Indian textile companies face higher trade barriers, compared to other competing countries like Bangladesh, Vietnam and Pakistan, in the US and European Union, Parliament was informed recently.
The average tariff on textile products faced by India in the EU and US is 5.9 per cent and 6.2 per cent, respectively. In comparison, Pakistan face zero per cent and 5.3 per cent average tariff in the EU and US, respectively; for Bangladesh it is zero per cent and 3.9 per cent; whereas Vietnam attracted 6.1 per cent and 5.5 per cent tariff.
The US is the top export destination for textiles made in India with a share of 17 per cent, followed by the EU, Bangladesh, China, Pakistan, UAE, Vietnam, Sri Lanka, Brazil and South Korea, respectively, Minister of State for Textiles Ajay Tamta said in Rajya Sabha.
Source :- Dailyshippingtimes.com