Duty Free Access for Indian Textile Exporters to EU

As per EURATEX data release of 2012, EU garment imports are around 46.6% of its total requirement. Bangladesh and Pakistan are taking advantage of duty free access for the textiles under EU Generalized System of Preference (GSP) arrangement of GSP+ while import from Sri Lanka are allowed duty free under EU GSP provision. Under this the export from these countries does not attract import duty of average 12%, leaving India to a disadvantage of 9.6%.

Ministry of Textiles has requested Ministry of External Affairs and Department of Commerce to take suitable measures to increase exports of Indian garments and textiles into EU.

Ministry of Textiles has recommended to Ministry of Finance for extending Interest Rate Subvention Scheme for textiles export till 2016-2017.

Powered by Capital Market - Live News