Apparel Export Promotion Council (AEPC) has signed an MoU with the Tehran Garment Union (TGU), an influential manufacturers and retailers association with legislative power in terms of garment commercial affairs in Iran.
The MoU signed during the recently-concluded 57th India International Garment Fair (IIGF) in New Delhi by Ashok G Rajani, Chairman, AEPC, and Mohamad Javad Sedghamiz, VP, TGU, will fuel efforts to promote bilateral trade and industrial cooperation in the textile and fashion sectors among Indian and Iranian partners.
The MoU is effective till July 18, 2017 and India is hopeful of boosting RMG export to the growing Iranian market. Iran has already agreed to reduce the tariffs on Indian products by 20-25 per cent, and with this MOU, India is expected to become the largest exporter of textiles to Iran.