Apex apparel body Apparel Export Promotion Council (AEPC) today said that the EU has recently announced its scheme of Generalised Tariff Preferences (GSP) for the next three years (2017-19) in EU markets for Indian readymade garment sector.
The European Union’s scheme of GSP was scheduled to end on 31 December, 2016. Now the India’s readymade garments sector will continue to enjoy 20 percent duty preference on exports for the next three years in the EU markets.
Indian readymade garments sector continues to enjoy its position of being a beneficiary under the current scheme which has affected the textile sector through removal of this tariff preference.
The Indian RMG sector will be highly benefited from this extension of trade preferences which will continue to get duty benefits till 2019 in the EU markets, AEPC said.
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