Thanking Union Minister Nirmala Seetharaman for swift finalisation of first draft of the Joint Study Group (JSG) report on the feasibility of India-EAEU Free Trade Agreement (FTA), the Indian Texpreneurs Federation (ITF) has appealed to her to give top priority to textile sector in the on-going study.
In a letter to the Minister, ITF Secretary, Prabhu Dhamodaran said that there were tremendous opportunities awaiting the Indian textile products in this region.
Stating that Indian textile industry needed market diversification to untapped markets to overcome the challenges raised by the Trans Pacific Partnership, he said ITF had already submitted the basic information regarding the scope for export of Indian textile products to Russia, the main country in EAEU.
In the financial year 2014, Russia had imported textile and apparel items worth 13.5 billion US Dollars, of which apparel items accounted for USD 7.5 billion USD and India's share was just 248 Million USD of this huge Russian market, he noted.
Prabhu said that ITF was willing to submit data and also take active part in this JSG process.
