New Delhi [India], December 21 (ANI): The Apparel Export Promotion Council (AEPC) on Monday asked Prime Minister Narendra Modi to take up early execution of a free trade agreement (FTA) during the forthcoming visit of United Kingdom's Prime Minister Boris Johnson.
AEPC Chairman A Sakthivel said the apparel export industry, which is trying to come out of global stagnation and compete globally, is falling behind several competitors like Bangladesh, Cambodia, and Pakistan due to a duty disadvantage of 9.6 per cent in exporting to the United Kingdom.
Total import of apparel in the United Kingdom during calendar year 2019 was 24.9 billion dollars. Of this, imports from Bangladesh were worth 3.6 billion dollars and 1.4 billion dollars from India.
"This is in spite of the fact that India has a complete value chain from fibre and yarn to fabrics and apparels whereas Bangladesh has to import raw materials," said Sakthivel in a representation.
India is the second largest producer of cotton and manmade (MMF) fibres.
"If the issue of duty disadvantage with the United Kingdom is addressed, then we are likely to double our exports of apparel in two years, consequently leading to huge job creation in the country," he said. (ANI)