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Exporters in Tirupur await trade deals

Exporters in Tirupur want issues that are hampering the growth of exports to be addressed. They want a list of fabric items to be included for import under the Export Performance Certificate, without payment of duty, so as to get the real benefit of the announcement in the budget and enhance their competitiveness in the global market.

They are also interested in a Free Trade Agreement with the European Union. Last year, the European Union received 36.97 per cent of the value of garments exported from India. Exporters feel that if the FTA with the EU takes place in the month of September this year, exports to EU can grow and witness a growth rate of 30 per cent in successive years and double in the next three years.

Exporters also want the Comprehensive Economic Partnership Agreement (CEPA) with Canada to be formalized and the Comprehensive Economic Cooperation Agreement (CECA) with Australia to be expedited.

So they say that once the FTA with the EU, CECA with Australia and CEPA with Canada are signed, there will be 30 per cent increase in exports to these countries from the existing level and, at the same time, exports to the rest of countries will grow by 10 per cent. All in all they estimate India’s total garment exports can grow to 33 billion dollars once these agreements are signed.