Published
Jun 15, 2018
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TEA urges textile ministry to sign FTAs with EU, US to boost exports

Published
Jun 15, 2018

Tirupur Exporters' Association (TEA) has submitted a memorandum to the textile ministry and requested to sign Free Trade Agreements (FTA) with European Union, USA, the UK and Russia to boost textile exports.
 

TEA urges textile ministry to sign FTAs with EU, US to boost exports - F2F


TEA believes that the lack of access to key markets is hampering the growth of the sector and making India lose market share to its main competitor China.
 
"To face the onslaught of the Chinese, it was important for India to enter into FTA with EU, US, the UK and Russia, Comprehensive Economic Partnership Agreement with Australia and Comprehensive Economic Cooperation Agreement with Canada and other promising countries," TEA president Raja M Shanmugham said in a statement.

“China, by using advantages available to these countries with predominant EU and US markets, increased export and circumvented Indian industry's growth prospects in the global market, which was a real threat to the industry here,” Shanmugham added.
 
The Tiruppur Exporters’ Association had earlier written to Indian minister of commerce and industry Suresh Prabhu to initiate steps and offer incentives to the readymade garments sector until free trade agreements (FTAs) are signed with the United States and the European Union (EU), which will help create a level playing field for the industry compared to competing nations.

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