You are here: Home » Companies » News
Business Standard

Apparel exporters seeks expeditious finalisation of India-EU FTA

As this will help exporters to have better market access, that is already enjoyed by India's competitors like Bangladesh, Vietnam etc

Press Trust of India  |  New Delhi 

Apparel exporters today sought expeditious finalisation of the India-EU Free Trade Agreement to enable better market access for Indian exporters whose total outbound shipments stood at USD 15.7 billion last year.

"India's clothing exports to the FTA countries have increased significantly after signing of the FTA/PTA (Preferential Trade) agreements.

"These markets accounted for 12 % share of India's clothing exports and around 58 % (of USD 475 mn in 2013) share in the country's global clothing import", Apparel Exports Promotion Council (AEPC) Chairman Virender Uppal said.

"We recommend the government to expedite the process of India-EU FTA finalisation, as this will help exporters to have better market access, that is already enjoyed by India's competitors like Bangladesh, Vietnam and Cambodia," Uppal said in the presence of Textiles Minister Santosh Gangwar.

Gangwar, who was here to inaugurate the India International Garment Fair said the Modi-led government attaches great importance to the textile sector which is evident from the Budgetary announcements.

"This fair will provide the much-needed opportunity to source garments from India. The whole world is looking at us with hope. This sector, which yields rich dividend in terms of forex export earnings and huge employment potential, has received attention at the highest level," Gangwar said.

"The apparel sector, being the highest employment provider after agriculture, especially for women and the other weaker section of society, has a much bigger role and responsibility to play," he added.

India International Garment Fair is India's largest garment show in South Asia, covering Apparel and Fashion Accessories. The fair, being held at Pragati Maidan, has attracted 416 buyers from across the world.

Referring to the recent budget announcements related to the textile sector, the Minister said Prime Minister Narendra Modi attaches huge importance to the sector.

Gangwar further mentioned that textile sector has found importance in the budget and thanked the Prime Minister for the announcements.

India exported clothing worth USD 2 billion to the countries or blocks with which it has inked FTAs and PTAs, out of the country's total apparel exports of USD 15.7 bn in 2013.

India also imported around USD 275 mn worth of apparel with which it has FTAs and PTAs, out of total USD 475 mn imports in 2013,making them a growing trade partner of India.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, July 14 2014. 14:30 IST
RECOMMENDED FOR YOU
.