Maharashtra’s Bhiwandi Textile Manufacturing Association (BTMA) and the Federation of Gujarat Weavers Association (SGWA) will jointly oppose the Regional Comprehensive Economic Partnership (RCEP) agreement to be signed by India in November. Both feel China will dump its textile goods in the Indian market at zero per cent duty and its cheap goods will spell trouble.
Members of both the associations will make representations to the Indian government about the disadvantages of signing the mega regional trade agreement with 16 East Asian countries.
A three-member BTMA delegation last week attended a meeting organised at the Southern Gujarat Chamber of Commerce and Industry office in Surat in the presence of FGWA members. Over 25 members from the textile industry discussed the government’s decision to sign the RCEP deal, according to a report in a top Indian newspaper.
FGWA member MayurGolwala urged the government to consult industry stakeholders and take a decision.