India actively considering CEPAs, FTAs to boost textile exports: Piyush Goyal

NEW DELHI: Union Minister Piyush Goyal has said India is actively considering entering into free trade pacts and comprehensive economic partnership agreements totapnewmarkets,increaseexports and create opportunities for the domestic textile industry. The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significantmanner.

Goyal said PM MITRA Parks will lead to a reduction of logistic costs due to a cluster-based approach to manufacturing and production of quality products with appropriate testingfacilities.

The Minister emphasised that countrymen deserve the best quality of garments and this should be ensuredbyallthestakeholders.

He encouraged the industry to focus on quality and test their products to comply with quality standards.

Goyal said India is pioneering sustainable textiles, contributing to a lessercarbonfootprintandpromoting acirculareconomy.

The Indian textile industry has made a mark in the world with its innovative and attractive products, he said while addressing an event in GreaterNoida,UttarPradesh.

Piyush Goyal said that India is actively considering the possibility of Comprehensive Economic Partnership Agreements (CEPAs) and Free Trade Agreements (FTAs) with various countries. These agreements aim to enhance the marketsizeandfacilitateexportersin thethrivingIndiantextilesector.

"...by entering into these agreements, India aims to tap into new markets, increase exports, and create opportunities for growth in the textile industry," a Textiles Ministry statement quoted the minister as saying.

India and Russia aim to establish Chennai-Vladivostok maritime route : Sarbananda Sonowal

NEW DELHI: India and Russia are keen to make the Chennai –Vladivostok maritime route operational, and a stakeholder meetingtoworkoutdetailshavebeen scheduled in September, Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal said.

The Vladivostok – Chennai route passes through the Sea of Japan, the SouthChinaSeaandMalaccaStrait.

Theroute,Sonowalsays,willbring down transport time to 12 days, almost a third of what is taken under theexistingpopularroutethatcovers fromStPetersburgtoMumbai.

At the same time, costs are expectedtocomedownsignificantly–“by30percent-odd”–sourcessaid.

The current maritime route, StPetersburgtoMumbai,issaidtobe an8,675nauticalmile(16,000km)one. Against this, the proposed Vladivostok – Chennai route is said to be 5647 nautical miles (10,500 km) long.

“Talksareontooperationalisethe

Vladivostok–Chennaimaritime route. This is a 10 – 12 day route and ships using this route will lead to savings in time and cost. Russian officials came to India tocarryoutafeasibilityexercise in May. And we (Indian officials) have gone there some months back to check out the infrastructure and other facilities there. A stakeholder meeting is planned in September,” he said during an interview.

Those aware of the discussions say, one of the issues being looked at includes improvement and possible re-laying of approach roads to Vladivostok port; while there are some issues with the draft there, that needstobetakencareoftoo.

“Whether we will need further investments, and what are the issues that needs to be taken care of from both sides, will be taken up in the Septembermeeting,”Sonowaladded.

During the 2019 visit, PrimeMinisterShriNarendraModi signedaMemorandumofIntent(MoI) on the ‘Development of Maritime Communications between the Port of VladivostokandthePortofChennai’.

According to Sonowal, the new route would also give India access to the Far East, including countries like Mongolia,andthelargestpresencein theSouthEastAsianregion.

While export from Russia could includecoal,crudeoilandLNG,apart from commodities like apples and kiwis; shipments from India could include construction equipment, construction materials, pharma, amongothers.