At the recently concluded 57th edition of India International Garment Fair (IIGF), Apparel Export Promotion Council (AEPC) signed an MoU with Tehran Garment Union (TGU), to promote bilateral trade between India and Iran.
Under the MoU, both the countries will work to strengthen industrial cooperation in the textile and fashion sectors of respective nations, including sharing experiences and technical knowledge, actively cooperating to provide the relevant information, and identifying Indian and Iranian partners in order to boost import and export businesses and further facilitate and support trade relations between AEPC and TGU, elaborated Ashok G Rajani, Chairman, AEPC.
Also Read – India can capitalize in the growing Iranian market: AEPC Chief
It may be mentioned here that India’s share in Iran’s RMG import has an impeccable possibility to capture the growing Iranian market, and with this MoU in place, India is expected to become the leading textile exporter to Iran. “The MoU is a result of the persuasions and convincing that was undertaken by the delegation AEPC had sent to Iran in the month of April. The delegation had invited TGU leaders to visit the IIGF so that they could get a first-hand experience of the quality and diverse range of Indian apparel,” said AEPC Chief.
Over the years, India’s RMG export to Iran has increased significantly – from US $ 12.6 million in 2011 to US $ 21 million in 2015. The country has already agreed to reduce the tariffs on Indian products by 20-25 per cent which will further boost exports.
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