Officials from the Ministry of Commerce and Industry of India recently organized consultations on the proposal. Representatives of the textile industry, including the Federation of Indian Textile Industries (CITI), have clarified their positions. CITI has made some proposals for Rules of Origin and Product Specific Rules (PSR).
An FTA is expected to boost Indian exports to Canada. India’s share of total Canadian apparel imports from January to September 2022 was just 3.60%. Canada imported $9.192 billion worth of apparel during the same period, while imports from India were just $330.89 million, negligible. However, India is her one of Canada’s top five suppliers. China topped the list of suppliers, accounting for the majority of 31.16% ($2.864 billion). Fiber2Fashion’s market insight tool TexPro.
India and Canada are negotiating a Free Trade Agreement (FTA) to facilitate bilateral trade and the Indian textile industry has proposed various rules related to the agreement. The terms of the proposed FTA will determine whether it will help get more export orders. Currently, Indian apparel exports to Canada are negligible. #
Canada’s imports of home textiles were $1,918 million in the first nine months of the year. India is the third largest supplier of home textiles to Canada, with its share reaching 13.26% of hers, or $254.527 million. During the same period, China exported home textiles worth $747.89 million (38.98%) to Canada.
Fiber2Fashion News Desk (KUL)