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Commerce Minister Piyush Goyal explains the massive gains India will potentially make from the EU-India FTA. $7 billion in textiles exports to EU may rise up to $30-40 Billion.. now that we have a level playing field with LDC Bangladesh.

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Shubhangi Sharma

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47,145 görüntüleme • 8 ay önce •via X (Twitter)

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India, EU FTA will come into operation in next "6-7" months, & we hope to ink it soon, says Indian Trade Minister Piyush Goyal
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"Countries like Japan and South Korea have a nationalist spirit. We have an FTA with them but their companies buy only from domestic suppliers. I keep pleading for the same thing in India but I get no traction," complains Commerce Minister Piyush Goyal
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> Bangladeshi media reports that their garment exporters are scared shitless after the India-EU FTA 🇧🇩🇪🇺🇮🇳 > They state that once India has scaled up its supply chain, their entire sector will collapse as they cannot compete against India since Indian goods will be 24% more competitive > At present, Bangladesh is more competitive because of GSP, LDC + other factors > Indian garment exports have been growing in Europe despite 12% tariffs while Bangladesh had 0%. > Once EU-FTA comes into effect, Indian garments will become cheaper > Garments account for 90%+ of Bangladesh's exports (with 60% going to Europe)
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> Bangladeshi media reports that their garment exporters are scared shitless after the India-EU FTA 🇧🇩🇪🇺🇮🇳 > They state that once India has scaled up its supply chain, their entire sector will collapse as they cannot compete against India since Indian goods will be 24% more competitive > At present, Bangladesh is more competitive because of GSP, LDC + other factors > Indian garment exports have been growing in Europe despite 12% tariffs while Bangladesh had 0%. > Once EU-FTA comes into effect, Indian garments will become cheaper > Garments account for 90%+ of Bangladesh's exports (with 60% going to Europe)

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#WATCH | Drawing a comparison between FTAs signed under the UPA government and the recently signed India-EU FTA, Union Minister Piyush Goyal says in an interview with ANI, "The Congress government had signed an FTA with Japan and Korea. That FTA was so bad that our exports to those countries haven't increased at all. The products on which they gave us duty concessions are not even reaching those markets, while their imports into India have doubled... Here, 99% of everything exported from India will have zero duty. We have negotiated balanced FTAs. We have even signed FTAs ​​with developed countries on our own terms... But unlike the Congress government, we don't sign FTAs ​​with countries that compete with us or those with lower labour costs that would harm our manufacturers..."
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🚨 BIG BREAKING Bangladesh & Pakistan are RATTLED as the India–EU FTA threatens their biggest export lifeline: Europe. Bangladesh is set to lose duty-free access after LDC graduation, while Pakistan fears its price edge will vanish once India enters EU markets tariff-free 🔥
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