‘Synthetic active wear is a potential area of opportunities for textile units in Tamil Nadu'
The CII has been interacting with the Taiwan Textile Federation and organised a two-day business meeting and summit in Coimbatore and Tiruppur on July 21 and 22, with special focus on processing of functional synthetic fabrics.
'We hope an (industry-wide) alliance will be formed in 2026 between the Taiwan textile sector and the textile industry in Tamil Nadu,' he told the media in Coimbatore on Monday.
The focus right now is on increasing garment production in Tamil Nadu by importing some of the high end fabrics from Taiwan, which is a global leader in synthetic active wear.
'We find India to be a safer place and our clients are advising us to source more from India,' said Justin Huang, president of the Taiwan Textile Federation.
Leading markets are focusing on sustainability and it is the right time to work jointly to produce garments made of sustainable synthetic fabrics, especially for active wear. 'We will start with trade collaboration and then think of investments,' he said.
Sunil Jhunjhunwala, co-founder of Technosport, said India will soon have either preferential access to the U.S. or at least a level playing field with other countries. This will give a thrust to export of synthetic active wear from India.
A. Sakthivel, Honorary Chairman of Tiruppur Exporters' Association, said at the meeting held in Tiruppur on Tuesday that Free Trade Agreements (FTAs) with the UK and the EU are currently in progress, while a Bilateral Trade Agreement (BTA) with the U.S. is expected. These will significantly boost textile exports.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
41 minutes ago
- Hindustan Times
UK FTA is a turning point in how India engages with West
The signing of the free trade agreement (FTA) between India and the UK last week was no ordinary moment — not just because 99% of Indian exports to the UK will now enter tariff-free, or because British luxury cars and Scotch whisky are about to get cheaper. The real story is India's evolving place in global trade — more assertive, more selective and no longer willing to play by someone else's rulebook. The immediate economic benefits are eye-catching. For British exporters, tariff cuts on whisky (down from 150% to 75% right away, and to 40% in a decade), high-end vehicles, cosmetics and dairy offer new access to India's swelling consumer base. For Indian exporters — particularly in textiles, jewellery, EVs, marine products and generics — the UK market is now wide open, with tariff advantages over rivals like China and Vietnam. The UK's access to Indian public procurement markets and its offer to exempt Indian professionals from social security payments sweeten the deal further. Also, Indian yoga teachers, chefs and tech workers will find short-term visas easier to secure— a meaningful breakthrough on the politically sensitive issue of mobility and immigration India's MSMEs are expected to be among the biggest winners. Industry analysts estimate a 30-40% rise in Indian exports to Britain in the next five years. That's not just numbers on paper — that's jobs on the ground, especially in states like Gujarat, Tamil Nadu and Maharashtra. But perhaps the most significant thing about this deal is what isn't in it — agriculture. India drew a red line, clearly flagging at the outset that it's non-negotiable, which the UK respected. Our government is fully aware of our responsibility to protect the rights of our farmers. Opening up Indian farming to global agribusiness is politically radioactive. The UK agreement avoids that minefield. This signals something larger: India is happy to do trade, but only on terms that don't destabilise our broader economic progress. This new pragmatism — open on industry, cautious on food — could now become the blueprint for other negotiations, particularly with the ongoing one with the US. Hours after the India-UK deal was inked, eyes turned to the US. Trade talks with the US have been ongoing for some months. On Thursday, India's ministry of external affairs confirmed that both sides are working on the 'first tranche' of a multi-sector Bilateral Trade Agreement (BTA). Behind the scenes, pressure is mounting. After reimposing 10% reciprocal tariffs on global exports in April 2025, the US specifically slapped a 26% tariff on Indian goods, though a pause was granted till August 1. That ticking clock now adds urgency to the ongoing BTA talks. Here's the sticking point: The US wants access to India's agriculture and digital markets. India, meanwhile, wants tariff rollbacks, supply chain integration and protection for its strategic sectors. The Union government is clear: India will negotiate hard and the US should not mistake flexibility for submission. The UK deal becomes a silent message to the US: We're open to trade but we won't be bullied. The UK FTA also shifts the geopolitical axis slightly. Post-Brexit, Britain badly needed a big trade deal. India, flush with economic confidence and global attention, was in no rush. That power asymmetry is visible in the final text of the agreement— cautious, layered, incremental. This is not a one-shot silver bullet. It's a living document, built to expand, revise tariffs and add new sectors over time if required. For India, the pact also sends signals elsewhere, to the EU, Japan and Asean. In July alone, the US concluded trade deals with Vietnam, Japan and Indonesia — all part of its Indo-Pacific economic strategy. India, however, is forging its own path. It's building a trade perimeter that keeps sovereignty intact while enabling access and investment. There is, of course, no escaping the historical undertones. Two centuries ago, Britain came to India in the name of trade and stayed to conquer and rule. Today, Britain is back, but on an even keel. That reversal is more than symbolic. Indian policymakers, once wary of the term free trade because of its colonial baggage, are now redefining it. The FTA is not about deference, it's about mutual interest. India is opening doors, but it's also setting terms. This is more than a trade agreement. It is a shift in posture. It is a turning point in how India engages with the West. Gone is the tentative, aid-seeking India of old. This is a country that brings its own terms to the table, and expects others to adapt. The British see this deal as a lifeline in a post-EU economy. India sees it as leverage, a card it can play while negotiating with bigger economies like the US and EU. Undoubtedly, this trade deal is historic. Not just for what it delivers, but for what it represents — the arrival of a more assertive, strategic, and self-confident India on the global trade stage. As for the Americans, they would be wise to study the UK deal not as a template to copy, but perhaps as a warning. Push too hard, especially on food and data, and India will simply say no. Syed Zafar Islam is a national spokesperson of the BJP and former member of Parliament. The views expressed are personal
