News Tags

Related Keywords: benefit exporters of textiles, duty free entry, extension for generalised systm of preference, Federation of Indian Export Organisations, from US government, increase the quantum of exports, Indian exprters, into US market, product lines

Indian exporters, after an 18 months prolonged wait finally gets extension for generalised system of preference (GSP) from the US government on Tuesday. The US government has renewed GSP benefits for Indian exporters, retrospectively from August 2013 till December 2017, enabling duty-free entry of 3,500 product lines which exported in July 2013.

The move is expected to benefit exporters of textiles, engineering, gems and jewellery, and chemical products, among others, as their biggest market is the US. It is likely to increase the quantum of exports into the US markets.

Related Keywords: accessories, build its own textile industry, costly power, duty free entry, EU GSP plus, garment should have local content, import of raw material, inputs, lack of local textile industry, Philippines textile industry, relaxation of rules, temporarily export, textile export

Philippine’s inclusion in the EU’s GSP plus provides duty free entry to the EU for some of the most important Philippine exports, including and textiles has come as a gift but there are rules of origin for exports to enter duty free which is preventing the country from enjoying the expanded preferential treatment on exports to the European Union due to absence of local textile industry.

Related Keywords: Australian market, duty free entry, implemented by Australian govt, New Developing countries, raw material, wool products

The new Developing Countries (DC) Preference implemented by the Australian Government started on 1st January this eases the way for duty free entry to Australian market. Under this new system, it allows Fijian TCF manufacturers and exporters to source raw materials including wool products from more cost effective sources outside the region such as China, Bangladesh, India, Thailand and Vietnam and include it in the calculation of local content and then convert these into finished garments for duty free export into Australia.