UNCTAD Director Lakshmi Puri commends India's post MFA performance
11 Aug '05
2 min read
Singling out India's post textile quotas era performance, the United Nation Convention for Trade and Development (UNCTAD) called for opening up investment opportunities in the ASEAN so that its industries can compete in global markets.
Stating this UNCTAD Director Lakshmi Puri added that the contention that India would do well was contrary to all expectations. Now, it was imperative that Indian textile manufacturers assume ASEAN as target market for investment and exports, she added.
She cited India's losing out its share of Hungarian market to China post quotas era and asked the country's manufacturers to think in terms of establishing importing entities in foreign countries and establish links with retailers there created by China. Congratulating textile manufacturers and traders on the successful completion of the Doha round of trade talks that was expected to result in reduction of non-trade barriers, the UNCTAD official from Geneva appealed them to document trade distortion to support the Indian government take up the matter with the European Union (EU).
She wanted the government to clarify to the EU as how it was viewing "good supremacy and sustainable output" state, and the disparity according to generalized system of preferences (GSP) under, which Sri Lanka enjoyed zero Customs duty.
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