior consultation with Indian Inc. is necessary before such an FTA is agreed upon, which ought to be preceded by PTA.

The Chamber has prescribed a minimum period of 5 years before India and China finalise their FTA with extremely cautious approach towards it to help India nurture its business interests since India's tariff structures are much higher as compared to China and can flood India with China's products.

The ASSOCHAM President said “the ultimate goal should be an FTA with free flow of products and capital but in view of comparative disadvantage of India's manufacturing sector, a much lower tariff structure in China and its higher degree of openness, India-China FTA trade cooperation should start with an PTA with reduced tariff in a phased manner”.

Mr. Dhoot argued, “the high tariff regime in India at about 12.5% and low tariff regime of China of less than 6% and FTA between India and China might affect the economic efficiency between these countries as they would exclude and discriminate other counties”.

“This discrimination with work particularly against India because of its high tariff barriers. When India gives duty free access to China, tariff revenue previously collected on its import from China turns into export revenues for the exporting firm from China. In the process, Chinese firms will gain more compared to Indian exporters as Indian exporting firms have less to gain from the tariff free access in China”, added Mr. Dhoot.


Must ReadView All

Pic: Shutterstock

Textiles | On 27th May 2022

Material supply shortage hits Vietnam’s textile exports

Vietnamese textile firms are concerned over tight material supply...

Pic: WTO

Textiles | On 27th May 2022

WTO goods trade barometer flat due to Ukraine war, COVID-19

The Russia-Ukraine war and recent pandemic-related lockdowns in China ...

Pic: Shutterstock

Textiles | On 27th May 2022

Global crises lead to deterioration in labour market recovery: ILO

Multiple global crises are resulting in a marked deterioration in the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Textile Industry, Head honchos

Textile Industry
Head honchos

Global supply chain collapsed during the pandemic

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Rajesh Masand,

Rajesh Masand

Established in 1963, the Clothing Manufacturers Association of India, or...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Claudio Fracasso, FARÈ

Claudio Fracasso
FARÈ

Since 1970, Italy-based company FARÈ has been designing and manufacturing...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Timna Weber, Label - Timna Weber

Timna Weber
Label - Timna Weber

London-based sustainable high-end eponymous womenswear label, by designer...

Paola Masperi, Label - Mayamiko

Paola Masperi
Label - Mayamiko

Established by Paola Masperi, Mayamiko is a responsible womenswear and...

