Govt should aggressively enter into as many FTAs as possible with textile markets in Asia, EU: Report
Updated: Oct 16, 2015 01:10:09pm
New Delhi, Oct 16 (KNN) A report on how to enable ‘Make in India’ possible in textile and apparel sector has strongly called for huge thrust required on the part of the government to aggressively enter into as many Free Trade Agreements (FTAs) as possible with select textile markets in Asia and European Union to safe guard the Indian textile and apparel industry.
The report was released by CII and Wazir Advisors at the CII Texcon 2015 here on Thursday,
“The TPP is a trade agreement that will open markets, and enable countries like Vietnam a zero-duty access to the US market for textiles, while Indian players will have to pay 14-32% duties, which will make them uncompetitive. It would have been much better had India too joined the TPP”, the report highlighted.
It also highlighted that owing to rising costs in China by three times in the last 7 years, India can easily tap a major chunk from China which holds 40 per cent of world’s total textile and apparel market share.
India can increase its share in apparel from 60 Billion USD to 200 Billion USD out of a total global market size of 800 Billion USD by 2025. But India will have to reduce the finance cost and ease the land and environment clearances, focus on economies of scale, infrastructure, skill development, technology development and brand promotion, it said.
A Memorandum of Understanding was entered between Technological University of Tajikistan (TUT) and Northern India Textile Research Association (NITRA) on the sidelines of CII Texcon 2015 to impart training and skill development as also setting up of skill development centres for core textile mills across Tajikistan.
As per the MoU, the knowledge and expertise of Indian textile research professionals and industrialists will be shared with their counterparts in Tajikistan via NITRA which is recognised by the Indian Ministry of Textiles. A delegation of 13 members of Tajikistan industry attended CII Texcon.
Additional Chief Secretary (Textile) Co-operative, Marketing and Textiles Department Government of Maharashtra, Sunil Porwal shared, “We have planned to open 8 more textile and apparel mega parks in cotyon belts like Beed, Jalgaon, Aurangabad, Buldhama, Apola, Parbohani, Jalna etc to boost textile exports. The pre-approved land banks would be earmarked by the end of November 2015”.
This is in addition to a mega park of 500 hectare already initiated by us in Amravati. We are offering interest subvention subsidy on machinery from 20 – 25 per cent. We are also committed to put in proper affluent treatment plants along with these parks so as to protect the environment, he said. (KNN Bureau)
The report was released by CII and Wazir Advisors at the CII Texcon 2015 here on Thursday,
“The TPP is a trade agreement that will open markets, and enable countries like Vietnam a zero-duty access to the US market for textiles, while Indian players will have to pay 14-32% duties, which will make them uncompetitive. It would have been much better had India too joined the TPP”, the report highlighted.
It also highlighted that owing to rising costs in China by three times in the last 7 years, India can easily tap a major chunk from China which holds 40 per cent of world’s total textile and apparel market share.
India can increase its share in apparel from 60 Billion USD to 200 Billion USD out of a total global market size of 800 Billion USD by 2025. But India will have to reduce the finance cost and ease the land and environment clearances, focus on economies of scale, infrastructure, skill development, technology development and brand promotion, it said.
A Memorandum of Understanding was entered between Technological University of Tajikistan (TUT) and Northern India Textile Research Association (NITRA) on the sidelines of CII Texcon 2015 to impart training and skill development as also setting up of skill development centres for core textile mills across Tajikistan.
As per the MoU, the knowledge and expertise of Indian textile research professionals and industrialists will be shared with their counterparts in Tajikistan via NITRA which is recognised by the Indian Ministry of Textiles. A delegation of 13 members of Tajikistan industry attended CII Texcon.
Additional Chief Secretary (Textile) Co-operative, Marketing and Textiles Department Government of Maharashtra, Sunil Porwal shared, “We have planned to open 8 more textile and apparel mega parks in cotyon belts like Beed, Jalgaon, Aurangabad, Buldhama, Apola, Parbohani, Jalna etc to boost textile exports. The pre-approved land banks would be earmarked by the end of November 2015”.
This is in addition to a mega park of 500 hectare already initiated by us in Amravati. We are offering interest subvention subsidy on machinery from 20 – 25 per cent. We are also committed to put in proper affluent treatment plants along with these parks so as to protect the environment, he said. (KNN Bureau)
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