Piyush Goyal, Commerce and industry minister, Free Trade Agreements cannot be signed in haste. India is now gearing up to sign trade pacts with some countries in the coming months.
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Piyush Goyal, Commerce and industry minister, Free Trade Agreements cannot be signed in haste. India is now gearing up to sign trade pacts with some countries in the coming months.
The first four months of the current year have been profitable for Vietnam as there was an increase in the export of textile and garments. As per the Ministry of Industry and Trade, it has earned over $9.5 billion in Q1.
The increased number of Free Trade Agreements has increased export orders and hence created a recruitment demand in Vietnam. There has also been a demand for IT personnel from the country, thanks to outsourcing.
Thanks to new Free Trade Agreements and government-assisted trade promotions and market search, Vietnam’s textile exports turnover for Q1 of 2021 has seen a modest growth after last year’s dip because of the pandemic.
Free trade agreements (FTAs) with Australia, Canada, the United Kingdom and the European Union (EU) will help boost India’s textile exports, according to the Apparel Export Promotion Council (AEPC), whose chairman A Sakthivel recently said the government should pursue FTAs with these countries as they hold tremendous potential for India’s exports.
In a bid to transform Gujarat from a fabric manufacturing hub to apparel manufacturing hub, textile players are organising a three-day expo ‘Farm to Fashion’ from May 4 in Ahmedabad.