Textiles tariff move 'good for India'

The Federation of Indian Export Organisations (FIEO) today said China's decision to increase tariffs on its textile exports to the US and European Union will benefit Indian textile exports to the two regions.

Imposition of restriction or increase in export tariffs by China would definitely provide an opportunity to Indian textile manufacturers, FIEO president OP Garg said in a statement.

Much of the increase in Chinese exports is due to unfair trade practices such as export tax rebates, non-tariff loans and currency manipulation, he said.

Loss of markets for China would definitely propel Indian exports as Indian exporters are already entrenched in the US market, he added.

Earlier this month, China had announced increasing export tariffs from June 1 by up to 400 per cent on 74 categories of textile products to avoid confrontation with the EU and US.