You would like to read
Mumbai (Maharashtra) [India], March 26 (ANI/NewsVoir): The Chairman of Texprocil, Manoj Patodia welcomed the initiative taken by the Ministry of Textiles, in conveying to the Commerce Ministry, to pursue and conclude a limited trade deal with the UK that includes textile and clothing products.
"The textile & clothing industry is very keen that India should sign an early Free Trade Agreement (FTA) with the UK as a duty-free regime would be beneficial in creating a level playing field with other competing nations," Patodia said.
Patodia said that the UK is one of India's largest trading partners amongst the European countries in the T & C sector accounting for almost 24 per cent of the T & C products exported from India to the EU region. With the UK signing trade agreements with 62 countries by January 1, 2021, including competing countries like Bangladesh, Pakistan, Vietnam, it becomes all the more imperative for India to conclude the limited trade deal without any delay as India stands to lose market share.
Patodia also mentioned that the proposed visit of the UK Secretary of State for International Trade, Elizabeth Truss provides an opportune moment for discussing the 'limited trade deal' which can get further cemented during UK Prime Minister Boris Johnson's likely visit to India in April.
For more information, please visit (https://www.texprocil.org)
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
DISCLAIMER
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
