INDIA: Textile Tariffs Commitment To The EU Fulfilled
The Indian government has revised its Customs Duty tariff for 195 textile items. The new rates will be committed to the World Trade Organisation as 'bound' rates under the terms of a recent pledge to the European Union. Building on an earlier agreement to partially release the exceptional facility entitlement available to India, the EU is now expected to give the go-ahead for its full release. Exceptional Facility means that an exporter has the freedom to transfer quotas from one product to another. Items covered in the revised duty structure include various fabrics, such as wall hangings, curtains, and upholstery. Once exporters can gain this full facility status, it is likely that they will be able to increase their exports. The Agreement on Textiles and Clothing (ATC) lays down very detailed, itemised quotas. The 'exceptional flexibility' policy merely permits movement of the various products within the mix, keeping aggregate quantities intact. www.just-style.com has already reported similar decisions in Bangladesh, and also the EU's partial release to India. See:
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