Ref: MR/CIR/ 2023-23/0073 Date: 11 December 2023
To: Members of the Council
Dear Sir/ Madam,
Sub: Request for Inputs on India – Korea CEPA Upgradation
Department of Commerce, Ministry of Commerce and Industry is holding a stakeholder meeting on 19th December 2023 at 3.30 pm under the chairpersonship of Shri Anant Swarup, Joint Secretary to discuss about upgradation of the India-Korea CEPA.
India – Korea CEPA came into effect from 1st January 2010 and as per the Agreement, entire manmade fibre textile value chain from India gets Duty Free Market Access in the Korean market. However, it has been observed that exports of India’s MMF textiles to Korea are not increasing despite getting zero duty market access. During 2022-23 our exports to Korea Republic was US$ 43 Mn. witnessing a decline of around 20% as compared to the previous year.
Therefore, we invite valuable inputs from member-exporters about the reasons for not being able to increase exports of MMF textiles from India to Korea Republic despite enjoying duty free market access. Inputs may be sent through email to ed@srtepc.in with a CC to baruah@srtepc.in on or before 18 December 2023.
Looking forward to receive your valuable inputs on time to take up the same with the authorities during the forthcoming meeting.
Thanking You
A Ravi Kumar
Executive Director
