India is aggressively working on the upliftment of its international relations and business opportunities with various countries. As a pivotal part of this measure, ASEAN countries are now focusing in India. Celebrating 25 years of India-ASEAN relations, stakeholders of Indian textile industry and various representatives of ASEAN countries aimed at strengthening the mutual textile trade partnership between India and the ASEAN countries at a seminar. This joint seminar was recently organised by FICCI (Federation of Indian Chamber of Commerce and Industries) and the Ministry of Textiles. The point of emphasis is that in 2016, India exported textile and apparel products worth US $ 1203 million to ASEAN countries and also imported US $ 546 million from them.
In the event, Union Textile Minister Smriti Irani launched a Coffee Table Book and emphasized in her keynote address that the discussions held at the seminar should be executed at the ground level too. Shishir Jaipuria, Chairman of FICCI Textiles Committee and CMD, Ginni Filaments Limited insisted that technical textiles should be the focus point for India, so as to support ASEAN countries. On the other hand, Ritesh K Singh, FICCI Textiles Committee Member and Group Economist, Raymond Ltd., was of the opinion that textile trade is restricted under India-ASEAN FTA. He further pointed out that this scenario needed to change as India does not impose restrictions while allowing duty-free import of apparels. This hurts the domestic industry but somehow helps China.
The event was attended by Anant Kumar Singh, Secretary, MoT; Dato Ramesh Kodammal, Co-Chairman of ASEAN India Business Council & Chairman Goldtex, Malaysia; Nora Kakilala Terrado, Under Secretary (Deputy Minister) of Trade and Investment Promotion Group (TIPG), Ministry of Trade and Industry, Philippines and Karan Singh Thakral, ED, Thakral Group of Companies, Singapore.
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