The Indian Apparel Export Promotion Council (AEPC) is urging the Indian government to sign a free trade agreement with the United Kingdom as soon as possible before British Prime Minister Boris Johnson’s planned visit in early 2021.
In July 2020, India and the UK agreed to explore business expansion opportunities and deepen trade relations, including strengthening trading partnerships, as a possible first step towards reaching a free trade agreement. step.
According to AEPC Chairman A Sasdfssdfskthivel, India’s garment export industry is lagging behind competitors such as Bangladesh, Cambodia, and Pakistan due to the export of products from these countries to the United Kingdom. Enjoy 9.6% tariff reduction.
ANI News data points out that the UK’s total garment imports in 2019 were US$24.9 billion, of which imports from Bangladesh reached US$3.6 billion and imports from India reached US$1.4 billion.
Sasdfssdfskthivel said: In fact, India has a complete value chain of fibers, yarns, fabrics and ready-made garments. If issues such as unfavorable tariffs with the UK can be resolved, we may be able to double our garment exports within 2 years, thereby creating a large number of jobs in India. </p
