Europe India Centre for Business and Industry (EICBI) along with Mr Morten Lokkegaard, Member of European Parliament, Denmark (Chair European Parliament Delegation for Relations with India) invited selected leaders of Europe and India Textile Industry to European Parliament, Brussels to deliberate on the pros and cons of a FTA of EU-India with relationship to Textile & Clothing Industry.
The conference highlighted the utmost significance of fostering a strong and collaborative partnership between these regions, not only to revolutionize the global textile market but also to drive transformation across various sectors. The event brought together esteemed government representatives, industry heads, business leaders, academics, and civil society representatives from both Europe and India to explore new avenues of collaboration, particularly in the realm of textile cooperation and the proposed EU-India Free Trade Agreement (FTA).
● Key discussions addressed challenges faced by European companies in the Indian market and roadmap to achieve a win-win scenario in the FTA negotiation
● Strong advocacy from EU and India industry leaders for implementing zero-duty policy within proposed EU-India Free Trade Agreement (FTA) specifically for textiles
● Market Access Privileges: Focus on broader market access for European textile products in India, addressing standards, customs procedures, and misunderstandings
● Addressing Non-Tariff Barriers: Eliminate non-tariff barriers hindering European companies in India, such as standards, customs procedures, and information gaps
● Policy Alignment: Align policies between the EU and India, especially in industry-related laws, to create a level playing field and reduce discrepancies
● Complementary strengths that can be leveraged to create a strong supplier bloc in the global supply chain.
The panel discussion on EU-India textile cooperation was co-moderated by Dr Amit Lath, CEO of Sharda Group of Companies, Poland and recipient of the Pravasi Bharatiya Samman Award 2023 and Mr. Pratik Gadia, CEO Yarn Bazaar. Joining the panel were esteemed participants including Mr. Dirk Vantghem, Director General of EURATEX; Mr. Sanjay K Jain, Chairman of the ICC Textile Committee/CMAI North Region and Managing Director of TT Limited; Dr. Lalit Shyaam Tekchandani, Co-founder of Buffering.in; and Mr. Bhadresh Dodhia, Chairman of the Synthetic & Rayon Textiles Export Promotion Council and Director Dodhia Group.
“India & EU have complementing strengths in the textile Industry, that can turn into a global winner if an FTA is done between them. EU technology, design, brands and technical strengths, if leveraged by India, can lead to a win-win situation for both sides,” said Sanjay Jain, Chairman of the ICC Textile Committee/CMAI North Region and Managing Director of TT Limited.
Furthermore, to expedite progress and build confidence between the EU and India, the conference discussed the possibility of an early harvest approach, which would facilitate quicker agreements and tangible outcomes in specific areas, paving the way for further cooperation and stronger trade ties.
This milestone event sets the stage for an enhanced textile partnership between India and the EU, opening doors to remarkable opportunities and paving the way for a prosperous future.