Union Commerce Minister Piyush Goyal on Thursday said India is likely to receive textile-related trade concessions from the United States on lines similar to those granted to Bangladesh under its existing trade arrangement with Washington.
According to Goyal, once the proposed trade agreement between New Delhi and the US is finalised, Indian garment exporters could also gain zero-duty access to the American market for apparel manufactured using cotton imported from the US. He added that the deal will include a provision offering duty benefits if cotton yarn is sourced from the United States.
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Although the joint statement and the White House factsheet on the India-US trade agreement do not specifically mention such a clause, the minister asserted that the understanding is part of ongoing negotiations.
Goyal also dismissed allegations that Bangladesh has secured more favourable terms than India. Hitting back at claims made by Rahul Gandhi in Parliament, the minister said Washington would extend the same benefits to New Delhi.
“He (Rahul Gandhi) spread another lie in Parliament that Bangladesh has received more trade benefits than India,” Goyal said, reiterating that India’s textile sector stands to gain significantly once the agreement is concluded.
(This story is published from a syndicated feed)
