In a recent meeting with the Union Textile Minister, Smriti Irani, the president of Tiruppur Exporters’ Association (TEA), Raja M Shanmugham urges to increase the duty drawbacks rates, rebate of state Levies (RoSL) and interest equalization scheme to bring some relief in the knitwear exporting units.
Shanmugham in a letter described the need for India to sign as quickly as possible free trade agreements with the foreign countries like European Union (EU), the United States (US) and the United Kingdom, a comprehensive economic partnership agreement (CEPA) with Australia and a comprehensive economic cooperation agreement (CECA) with Canada to have a level playing field in the global market to counter increasing Chinese investment in India’s neighbouring countries.
China is quietly entering India using the advantages made available to Bangladesh, Vietnam, Cambodia, Sri Lanka and Myanmar by the EU and the United States, TEA assumed in the letter to textile minister. TEA requested for research and development support to the Tiruppur cluster, primarily for product diversification and also strengthen the design capabilities.
– Apparel and Textile News, Apparel Talk, Indian Apparel
