October 5, 2015
The Tirupur Exporters Association (TEA) has requested Prime Minister Narendra Modi to instruct the Commerce Ministry to resume the Free Trade Agreement talks with the European Union (EU).
The European Union has always been a lucrative market for readymade garments (RMG) for Indian exporters. 43 percent of the Indian garments are exported to the EU. In a letter to the Prime Minister, copy of which was given to the media, TEA president A. Shaktivel said that of the USD 16.82 billion RMG that was exported in 2014-15, about USD7.16 billion was for the European Union.
He also added that the quality and standards of Indian RMG has improved enough to comfortably clear the European standards. “We are confident that we can edge over our competing countries and increase our market share significantly once Free Trade Agreement is implemented,” the letter said.
He said that exports to EU can be doubled in the next three years.