Export of cotton textiles to China on the rise: Texprocil
Export of cotton textiles to China is seeing an upward trend, according to The Cotton Textiles Export Promotion Council (Texprocil).
“Raw cotton and yarn exports increased last financial year (2018-19). We are trying to push the exports of fabric too. Higher trade will bring in investments to India,” said Siddhartha Rajagopal, executive director, Texprocil.
Between April 2018 and February 2019, exports of cotton textiles increased 69% compared with the same period in 2017-18. “This shows there is potential for textiles in China,” he said.
‘Address tariff issue’
K.V. Srinivasan, chairman, Texprocil, said in a statement that export of cotton textiles had also contributed to reducing the trade deficit between the two countries. Welcoming the efforts taken by the Union government towards reducing the trade deficit, Mr. Srinivasan said export of cotton textiles could increase further if the tariff disadvantage of 3.5% to 10% suffered by India in comparison with Vietnam, Pakistan, and Indonesia on textile products was addressed.
Higher export of cotton textiles, mainly fabrics and made-ups, could contribute significantly to further reduction of the trade imbalance and attract investments from Chinese industries that were keen to shift from China, he said.
Source :- Thehindu.com