TEA Urges Centre To Restrict Imports Of Knitwear Fabrics From Bangladesh

Coimbatore, Oct 21 (KNN) The Tirupur Exporters Association (TEA) has sought the intervention of the Centre to restrict import of knitwear fabrics and garments from Bangladesh.

At present, Fabric is being imported from Bangladesh under a free trade agreement (FTA) without any customs duty. 

KM Subramanian, president of TEA said, “It’s the local manufacturers, who were hit due to increasing imports from Bangladesh on a monthly basis. Some mechanism has to be implemented by the Centre to restrict the import of knitwear fabrics and garments from Bangladesh.”

Import of knitted fabrics to India increased to Rs 264 crore in 2022-23 as compared to Rs 212 crore in 2021-2022 with a growth of 24.3 per cent. Similarly, knitwear garments imported to India increased to Rs 2,489 crore in 2022-23 as compared to Rs 1,576 crore recorded in 2021-2022, with a growth of 57.9 per cent.

The textile sector welcomed efforts to conclude the FTA with the UK by the end of this month and requested for an early conclusion of the FTA with the European Union, New Zealand, and the Gulf Cooperation Council.

Further, TEA urged for expediting the development of Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) park as around 50 exporting units in Tirupur have evinced interest to set up factories in it.

The association’ also demanded a production linked incentive 2.0 scheme, one-year moratorium for repayment of the principal amount as well as the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 31, 2024. 

The exporters association has also made a representation to Union Minister of Commerce and Industry Piyush Goyal by highlighting these issues.

(KNN Bureau)