Latest news with #ASakthivel
Time of India
19-05-2025
- Business
- Time of India
India's port restrictions on Bangladesh imports to help MSMEs: Experts
NEW DELHI: Restrictions imposed by India on certain Bangladeshi goods will help the domestic ready-made garment industry, particularly MSMEs, to enhance their competitiveness, according to experts. On May 17, India restricted imports worth $770 million from Bangladesh, covering nearly 42 per cent of bilateral imports. Key goods like garments, processed foods, and plastic items are now limited to select sea ports or barred from land routes entirely. Ready-made garments, valued at $618 million, now face strict routing through only two Indian seaports. This severely limits Bangladesh's most valuable export channel to India. "Indian textile firms have long protested the competitive edge enjoyed by Bangladeshi exporters, who benefit from duty-free Chinese fabric imports and export subsidies, giving them a 10-15 per cent price advantage in the Indian market," think tank Global Trade Research Initiative ( GTRI ) said. The port restrictions will help Indian MSMEs (micro, small, and medium enterprises) from the textiles sector, GTRI founder Ajay Srivastava said. Sharing similar views, Apparel Export Promotion Council ( AEPC ) Vice Chairman A Sakthivel said it was a demand of domestic exporters to impose these restrictions. Live Events "It is a good decision now taken by the Indian government. The domestic industry will benefit from this," Sakthivel said. The move comes in response to Bangladesh's recent restrictions on Indian yarn, rice, and other goods, as well as the imposition of a transit fee on Indian cargo's departure from past cooperation. Even as Dhaka moves closer to Beijing, India should not shut the door to dialogue, Srivastava said. "As the bigger neighbour and regional power, India has a greater responsibility to lead with patience, keep communication open, and avoid using trade as a weapon. Rebuilding trust through diplomacy and economic cooperation is still possible," he said.
Time of India
18-05-2025
- Business
- Time of India
Bangladesh should not assume Northeast as a captive market for its exports: Experts
NEW DELHI: India's recent import restrictions on Bangladeshi goods have sparked a broader conversation about the future of bilateral trade, with officials and experts stressing that Bangladesh should not assume India's Northeast as a captive market for its exports. Tired of too many ads? go ad free now On May 17, the government imposed curbs on imports worth $770 million from Bangladesh, impacting nearly 42% of the total import volume. The restrictions, affecting garments, processed foods, and plastics, barred many goods from land ports and limited them to just two seaports: Kolkata and Nhava Sheva. For Bangladesh, this is a major blow. Apparel exports alone, valued at $618 million, now face longer routes, higher shipping costs, and delayed delivery times. Petrapole land port accounted for over 75% of apparel imports in 2024–25, according to official data, PTI reported. 'This move will help Indian MSMEs in the textile sector regain competitiveness,' said Ajay Srivastava, founder of Global Trade Research Initiative (GTRI). He pointed out that Bangladeshi firms enjoyed unfair pricing advantages thanks to duty-free Chinese fabrics and export subsidies, giving them a 10–15% edge. Apparel Export Promotion Council (AEPC) Vice Chairman A Sakthivel agreed: 'It was a long-standing demand from domestic exporters. This is the right step.' India's measures come amid growing unease over Bangladesh's own trade practices. Dhaka recently restricted Indian imports like yarn and rice and introduced a transit fee on Indian cargo, which New Delhi sees as a violation of earlier understandings. 'India will pursue reciprocal trade, not one-sided terms,' a senior source said. Tired of too many ads? go ad free now 'Bangladesh must realise it cannot cherry-pick trade benefits without giving back.' Still, experts caution against a breakdown in ties. 'As the larger neighbour, India must lead with maturity,' Srivastava said. 'Trade shouldn't be weaponised. There's still room to rebuild trust through dialogue and economic cooperation.' AEPC Secretary General Mithileshwar Thakur noted the shift to sea ports could strain small Bangladeshi exporters. 'Sea shipping is costlier and slower. This could hurt their ability to meet demand from Indian retailers.'
&w=3840&q=100)
Business Standard
18-05-2025
- Business
- Business Standard
'India's port restrictions on Bangladesh imports to help domestic MSMEs'
Restrictions imposed by India on certain Bangladeshi goods will help the domestic ready-made garment industry, particularly MSMEs, to enhance their competitiveness, according to experts. On May 17, India restricted imports worth USD 770 million from Bangladesh, covering nearly 42 per cent of bilateral imports. Key goods like garments, processed foods, and plastic items are now limited to select sea ports or barred from land routes entirely. Ready-made garments, valued at USD 618 million, now face strict routing through only two Indian seaports. This severely limits Bangladesh's most valuable export channel to India. "Indian textile firms have long protested the competitive edge enjoyed by Bangladeshi exporters, who benefit from duty-free Chinese fabric imports and export subsidies, giving them a 10-15 per cent price advantage in the Indian market," think tank Global Trade Research Initiative (GTRI) said. The port restrictions will help Indian MSMEs (micro, small, and medium enterprises) from the textiles sector, GTRI founder Ajay Srivastava said. Sharing similar views, Apparel Export Promotion Council (AEPC) Vice Chairman A Sakthivel said it was a demand of domestic exporters to impose these restrictions. "It is a good decision now taken by the Indian government. The domestic industry will benefit from this," Sakthivel said. The move comes in response to Bangladesh's recent restrictions on Indian yarn, rice, and other goods, as well as the imposition of a transit fee on Indian cargo's departure from past cooperation. Even as Dhaka moves closer to Beijing, India should not shut the door to dialogue, Srivastava said. "As the bigger neighbour and regional power, India has a greater responsibility to lead with patience, keep communication open, and avoid using trade as a weapon. Rebuilding trust through diplomacy and economic cooperation is still possible," he said.
