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India-Australia trade pact to help boost garment exports, says AEPC

Implementation of the free trade agreement between India and Australia will help boost garment exports, AEPC said on Wednesday

India Australia | garment exports | AEPC

Press Trust of India  |  New Delhi 

apparel exports

Implementation of the free trade agreement between India and Australia will help boost garment exports, said on Wednesday.

The agreement was approved by the Australian Parliament on Wednesday, paving the way for its rollout.

Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said the duty-free access for the sector to Australia under the trade pact will bring domestic exporters at par with global competitors and make local products competitive.

"This will also provide a good opportunity for the Australian companies to embrace China plus one policy," he said.

Recently, an delegation participated in the International Sourcing Expo in Australia.

Goenka said that the Australian companies are eagerly waiting to forge stronger ties and source garment and textiles products from India and this deal will be a shot in the arm for them.

" will be facilitating the Indian companies to connect with the right partners through its export promotion initiatives," he added.

Australia has traditionally been a major trading partner for the Indian garment industry with exports occupying a share of about 4 per cent of total Australian garment imports.

"The zero-duty deal with Australia in the southern hemisphere will keep Indian factories fully utilised during its lean period with orders for spring and summer products that Indian players are best in," he noted.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, November 23 2022. 20:20 IST