The AEPC stated Wednesday that the implementation of the Free Trade Agreement between India and Australia would help to boost exports.
On Wednesday, the Australian Parliament approved the agreement and it is now ready for rollout.
Naren Goenka (Apparel Export Promotion Council) chairman stated that duty-free access to Australia for the sector under the trade pact would bring in domestic exporters and put them on the same level as global competitors. This will make it more competitive.
He said that this would also give Australian businesses a chance to adopt China plus one policies.
An AEPC delegation recently attended the International Sourcing Expo, Australia. Goenka indicated that Australian companies eagerly awaited to build stronger relations and source fabric and textiles products in India. The deal with AEPC will help them. He said that AEPC would facilitate the Indian businesses to get in touch with the right partners via its export promotion programs.
Australia is a long-standing trading partner of the Indian garment industry. Exports account for around 4% of all Australian garment imports. He stated that Australia will have zero duty on its southern hemisphere deal. This will ensure Indian factories can be fully utilized in their lean periods, and there will also be orders for the spring and summer products Indian players love.
(This story is not edited or authored by Devdiscourse staff.