The minister further elaborated on the plethora of opportunities in the various sectors across India
The proposed free trade agreement with the UK and the European Union will be a game changer for the domestic industry and will offer a huge advantage for apparel exporters, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that trade pacts with the UAE, Australia and Japan are providing market access for the sector. "The FTA with the UK will be a game changer for the industry, and the EU will offer a big advantage if we sign an FTA deal," he said. The negotiations for the trade agreement with the UK are in the last stage and talks with the EU are moving at a faster pace. He also said that one of the major issues regarding the poor export competitiveness of Indian apparel is poor economies of scale. The apparel industry comprises 80 per cent of exporters with around Rs 10 crore turnover and the average number of machines in Indian apparel manufacturing units is 250-400, whereas competing countries have an average of 800- 1000 machines. "Also
India for conservative norms, but EU wants more liberal criteria
India and Italy have discussed progress of talks on the proposed free trade agreement between New Delhi and the European Union (EU) and hope for its early conclusion, the commerce ministry said on Thursday. In January last year, India and the EU resumed negotiations for a free trade agreement, investment protection and Geographical Indications (GI). Italy is a member of the EU. The issue came up for discussion in the meeting of Commerce and Industry Minister Piyush Goyal and Italian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation in Foreign Office Antonio Tajani here on April 12. "The ministers underlined the importance of achieving a free, balanced and fair free trade agreement and hoped that it would be concluded soon," it said. They also agreed to the convening of the next session of the Joint Commission on Economic Cooperation (JCEC) in Rome in the last week of September. Tajani suggested the formation of a Joint Working Group in the strateg
Finance Minister Nirmala Sitharaman while speaking at the Peterson Institute for International Economics (PIIE) on Free Trade Agreements in Washington said that FTAs are being signed much faster
Free trade agreement with EU remains a long haul
Germany has shared its concerns over OBOR for its China-trade centric features