The Hindu
an hour ago
- The Hindu
Coimbatore is an ideal destination for mid-sized GCCs, says CII
The large number of technical education institutions in Coimbatore and Information Technology (IT) space under construction at multiple locations make Coimbatore an ideal location to house mid-sized Global Capability Centres (GCCs), said Prashanth Subramanian, former chairman of Confederation of Indian Industry (CII), Coimbatore zone. The CII has launched an initiative to increase the visibility of Coimbatore to attract GCC investments. There are 30-35 GCCs in the district, each having 100 to 300 seaters. The domain expertise available in Coimbatore in different aspects of manufacturing, the strong presence of academia, and an existing IT eco-system all make Coimbatore an ideal location, he said. Cost and talent availability are the primary drivers of any GCC set up. Coimbatore can offer both. The local industries can grow in this space and a couple of companies have already taken the lead. 'We need more such companies,' Mr. Prashanth added. The CII plans to prioritise on local industries by creating the required visibility for them and handholding the interested companies. It also plans to tap into the alumni network of Coimbatore educational institutions. Most of them who have studied in Coimbatore have moved out. They should get the confidence that Coimbatore can be a GCC hub. The executives of Coimbatore companies who travel to other cities or countries should also talk about the capabilities of Coimbatore. When GCCs set shop here, the talent will get trained in multiple areas of work and an ecosystem will develop here to cater to global standards, he said. Expansion of Coimbatore airport remains a non-starter and is one of the main challenges that needs to be addressed. Another area that needs focus is strengthening the industry-academia collaboration, Mr. Prashanth added.
The Print
8 hours ago
- The Print
RBI monetary panel member sees no challenges in Indian economy growing over 6.5 pc in FY26
'Actually, more than a third of global economies are under the debt crisis…The industrialised economies are facing a lot of pressure and high inflation and the slowdown of economic growth,' he said. Kumar, in an interview with PTI Videos, further said that Indian economy, among all economies, continues to remain a bright spot for the world. New Delhi, Jul 27 (PTI) Indian economy is growing at a robust pace and will not face any challenge in achieving a growth rate upwards of 6.5 per cent in the current financial year, RBI Monetary Policy Committee (MPC) member Nagesh Kumar said on Sunday. But because Indian economy is more driven by domestic consumption and domestic investment, less by export or trade, Kumar said India continues to grow very robustly. 'I do not see any challenges in Indian economy achieving upwards of 6.5 per cent kind of growth in the current year and the following year. 'And, you know, hopefully this kind of growth momentum will continue for coming years, but also be over time strengthened to 7 -7.5 per cent,' he said. The Indian economy is estimated to have grown at 6.5 per cent in the previous fiscal year. As per the Reserve Bank of India's projections, the country's economy will expand at the same rate in the current fiscal year as well. Responding to a question on inflation, Kumar said current rate of CPI inflation is around 2 per cent and this is largely a result of the policy adopted by the MPC (monetary policy committee) or RBI, and now it has come down to within the target range. Asked if there is a room for the RBI for further rate cuts, he said, 'It will depend on all different macro numbers, not just inflation numbers. If inflation comes down to 2 per cent in one month then it does not mean that it will stay there.' The RBI has cut the key rates by 1 percentage point this year, and official data pointing to headline inflation cooling to 2.1 per cent in June against the 4 per cent target has led to expectations of further easing. The six-member monetary panel of the RBI is expected to announce its next bimonthly policy in August. 'So, MPC will have to look at trend projections, not only inflation data, but all other macro-parameters and reach at a conclusion on the basis of what the trends and patterns look like,' Kumar observed. The RBI has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side. Responding to a question on India's proposed Bilateral Trade Agreement (BTA) with the US, Kumar said, 'If we can get through this agreement then we will get access to America's vast market in labour-intensive sector where India has a competitive advantage because of our abundant labour resources.' Kumar pointed out that India has some concerns about opening up it's agriculture sector, the dairy sector and few others. Noting that trade negotiations are based on give and take, he said, 'Supposing certain things, we agree to open up but there could be a quota placed, which will limit the tariff advantage given to the partner only for a limited quantity.' So, Kumar said, there are various ways to manage a trade negotiation and he is sure that Indian negotiators are trying to protect the country's interest to the best possible manner, while also getting access to some of the labour-intensive goods markets. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America. In addition, Indonesia has committed to purchasing USD 15 billion in US energy, USD 4.5 billion in American Agricultural Products, and 50 Boeing jets. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. India is seeking the removal of the additional tariff of 26 per cent announced by the US in April. The implementation of the additional tariff has been suspended until August 1. India is also seeking easing of tariffs on steel and aluminium (50 per cent) and the auto (25 per cent) sectors. Against these, India has reserved its right under the WTO (World Trade Organisation) norms to impose retaliatory duties. Responding to a question on surge in net outward foreign direct investment (FDI), Kumar said as far as gross FDI numbers are concerned, they have shown a good increase from USD 71 billion to USD 81 billion in 2024-25. 'Net FDI inflows look smaller because there have been lot of repatriation… I am not too concerned about outflows of repatriation, as long as the gross inflows keep growing, which they are at this moment,' he said. Kumar asserted that the continued good and robust performance of Indian economy will continue to attract global companies to India, and the FDI outlook for the country will remain very positive and will attract more and more FDI inflows in the coming year. According to latest UNCTAD's World Investment Report, global FDI flows declined by 11 per cent to USD 1.5 trillion in 2024, marking the second straight year of decline. PTI BKS HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
