Comments
India has accepted Sri Lanka’s request for relaxation of fabric sourcing for readymade garments export to India.
Once the notification by the Government of India is issued, Sri Lanka will be able to export 8 million pieces of readymade garments to India at zero duty under India-Sri Lanka Free Trade Agreement (ISFTA).
Under the existing arrangement under ISFTA, India has granted two sets of apparel quotas at zero duty to Sri Lanka.
This comprises of 3 million pieces without fabric sourcing requirements from India and another 5 million pieces per year, which should be only made of Indian fabrics.
Sri Lanka was able to make use of the 3 million quota fully in the last few years, but was utilising only 10-15% of the quota for the 5 million pieces.
This issue was raised by the Sri Lankan government during the visit of Commerce, Industry and Textiles Minister, Anand Sharma to Sri Lanka in August, an Indian High Commission release said today
The decision to provide the facility was conveyed during the four-day visit of a high-level Indian delegation led by the Union Textile Secretary, Kiran Dhingra to Sri Lanka which ended yesterday, it said.
Necessary approval processes are underway for providing exemption to this condition, it added.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.