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Trade Agreement with European Countries


India is negotiating a Broad-based Bilateral Trade and Investment Agreement (India-EU BTIA) with the European Union. The negotiation started in 2007 and sixteen rounds of negotiations have been held so far. However, there has been no agreement reached in India-EU BTIA so far. is in constant touch with Ministry of Commerce & Industry, in this regard.

The government is implementing schemes like Amended Technology Upgradation Fund Scheme (ATUFS), Pradhan Mantri Paridhan Rojgar Protsahan Yojna (PMPRPY), Scheme of Rebate of State Levies (RoSL) on export of garments, Schemes for Technical Textiles, Scheme for Integrated Textile Parks (SITP), Integrated Skill Development Scheme etc. to modernize textile industry, increase production and global competitiveness.

Apart from the above, the Government has taken following initiatives to augment textile exports:

(i) MEIS Scheme under new Foreign Trade Policy 2015-20.
(ii) Restoring Interest rate subvention for pre and post shipment credit for the textile sector,
(iii) Expanding the scope of Merchandise Export from India Scheme (MEIS) since 29.10.2015 to 110 new tariff lines and increase rates or country coverage or both for 2228 existing tariff lines.
(iv) Increased Duty Drawback rates for some textile articles.
(v) Market Access Initiative (MAI) Scheme.
(vi) Market Development Assistance (MDA) Scheme.
(vii) Duty Free import of trimmings, embellishments and other specified item under Export Performance Certificate Entitlement Scheme.
The above information was given by the Minister of State, Textiles, Shri Ajay Tamta today, in a written reply to a Lok Sabha question.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 16 2017. 00:20 IST