The proposed free trade agreement between India and the 27-nation European Union (EU) will give a major boost to the country's apparel exports, AEPC said on Sunday.
Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said that the European Union is the world's largest apparel market, and the trade pact represents a once-in-a-generation opportunity for India's garment sector, which currently exports over USD 4.5 billion worth of apparel.
Indian garment exporters have long faced tariff disadvantages compared to competing nations such as Bangladesh, Vietnam, and Turkey, he said.
"Under the guidance of Prime Minister (Narendra Modi), India would have secured zero-duty market access for apparel products from the date of entry into force of the FTA (free trade agreement)," he said.
Such a provision, he said, is crucial for employment-led growth, strengthening MSMEs, supporting women-intensive manufacturing, and enhancing India's global competitiveness in the apparel sector.
Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said that the European Union is the world's largest apparel market, and the trade pact represents a once-in-a-generation opportunity for India's garment sector, which currently exports over USD 4.5 billion worth of apparel.
Indian garment exporters have long faced tariff disadvantages compared to competing nations such as Bangladesh, Vietnam, and Turkey, he said.
"Under the guidance of Prime Minister (Narendra Modi), India would have secured zero-duty market access for apparel products from the date of entry into force of the FTA (free trade agreement)," he said.
Such a provision, he said, is crucial for employment-led growth, strengthening MSMEs, supporting women-intensive manufacturing, and enhancing India's global competitiveness in the apparel sector.
