India is trying to gain tariff access from the European Union (EU), Canada, the United Kingdom, and the Gulf Cooperation Council (GCC). India is currently negotiating free trade agreements with these countries.
Indian Textile Minister Piyush Goyal said that India is formulating a plan to increase textile and clothing exports to US$100 billion in 2030 as the industry is showing stability Growth trend.
Minister Piyush Goyal said that India has signed trade agreements with the United Arab Emirates (UAE) and Australia, and the industry will receive tax exemptions when entering these two countries. For export applications Improved.
India is currently negotiating free trade agreements with the European Union (EU), Canada, the United Kingdom, the Gulf Cooperation Council (GCC) and other countries to obtain their market tariffs access.
In addition, Minister Piyush Goyal announced that India’s textile and clothing exports reached US$43 billion in the last fiscal year, compared with US$33 billion last year.
India’s textile and apparel industry is growing rapidly, and the country is expected to increase its export value to US$100 billion by 2030.
Minister Piyush Goyal added that the current geopolitical situation is changing, providing the industry with huge opportunities to promote exports, and emphasized the importance of increasing India’s cotton production, due to the current 1 The yield of 500 kilograms per hectare is only half of the global average. Maintaining the right balance is necessary so that both farmers and industry can purchase cotton at the right price.
