Related Keywords: according to textile industry body CITI, Canada and Britain can equalize market access positions with key competitors like Bangladesh and Vietnam, CITI (Confederation of Indian Textile Industry) President Sanjay Jain noted that signing free trade pacts with major markets like the European Union, observing that a worrying factor is the backdoor entry of Chinese fabrics into the Indian market via Bangladesh, textile and garment exports are likely to miss the USD 45 billion target for 2017-18, US
The largest market for cotton yarn China, has imposed around 3.5 per cent import duty on yarn from India under Asia pacific Trade Agreement (APTA), while duty free access is given to Vietnam.This has led to large capacity expansion in yarn manufacturing in Vietnam, which has surpassed India to become the largest supplier of cotton yarn to China.As a result, Indias cotton yarn exports to China have decreased by 49 per cent during 2013-14 and 2016-17, while Vietnams exports of cotton yarn to China have increased by 88 per cent during the same period.
