TEA appeals to PM to forge FTA with Britain

On the heels of Britain voting to exit the European Union, the Tirupur Exporters Association (TEA) has appealed to Prime Minister Narendra Modi to negotiate a Free Trade Agreement with that country because the time is very opportune.

“It is an appropriate time for India to commence negotiations with UK for Free Trade Agreement and we are confident that India being a favored nation to UK, India could clinch the deal and have a FTA with UK in the coming months,” TEA President Dr A Sakthivel said in his letter to the PM.

“We wish to add that India has been facing a lot of issues like TRIPS, Pharmaceutical, Automobile, Visa including movement of professionals which are actually stunting the negotiations to have FTA with EU, which consists of 28 countries including UK and we feel that when we start negotiations with UK immediately for FTA, we could get the early bird advantage and could increase our trade significantly.”

Sakthivel pointed out that in the case of garment sector alone, India’s export share to UK is 10.62 per cent, with a value of Rs.11,798 crore out of total garment exports of Rs 1,11,178 crore from India. It is also to be noted that the UK occupies the top position among EU countries in India’s garment exports.

“We request the Hon’ble Prime Minister to advise the Commerce Ministry to take necessary steps to commence negotiation with UK to have a Free Trade Agreement which is paramount importance to boost our exports, including garment exports,” Dr Sakthivel wrote in his letter.