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23 Feb 2024, Edition - 3146, Friday

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Coimbatore

TEA pleads for early FTA with Russia

Covai Post Network

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Coimbatore : In the backdrop of Russia giving a green signal to Bangladesh for import of garments duty free, Tirupur Exporters Association (TEA) on Saturday appealed to the Centre to negotiate and enter into Free Trade Agreement (FTA) with Russia to reap the benefit of potential market.

The green signal to Bangladesh, a competing country, would increase their exports, TEA president Raja M Shanmugham said in a statement.

In 2017-18, Russia imported Rs 241 crore worth of knitwear garments and Rs 295 crore worth of woven oness from India, he said. As Russia was importing more winter-based garments, there was the need to concentrate on manufacture of synthetic garments.

India had already negotiated with Eurasian Economic Union comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia without any progress,he pointed out. Raja Shanugam said he had sent a requisition letter to Union Commerce and Industry Minister Suresh Prabhu in the matter.

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