India needs more FTAs to take on rivals in textile-RMG exports: VP

Addressing an Apparel Exports Promotion Council (AEPC) awards event in New Delhi yesterday, Radhakrishnan said India earlier had a few competitors globally in garment exports, but now the list of such nations includes Bangladesh, Laos, Cambodia, Vietnam and several African countries.

India should sign more FTAs to gain a level-playing field in global textile and apparel export markets with competitors like Bangladesh, Vice President C P Radhakrishnan told an AEPC awards event in New Delhi yesterday.
He said India earlier had a few competitors globally in garment exports, but the situation has changed now.
The only constraint is the FTA with the US is “a little uncertain”, he noted.

“So FTA is a must… it is the greatest advantage they are having,” Radhakrishnan was quoted as saying by a news agency.

India aims at achieving a textile market size of $350 billion by 2030, with $100 billion in textile exports, he said, urging the apparel industry to actively explore new markets and adopt eco-friendly manufacturing practices, responsible sourcing and strategies to minimise waste.

The only constraint today is the FTA with the United States is “a little uncertain”, he noted, adding that it is only a matter of time.

Acknowledging several constraints on the Indian textile and apparel industry due to geopolitical situation, he expressed confidence that India’s textiles exports will double in the next three years.

India’s textiles and apparel exports stood at $37.75 billion in fiscal 2024-25.

Fibre2Fashion News Desk (DS)