09 April 2022, Mumbai:
Welcoming the India-Australia trade pact, Apparel Export Promotion Council (AEPC) has said that the free trade deal would do away with the duty disadvantage faced by Indian garment exporters in Australia vis-a-vis rivals from China and Bangladesh.
Australia is the largest apparel importer in the southern hemisphere.
ALSO READ Prime Minister Narendra Modi's 4 points strategic pathway aiming at $400Bn exports in FY22
Indian apparels currently face an average tariff of 4.8% in Australia as against zero duty for apparel from China and Bangladesh.
Duty-free access to Indian apparel will bring us at par with global competitors and make our products competitive, said, AEPC Charman Narendra Goenka on Sunday. He said that the deal will give further fillip to exports, employment, and investment in the country's apparel industry.
Women constitute around 70% of the 14 mn workforce which is predominantly in the MSME segment.
RELATED NEWS India may become the world’s garment factory in 3 years: Chairman, AEPC
India and Australia on April 2 signed ECTA covering almost all the tariff lines dealt in by India and Australia respectively.
As per the deal, India will benefit from preferential market access provided by Australia on 100% of its tariff lines.
Join our community discussion on Virtual Fashion.
CREDITS: UNI (The news article has not been edited by DFU Publications staff)
