New Delhi, May 16, 2024 – CITI & Swiss Textiles joined forces to present a dynamic B2B webinar titled “Enhancing Indo-Swiss Textile & Apparel Trade,” offering invaluable insights and fostering collaboration between key stakeholders. Key industry figures including Chandrima Chatterjee, Secretary General of CITI, spearheaded discussions on critical aspects shaping the textile and apparel trade between India and Switzerland:
Key Insights Revealed:
EFTA’s Textile & Apparel Imports Surge: Reaching US$ 14.1 billion in 2023, exhibiting a robust 2.8% Compound Annual Growth Rate (CAGR) from 2019-2023.
Supplier Landscape Dynamics: China leads with 24% market share, while India emerges as the 6th largest player with 4.3% share.
Switzerland’s Dominance: Capturing a staggering 74% share of EFTA’s Textile & Apparel imports, with Norway boasting a remarkable 10.3% CAGR.
Composition of Swiss Imports: Apparel commands 80% share, with India’s exports to EFTA surpassing those of China and Italy over the past five years.
Highlights from Esteemed Speakers:
Mr. Ashwin Chandran, Dy Chairman, CITI, underscored the significance of India’s regional trade agreements, particularly emphasizing the transformative potential of the EFTA-TEPA Agreement in facilitating market access. Mr. Peter Flückiger, Chairman of the Board, SWISS TEXTILES, emphasized the profound potential of Indo-Swiss trade ties, focusing on sustainability and bilateral cooperation, especially with the impending ratification of TEPA in 2025.
Mr. Manoj Patodia, Managing Partner, Patodia Overseas Exports & Vice Chairman & MD, Prime Urban Development India Ltd, emphasized India’s sustainability efforts and digital transformation, aligning with Swiss support. Ms. Annabelle Hutter, Managing Director, Säntis Textiles, championed recycling and circular economies in the textile industry, highlighting Säntis Textiles’ innovative approaches towards sustainable textile production.