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Textile manufacturers to create value chains with CLMV countries

Related Keywords: Commerce and Industry Minister, create value chains, enjoy GSP benefits, export in the EU and US, four South Asian countries, Fourth India CLMV Business Conclave, imports are allowed at zero or less duty, Indian manufacturers setup businesses in Myanmar, Nirmala Sitharaman, organised by Department of Commerce and Confederation of Indian Industry

Commerce and industry minister Nirmala Sitharaman at the Fourth India-CLMV Business Conclave organised by the Department of Commerce and Confederation of Indian Industry said that if Indian manufacturers setup businesses in Myanmar, they will enjoy GSP benefits to export in the EU and US.

Hence, the government is encouraging Indian manufacturers to create value chains with four South Asian countries to leverage the benefits doled out by the US and EU to the exporters of less developed countries.

Indian exporters to get greater market access under APTA

Related Keywords: APTA, APTA enable Indian exporters, Asia Pacific Trade Agreement, Commerce and Industry Minister, countries such as China and Korea, Exchange of tariff concessions, get greater market access, gets the Cabinet’s approval, import duty concessions, including textiles and pharma, MFN rates, Nirmala Sitharaman, sectors

The exchange of tariff concessions under the Asia Pacific Trade Agreement (APTA), gets the Cabinet’s approval on Monday, Commerce and Industry Minister Nirmala Sitharaman told media after the cabinet meeting. The APTA will enable Indian exporters to get greater market access in sectors, including textiles and pharma, in countries such as China and Korea.

Direct trade to improve with grant of MFN status to India by Pak

Related Keywords: bilateral trade, Commerce and Industry Minister, direct trade, FDI, man-made filaments, MFN status, Pakistan and India trade, SEZ, transaction cost

Pakistan has not yet granted the most favoured nation (MFN) status to India while India granted the status way back in 1996. With Pakistan granting the MFN status to India, it will open new clear direct trade between the two countries and also help in reducing transactions cost.
 
According to Commerce and Industry Minister Nirmala Sitharaman, with the grant of MFN status the trade would then take place bilaterally at significantly lower cost. It will also restore Pakistan's international commitment under WTO of reciprocity to MFN status.
 

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