Home / Knowledge / News / Textiles / TPP scrapping may benefit Indian textiles
TPP scrapping may benefit Indian textiles
28
Nov '16
United States President-elect Donald Trump has announced that the US will quit Trans-Pacific Partnership (TPP) trade deal on his first day in the White House. This announcement has also revived the hopes of Indian textile and garment industry for doing business with the US. Trump, in a video had said that TPP is a potential disaster for the US. 

“We are relieved with Trump’s announcement. If the TPP trade policy is to be ratified, Indian textile and apparel sector will incur huge loss. Withdrawal from the TPP policy will have a positive effect on the Indian business, especially textiles as TTP trade deal followed the rule of ‘yarn forward’. According to this clause, there will be no export of yarn production and all the operations forwards to any of the 12 countries involved in the TPP trade pact,” Kripabar Baruah, deputy director of The Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) told Fibre2Fashion.

“If the TPP policy is scrapped, it will be a boon for the Indian textile market. Hopefully, more focus will now be on the Regional Comprehensive Economic Partnership deal. However, in terms of exporting to the US market, China is a strong competitor of India. China has the liberty to export multiple product lines to US. With high charges on export of man-made fibres (MMF), it is not possible for us,” said Raja M Shanmugham, president of Tirupur Exporters’ Association (TEA).

However, representatives of the Indian textile industries doubt about the trading relations with the US as Trump is determined to promote America in the production sector, “There is a difference of just around 4 per cent in the production cost of textile between China and US. With time, this difference will reduce. America will become independent in the production sector in due course of time. This will automatically affect our exports to the US,” said Baruah.

“There is a significant rise in the export of textiles to the US in the last few years. Earlier, US would import only value-added items such as embroidered and polycotton fabrics, and high-fashion products among others from our country. The situation has begun to change and the demand for yarn is also growing,” added Baruah. (RR)

Fibre2Fashion.com – India


Must ReadView All

Pic: UNCTAD

Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Textile Industry, Head honchos

Textile Industry
Head honchos

Cooperate and collaborate for greater good

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Tolga Ozkurt,

Tolga Ozkurt

Çalik Denim is among the world's top 10 premium denim manufacturers...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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


October 2020

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


Advanced Search