Implementation of FTA between India, Australia to help boost garment exports: AEPC Chairman
Apparel Export Promotion Council (AEPC) Chairman Naren Goenka has said that implementation of the free trade agreement (FTA) between India and Australia will help boost garment exports. He said the duty-free access for the sector to Australia under the trade pact will bring domestic exporters at par with global competitors and make local products competitive. He noted that this will also provide a good opportunity for the Australian companies to embrace China plus one policy.
Recently, an AEPC delegation participated in the International Sourcing Expo in Australia. Goenka said that the Australian companies are eagerly waiting to forge stronger ties and source garment and textiles products from India and this deal will be a shot in the arm for them. He also said AEPC will be facilitating the Indian companies to connect with the right partners through its export promotion initiatives.
He further said Australia has traditionally been a major trading partner for the Indian garment industry with exports occupying a share of about 4 per cent of total Australian garment imports. He noted that the zero-duty deal with Australia in the southern hemisphere will keep Indian factories fully utilised during its lean period with orders for spring and summer products that Indian players are best in.
