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The Confederation of Indian Textile Industry (CITI) and the Taiwan Textile Federation (TTF) have signed a Memorandum of Understanding (MOU) aimed at enhancing cooperation and fostering exchanges in the textile and clothing industries according to CITI press release.
The agreement was formalized by Rakesh Mehra, Chairman of CITI, and James Kuo, Chairman of TTF, marking a pivotal moment in bilateral textile relations. Under the terms of the MOU, effective immediately, CITI and TTF have committed to several key initiatives to bolster their collaboration.
These include actively promoting business activities in trade, investment, and technology cooperation. Additionally, both organizations will focus on providing platforms for constructive dialogue among their members to stimulate collaboration.
The MOU also outlines plans for organizing seminars, exhibitions, conferences, and engagements with policymakers, delegations, and trade promotion agencies.
This collaborative effort aims to enhance technological assistance, training, and capacity-building initiatives within the textile and clothing sectors. A critical aspect of the agreement is the facilitation of information exchange on policies and industry activities.
Both CITI and TTF will work to disseminate information on trade and investment opportunities to foster greater economic synergy between India and Taiwan. Moreover, the MOU emphasizes advocating for initiatives that promote ease of doing business in both countries.
Rakesh Mehra, Chairman of CITI, expressed enthusiasm about the MOU, stating, "This partnership with TTF represents a significant step towards strengthening ties between our nations' textile industries. By fostering collaboration in trade, technology, and policy, we aim to drive sustainable growth and innovation across the sector.
"This MOU underscores a mutual commitment to nurturing long-term, mutually beneficial partnerships and advancing the competitiveness of the Indian and Taiwanese textile sectors on the global stage. The collaboration between CITI and TTF is expected to open new avenues for growth and development, benefiting the textile industries in both countries.
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