India Urged to Ramp Up Trade Pacts for Textile Export Boost

Vice President C P Radhakrishnan highlights the necessity of more free trade agreements for India to enhance its competitiveness in global textile exports. Addressing the Apparel Exports Promotion Council, he emphasized exploring new markets and eco-friendly practices. Despite current challenges, India's textile export growth remains optimistic for the coming years.

In a bid to bolster India's position in the global textile market, Vice President C P Radhakrishnan has called for more free trade agreements (FTAs). Speaking at the Apparel Exports Promotion Council awards, he highlighted the increasing competition from countries like Bangladesh, Laos, and Vietnam.

The vice president stressed the urgency of adopting FTAs as crucial tools for competitive advantage. He outlined India's ambitious target to reach a textile market size of USD 350 billion by 2030, urging the industry to explore new markets and embrace sustainable manufacturing practices.

Despite challenges due to geopolitical constraints, Radhakrishnan expressed confidence that India's textile exports will double within three years. Indian textiles and apparel exports had already achieved a commendable growth in the previous financial year, underscoring the sector's resilience.

(With inputs from agencies.)