New Delhi, April 10 (IANS) The government has approved 52 new applications under Round III of the Production-Linked Incentive Scheme for Textiles, which are expected to attract an investment of Rs 6,708 crore. While five of these applications are for man‑made fibre apparel, 19 are for man‑made fibre fabrics, 18 for technical textiles, and 10 for the multiple segment, according to a statement issued by the Ministry of Textiles on Friday.The investment in these textile manufacturing uni…
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New Delhi, Feb 7 (IANS) The US trade agreement framework represents a historic milestone for India’s textiles and apparel sector, industry leaders said on Saturday.On behalf of the entire textile and apparel industry, Dr A Sakthivel, Chairman of the AEPC (the official body of apparel exporters in India), welcomed the India-US joint statement on the trade deal. “The coming decade is poised to be India’s decade in textile trade, as the country emerges as one of the most preferred sourcing de…
New Delhi, Feb 7 (IANS) Although full details are yet to emerge, the interim India-US trade deal framework indicates that India has received ‘best deal’ from the United States compared to others, including all its neighbours.The trade deal unlocks the power of two large democracies working together for the shared prosperity of their people, giving unprecedented opportunities for farmers, MSMEs, entrepreneurs, and skilled workers.The uniform 18 per cent rate gives India an edge over several c…
New Delhi, Feb 7 (IANS) India has safeguarded the sensitivities of its agriculture and animal husbandry sectors in the interim US trade deal, Finance Minister Nirmala Sitharaman said on Saturday.As part of the interim trade deal framework, the US will slash reciprocal tariffs on Indian goods to 18 per cent, providing a huge market opportunity in key sectors such as textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal products, and sele…
New Delhi, Feb 7 (IANS) The trade agreement will help India and the US remain focussed on working together to further deepen economic cooperation, reflecting shared commitment to sustainable growth for our people and businesses, Commerce and Industry Minister Piyush Goyal said on Saturday.India has reached a framework for an Interim Agreement with the US.“This will open a $30 trillion market for Indian exporters, especially MSMEs, farmers and fishermen. The increase in exports will create lakh…
Washington, Feb 7 (IANS) India gained tariff relief, better market access, and a stronger competitive position in the United States under a new interim trade framework announced by Washington and New Delhi.The two countries said they have reached a framework for an Interim Agreement on “reciprocal and mutually beneficial trade.” The move keeps talks on track for a full US-India Bilateral Trade Agreement, launched by President Donald Trump and Prime Minister Narendra Modi last February.Both s…
New Delhi, Jan 30 (IANS) Prime Minister Narendra Modi on Friday highlighted that the historic India-EU free trade agreement fully aligns with the vision of making India a developed country.The Prime Minister referred to an article written by Commerce Minister Piyush Goyal stating that “the government has delivered a transformative agreement that expands markets, creates jobs and protects India’s core interests”.In the article, Goyal has stated that the India–EU free trade agreement is a hist…
New Delhi, Jan 27 (IANS) India is expected to gradually increase its market share from 5 per cent to 8-9 per cent in the EU’s ready-made garment (RMG) imports, unlocking an incremental annual export opportunity of nearly $4-4.5 billion over the medium term, a report showed on Tuesday.The European Union (EU) is the world’s largest RMG market, with imports of nearly $84 billion (excluding trade among EU countries) in 2024, according to the report by CareEdge Ratings.India currently exports $4….
New Delhi, Jan 27 (IANS) The India-EU free trade agreement (FTA), together with the government’s recent FTAs with the UK and the European Free Trade Association (EFTA), effectively opens the entire European market for Indian exporters — marking a strategic breakthrough in India’s trade diplomacy, the Federation of Indian Export Organisations (FIEO) said on Tuesday.The EU agreement comprehensively covers trade in goods and services, rules of origin, customs facilitation, trade remedies, and …
New Delhi, Jan 9 (IANS) Commerce and Industry Minister Piyush Goyal held high-level talks with the EU Trade and Economic Security Commissioner, Maros Sefcovic, in Brussels on Friday as part of the efforts to secure a mutually beneficial India-EU Free Trade Agreement (FTA).”During this dialogue, we deliberated across key areas of the proposed agreement. We reaffirmed our commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MS…