Related Keywords: apparel sector, EPCG scheme, export subsidies on textile, India crossed competitiveness, India to phase out, Indian export basket, interest subvenion scheme for export credit, Japan, new foreign trade policy, other countries, Turkey, US supported by EU, WTO member countries, WTO subsidies committee meeting
In the WTO subsidies committee meetings, the WTO member countries, in particular the US supported by European Union, Turkey, Japan and others have asked India to phase out of export subsidies on textiles and the apparel sectors, Parliament was informed today.
As per the WTO data for 2006 and 2007, India has crossed the export competitiveness limit (exports reaching 3.25 percent of the world trade) consecutively for two years in these sectors, this was informed by Commerce and Industry Minister Nirmala Sitharaman in a written reply to the Lok Sabha.