The Print
07-05-2025
- Business
- The Print
India gets duty-free access in key sectors like textiles, leather, processed food in UK trade pact
India will gain from tariff elimination on about 99 per cent of the tariff lines covering almost 100 per cent of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK, the commerce ministry said. India and the UK clinched a 'landmark' trade deal that will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030. New Delhi, May 6 (PTI) Indian exports such as textiles, leather, footwear, and processed foods will attract nil duty in the UK under the free trade agreement between the two countries, offering a major boost to labour-intensive sectors. Indian goods that will enter the UK at zero duty include minerals, chemicals, gems and jewellery, plastic, rubber, wood, paper, textile, clothing, glass, ceramic, base metals, mechanical and electrical machinery, arms/ammunition, transport/auto, furniture, sports goods, animal products, and processed food. These goods at present attract import duty in the range of 2-18 per cent. Further, host of goods in three segments – animal products, vegetable/oil products, and processed food – will enter the British market at nil duty. Presently there is up to 20 per cent duty on these segments in Britain. Commenting on the development, Federation of Indian Export Organisations (FIEO) President S C Ralhan said that it is a landmark step that will significantly boost bilateral trade, attract strategic investments, and further integrate Indian businesses into the global value chain. 'This agreement comes at a pivotal time when India is positioning itself as a resilient and reliable trade partner in a rapidly evolving global landscape,' he said. He added that the India–UK FTA eliminates or significantly reduces tariffs on a wide range of Indian goods, giving domestic exporters preferential access to one of the world's most affluent and consumption-driven markets. 'The free trade agreement marks a transformative milestone for India's textile industry. By unlocking new export opportunities, reducing trade barriers, and enabling greater access to the premium UK market, this agreement promises to empower Indian weavers, manufacturers, and exporters across the value chain, said A Sakthivel, Vice Chairman of the Apparel Export Promotion Council (AEPC). According to Sudhir Sekhri, Chairman, AEPC, the FTA with UK is 'a bonanza' for Indian apparel exporters, which opens the floodgates of apparel exports to UK'. PTI RR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
07-05-2025
- Business
- Time of India
UK FTA to boost Indian apparel, leather exports vs Bangladesh, Vietnam: Exporters
Live Events The removal of import duties on a range of Indian goods in labour-intensive sectors such as apparel, clothing, and leather under the free trade agreement with the UK will boost the competitiveness of domestic players in the British market against countries like Bangladesh and Vietnam , exporters say. They also said that the Free Trade Agreement (FTA) has eliminated or significantly reduced tariffs on a wide range of Indian goods, which would give domestic exporters preferential access to one of the world's most affluent and consumption-driven markets."Removal of tariffs will enhance India's competitiveness against countries like Bangladesh and Vietnam," Federation of Indian Export Organisations (FIEO) President SC Ralhan added that streamlined regulatory processes will accelerate generic drug approvals in the similar views, A Sakthivel, Vice Chairman of the Apparel Export Promotion Council (AEPC) said that by unlocking new export opportunities, reducing trade barriers, and enabling greater access to the premium UK market, this agreement promises to empower Indian weavers, manufacturers, and exporters across the value chain "The India-UK FTA is expected to pave the way for long-term growth, attract investment, and create a more favourable business environment for textile stakeholders in both countries," Sakthivel such as woven and knitted apparel, made-ups, footwear, carpets, and marine products will become more competitive in the UK like woven and knitted apparel, made-ups, footwear, carpets, and marine goods, will now enter the UK market with tariff advantages ranging from 5-9 per instance, woven apparel, which currently sees exports of USD 753 million from India to the UK, is projected to grow to USD 1.6 billion by knitted apparel exports could rise from USD 654 million to USD 1.13 billion, while made-ups are expected to jump from USD 276 million to USD 477 sectors are also poised for growth due to duty exports are projected to increase from USD 279 million to USD 545 million, carpets from USD 102 million to USD 185 million, and marine products from USD 107 million to USD 185 in more industrial categories, auto components and vehicles could double from USD 286 million to USD 572 million, thanks to an 8 per cent tariff aluminium and its products may grow from USD 102 million to USD 200 million by 2027, and organic chemicals from USD 420 million to USD 966 Hari Singhania, Chairman, Raymond Group said such agreements are vital for integrating India more deeply into resilient global value chains, strengthening the country's position as a trusted manufacturing and export partner on the world and the UK clinched a 'landmark' trade deal that will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by world's fifth and sixth-largest economies concluded the deal after three years of on-off negotiations.
