06 August 2022, Mumbai:
EU-India Free Trade negotiations: an opportunity to rebalance trade relations and promote a global sustainable textile industry.
Today’s trade relations between the EU and India in textiles and apparel/clothing are characterised by a large and systemic trade deficit for the EU; annual imports from India exceed €6 bln (2021) – making it the 4th supplier – while EU exports to India reached just half a billion – the 20th place in our export markets.
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Today’s trade relations between the EU and India in textiles and clothing are characterised by a large and systemic trade deficit for the EU; annual imports from India exceed €6 bln (2021) – making it the 4th supplier – while EU exports to India reached just half a billion – the 20th place in our export markets.
Against this background, the free trade negotiations are an opportunity to rebalance that relationship; European textile and clothing companies can offer high-quality and innovative products for the Indian market.
EURATEX, as the voice of textiles and apparel manufacturers in Europe, supports an ambitious EU trade agenda. In this context, EURATEX highlights that the sector needs open and efficient markets.
India today benefits from reduced customs duties due to GSP. For European companies instead, market access to India is challenging.
Director General Dirk Vantyghem commented: “We look to these negotiations with great interest. The FTA is an opportunity to develop a shared ambition between the European and Indian industry to make sustainable textiles the norm, and to create a regulatory framework where our companies can compete in a free and fair environment.”
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