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Wednesday, June 19, 2024

Indian textiles ministry to exploit FTAs to address sluggish demand

The Indian textiles ministry is addressing the sluggish demand from its main textile and garment exports markets of the US and EU, by fully exploiting FTAs with countries like UAE, Japan and Australia.

Additionally, the Union Government is also strengthening existing major markets for textiles and garments, while it is also currently negotiating FTAs with various other countries.

This was mentioned by Indian Textiles Secretary Rachna Shah at a press conference held in New Delhi, the capital of India.

“The textiles ministry is also taking sufficient steps and action to address the issue of uncontrolled imports of textiles into the country,” she said.

“The ministry is monitoring surges in textile imports which we will address, and the Quality Control Order (QCO) on textile materials will control import of substandard textiles, while assuring quality of imported products,” Shah stated.

According to Shah, the factors which are impacting textile and garment exports include competitiveness, logistical costs and value chains that are spread out across the country.

“Various schemes like PM Mitra and Production Linked Incentives (PLI) will scale up production and address several issues, including exports,” she informed.

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