Apparel exporters body AEPC has urged the Indian government to quicken the pace of proposed free-trade agreement (FTA) between India and Australia as it can significantly boost shipment to that country. AEPC says, the agreement will help India increase its exports by $500 million in the next three years. It would also help domestic apparel exports positively.
Australia is the 18th largest importer of apparel with $6.6 billion imports in 2019. Currently, China is the major supplier to Australia with 64 per cent share while India's share is 1.2 per cent with exports worth $206 million. According to AEPC, Indian apparel can make faster in-roads in the Australian market by abolishing the duty disadvantage of 9.6 per cent in the EU market as compared to competitors like Bangladesh, Cambodia, Sri Lanka and Pakistan.