Prabhu Damodaran, secretary of Texpreneurs Forum on Saturday put forth his views regarding the trade agreements between India and Bangladesh. According to him there is disparity in the trade policies between the two nations. This disparity will affect the domestic garment producers/suppliers, as China too is using the trade route through Bangladesh to dump their products.
At present, 48 types of textile items, including finished garments from Bangladesh, were being sold in India without any duty following the free trade agreement signed between the two countries.
But the yarn and fabrics exported from India were attracting duties in Bangladesh
Industrialists in the apparel sector has asked the Union Textiles Ministry to have a re-look into the existing trade agreements with Bangladesh pertaining to textiles to ensure a balance in commerce between the two nations.
The Union Textiles Ministry has sought views of the apparel sector on the trade policies after representations were made by a merchantsâ€™ chamber from North India to the Prime Ministerâ€™s office on the difficulties faced by Indian textile entrepreneurs because of the imbalances in trade between India and Bangladesh.
The textile entrepreneurs are of the opinion that the government should use the diplomatic route to convince Bangladesh to reduce the duty on yarn and fabrics sourced on large scale from India.
Bangladesh should ensure that a certain minimum quantity of the fabrics and yarn sourced from India was compulsorily used in the garments which are exported to India.
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