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

ESTEEMED CLIENTS

Mayer & Cie. GmbH & Co. KG
TESCO INTERNATIONAL SOURCING LIMITED
Rosset ;& Cia Limited
Taiwan Textile Federation (TTF)
Lenzing Aktiengesellschaft - India
KIABI
Marzoli Machines Textile s.r.l.
Centric Software
Benetton Group
Kern – Liebers Textile
Groz-Beckert East Asia LLP
Desigual - ABASIC, S.A.
Lisa S.P.A.
Restoque S.A.
Eurofins BLC Leather Technology Centre Ltd
GERBER TECHNOLOGY LTD.
Lifestyle
Datatex Consulting Srl
Newtech Textile Technology Development (Shanghai) Company Limited
Maceton Limited
KAS Direct Sourcing
Tradewind International Servicing
EMBEE CORPORATION
Alix Partners
Decathlon
Midas Clothing Limited
Messe Frankfurt Exhibition GmbH
Mesdan SPA
Sateri (Jiujiang) Fiber Co.,Ltd
NV Michel Van de Wiele
TESTEX AG, Swiss Textile Testing Institute
T.T. Limited
BTSR International S.P.A.
ITMA Services Pte Ltd
Lectra Technologies India Pvt Ltd.
Thai Trade Center
Messe Duesseldorf
Amazon China
COTTON COUNCIL INTERNATIONAL
Splash
Tuyap Tum Fuarcilik Yapim A.S.
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
International Sourcing Expo Australia
Coats Digital Limited
Asos
Savio Macchine Tessili S.P.A.
Bluestem Global Sourcing Limited
Loris Bellini S.r.l.
LC Waikiki
DuPont de Nemours, Inc.,
Equinox Impex India
Itema Weaving (India) Private Limited
IFF Media Ag - International Media Services
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Applied DNA Sciences Inc
Thai Acrylic Fibre Company Limited
Sportmaster Ltd.
Haelixa AG
G-Star Raw C.V.
Calvin Klein
Lululemon Athletica Inc
Vianney Textil Hogar S.A. De C.V.
Hirdaramani International Export Private Limited
Jiangsu Yingyang Nonwoven Machinery Company Limited
Aquarelle Clothing Limited
C;&A Sourcing International Ltd
TEXVALLEY MARKET LIMITED
Aramark Uniform ;& Career Apparel, LLC
Infor (Hong Kong) Limited
Datacolor AG Europe
John Varvatos
H. Stoll AG & Company KG
Aleph Srl
Indo Tex
Sainsbury's Argos Asia Limited
Palexpo SA
Brückner Trockentechnik GmbH & Co. KG
Lottmann Communications
Chico’ FAS
Jindal Worldwide Limited
SYNERGIES HONG KONG LIMITED
THE BOMBAY DYEING ;& MFG.CO. LTD
FULGAR SpA
X-Rite Asia Pacific Limited (HK)
Grasim Industries Limited
Color Service s.r.l.
Weitmann & Konrad GmbH & Co. KG
Karl Mayer Textilmaschinenfabrik GmbH
BIMBA ;& LOLA SL
Babyshop
Saurer Textile Solutions Pvt. Ltd.
FESPA (Reigate)
MAS Active / MAS Kreeda / MAS Bodyline
Brandix Lanka Limited
Seasalt Limited
CSGIA(China Screen Printing & Graphic Imaging Association)
EPCH
China World International Exhibition Company Limited
Istanbul Fuarcilik A.S.
Chori Company Limited
Nandan Denim Limited
Eastman Chemical Company
Tory Burch Hong Kong Ltd
BRINKMANN GMBH
Dow Silicones Corporation
Woolmark Services India Pvt. Ltd.
Etam Group Strategy Hong Kong Limited
DyStar India Pvt. Ltd
Bluesign Technologies Ag
SHAHI Exports Pvt Ltd
Copenhagen Fashion Summit
G.A.S. unternehmenskommunikation gmbh
USTER
Phong Phu international JSC (PPJ)
Zydex Industries
Zünd Systemtechnik AG
BTC Textiles LLC
TÜYAP IHTISAS FUARLARI A.S.
Sportswear Company Spa
Hela Clothing Pvt Ltd
Rayonese Textile Inc., Division de Culp Inc.
Comasia Limited
Boardriders Asia Sourcing Limited
Helly Hansen Far East Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Esprit Europe Services GmbH
Guess Europe Sagl,
Cat Tuong Real Estate Group Joint Stock Company
Officina Meccanica Dora Enrico Srl
Shanghai  Aige Exhibition Service Co., Ltd
Recron Polyester from Reliance Industries Limited
Kornit Digital Asia Pacific Ltd
OVS Hong Kong Sourcing Ltd.
H;&M Hennes ;& Mauritz (Far East) Ltd
Nihalani Events Management
Landmark Group
Gatsby Africa
J ;& P Coats
ZAITEX spa
Green Fibre
Walmart
GIOVANNI BOZZETTO S.p.A.
Reiter India Private Limited
Meera Dyestuff Industries
EUROVET ASIA LTD
Flainox S.r.l.
IIGM Private Limited
The LYCRA Company Singapore  Pte. Ltd
GHCL LIMITED
Thermore (Far East) Ltd.
Abit
Page Industries Limited (Bangalore)
Pt. Peraga Nusantara Jaya Sakti
IDH – The Sustainable Trade Initiative
Gokaldas Exports Limited
Lacoste (Wanchai)
Rieter India Private Limited
Gloria Jeans
Performance Days
Shima Seiki Mfg. Ltd.
The LYCRA Company Singapore  Pte. Ltd
Groz-Beckert KG
Huntsman (Singapore) Pte Ltd
Truetzschler India Private Limited
Colours India Inc
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
N9 World Technologies Private Limited
UBM China (Shanghai)
Arvind Limited
CGS Inc.
Xtema - Thomas Lebherz Textilmaschinen
Tchibo GmbH
NITI Aayog
PVH Corporation
Inter Expo Center Ltd.
Puma
Alison Hayes Romania
Stahl Holdings B.V.,
International Textile Manufacturers Federation
K AND D ITMACH EXPOSITIONS LLP
Vardhman Textile Ltd
Lenzing Aktiengesellschaft
Under Armour Global Sourcing Ltd
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Tommy Hilfiger
IKEA of Sweden AB
Target Corporation (MN)
Italian Trade Commission
BIANCA
Indofil Industries Limited - Specialty & Performance Chemicals Division
Gap International Sourcing Limited
Recron Polyester from Reliance Industries Limited
Varner AS Retail
JES MEDIA, INC
APLF Limited
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
VNU Exhibitions Asia
The Top Form Brassiere Manufacturing Company Limited

May 2022

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


Advanced Search