“The India-EU FTA will also help
generate 2.5 million jobs in the textiles and garments export sectors
and we would be able to export apparel worth an additional USD 3 billion
to EU,” said the AEPC Chairman, Premal Udani on the sidelines of the
inauguration event of the 45th India International Garment Fair (IIGF)
in Greater Noida on Monday. ..India exported garments worth USD
5.68 billion to EU, accounting for 55 percent of the country’s total
apparel shipments in the calendar year 2009, he said. The India-EU
trade-opening pact is under negotiations for the last two years. Several
rounds of official level talks have taken place. The total bilateral
trade in the previous fiscal was USD 74 billion…Meanwhile,
inaugurating the fair, Textiles Secretary Rita Menon, said that the FTA
between India and EU would be concluded by the end of the current
fiscal…”We have taken it (about India-EU trade talks) up with
the Commerce Secretary. I do hope that by the next fiscal, there is
something in store for the textile sector,” she added…While
speaking about the fair, Udani said, “The IIGF serves as an efficient
platform for both apparel exporters and international buyers to see a
variety of garments and place orders for the coming season. It gives me
immense pleasure to witness the growth in business of both Indian
exporters and international buyers through initiatives such as IIGF.”..”The
apparel exporters have an ambitious target of USD15 billion in exports
by year 2011-12, even though last year’s exports at USD 10.64 billion
were slightly down by 2.64%. Each USD 1 billion in exports requires an
input of 36 million man-hours of work and the attendant demand for raw
materials, accessories and logisitics creates vibrancy in the entire
ecosystem,” he added…
Date:7/13/2010
Source:www.english.globalarabnetwork.com