India Exporters Expect To Sign A Free Trade Agreement With The European Union To Promote Exports Of Cotton Textiles.

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India exporters urged the government to speed up the signing of free trade agreements with major importers such as the European Union, Australia and Canada to eliminate trade barriers.

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The cotton textile industry has a price advantage internationally, but Bangladesh, Kampuchea, Pakistan, South Africa, Turkey and Vietnam enjoy preferential tariffs in the major importing countries such as the EU, which offset this advantage.

China and Canada also have cotton textiles for India.

Higher tariffs have resulted in a severe situation for India's cotton textile exports.

Bangladesh and other countries have free trade agreements with the European Union. They often import cotton or yarns from India, which are processed into textiles at home.

To the developed countries, competition with India's textile exports.

In August 2015, India's total exports of cotton textiles amounted to US $863 million 180 thousand, compared with us $932 million 20 thousand in the same period last year, down 7.39% from the same period last year.

The total monthly export of India has fallen for 9 months.

"The continuous decline in the export of cotton textiles has aroused our deep concern. We hope that the government can take effective measures to deal with it."

R K Dalmia, chairman of India promotion cotton textile export association (Texprocil) said.

Therefore, it is of great significance to speed up the conclusion of the free trade agreement with the European Union, so that competitors in India will no longer have the import tariff advantage to the EU, but will be on the same starting line with India.

India launched negotiations on free trade agreements with the EU five years ago, but until now it has not yet formally signed, and the agreement still faces many uncertainties.

"In addition, the government should take measures to promote the development of the textile industry, such as providing 3% preferential loan interest rates for textile enterprises, and providing funds for enterprises to upgrade the technology innovation (TUFS plan), which will enhance the competitiveness of India textile in the short term and will also play a supporting role in the continuous decline of exports."

An industry expert said.