Summary:
Mr.
Manoj Patodia, Chairman, The Cotton Textile Export Promotion Council (TEXPROCIL) welcomed the present developments of resumption of talks under the leadership of Hon’ble Prime Minister Shri Narendra Modi. Resuming the long pending negotiations will benefit the bilateral trade between India and the European Union. Whereas, the average tariff applied on import from India into EU is approximately 9.6% for T&C products, it is "zero" for the above mentioned countries. This big duty gap compels the importers in Europe to buy more quantity from our competitors, he added. Mr.
Patodia pointed out that, if the ‘zero’ tariff advantage is extended to India also under the proposed Broad-based Trade and Investment Agreement (BTIA) between the two sides, it will go a long way in manifold increase in export of Textile & Clothing from India to the European Union trading block..