Dr Sakthivel says exporters will work on FTAs/CEPAs and PLI schemes
Trade agreements being worked out with the UK, EU, GCC, Canada and South African Custom Union (SACU) would boost Indian textile exports to US$100 billion a year by 2030, according to Dr A Sakthivel, President of the Federation of Indian Export Organizations (FIEO).
Highlighting all the support given by the Government, he said, “We should endeavour to reach US$100 billion of textile exports by 2030.”
Indian exporters will build on the benefits of new free trade agreements and the production linked schemes (PLIs) to transform the country’s economy.
Giving this assurance, he said on 13 April 2022, “Exports are now set to transform the Indian economy.
“What is more important is to build on it as we will have benefits of new FTAs/CEPAs and the PLI Scheme backing us. We will build on such remarkable achievements.”
India has increased its market share in apparel exports in the US and many other countries recently.
The recently signed trade agreements with the UAE and Australia will further accelerate it, said Dr Sakthivel.
He also welcomed the reduction of customs duty on raw cotton from 10% to zero, which will push exports of apparel and made-ups sectors significantly by softening the prices of yarn and fabrics.
Cotton textile exports will get further boost as the high prices of cotton were blunting the competitive edge. fiinews.com
