The Indian textile industry is up in arms against the government move to allow duty-free access to garment exports from Bangladesh. The concession to Bangladesh, which is a major Indian competitor, could also lead to tax-free entry of Chinese goods into the country, the industry has warned.
India is expected to sign an agreement on duty-free access of apparel products during Prime Minister Manmohan Singh’s visit to Bangladesh on Tuesday. Under the agreement, 48 apparel products from Bangladesh, including knitwear garments would be allowed duty-free access to Indian markets.
(Source: The Financial Express)