Agreement with Iran boosts Indian textile export - sportstextiles: Lea SportsTextiles

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Agreement with Iran boosts Indian textile exporters

25/07/2016
Iran has agreed to reduce import duties on Indian textile products by 20-25% within two years. This would allow India to become the largest textile exporter to Iran.

The agreement was signed between India’s Apparel Export Promotion Council (AEPC) and the Teheran Garment Union (TGU) at the recent India International Garment Fair (IIGF) in Delhi.

According to UN Comtrade data, India exported ready-made garments worth $21 million to Iran in 2015. This represented just 2.5% of the total ready-made garments imported by Iran in the period.

AEPC and TGU also agreed to make efforts to promote bilateral trade and industrial cooperation in the textile and fashion sectors. This will involve sharing experience and knowledge and cooperating on the exchange of relevant information.

The IIGF, which took place from 18 to 20 July, saw more than 400 Indian exporters exhibit their products to more than 1,500 international buyers.

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