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Well-conceived trade pact can open up opportunities for textile exporters

Date 12-November-2014
Subject Well-conceived trade pact can open up opportunities for textile exporters

COIMBATORE : The Indian textile industry as well as the policy makers are too focused on export incentive scheme for export promotion. This does not augur well for the industry, particularly when WTO obligation will force India to phase out all its export incentives for the sector by end of 2015, notes corporate economic advisor - Ritesh Kumar Singh.

He spoke on the role of trade policy in pushing exports and safeguarding domestic markets threatened by ever-growing low priced imports from countries like Bangladesh and China.

Highlighting the implication of Trans Pacific Partnership (TPP) for textile export and import, he said “we are at a disadvantage with regard to tariff; notwithstanding this, exporters from TPP member countries such as Vietnam will get preferential access to the US market as compared to exporters from non-TPP countries like India, putting garments exports from India to the US in a difficult situation.” “TPP therefore is going to be the biggest challenge for the Indian textile industry as US accounts for close to a-fourth of India’s apparel exports and because of duty disadvantage with Vietnam, post the trade pact,” he said .

Source : dailyshippingtimes.com

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