India Signed An Agreement With Russia To Promote Textile And Garment Industry In The Two Countries
India and Russia recently signed an agreement aimed at promoting investment and trade in the textile industry of the two countries.
The agreement aims to enhance textile production in India and Russia, promote textile trade between the two countries, participate in exhibitions and exhibitions, and share technology and knowledge with each other in textile manufacturing and processing processes.
Recently, the India Garment Export Promotion Association (ApparelExportPromotionCouncil) and Russian Federation textile and Light Industrial Enterprises Bureau (UnionofEntrepreneursofTextilesandLightIndustry) signed an understanding.
Memorandum
。
Another member from the two countries also formed a four person textile Exchange Committee.
India's ambassador to Russia AjaiMalhotra said, "the agreement will promote India and Russia.
Trading partner
Trade and investment cooperation in the field of clothing and textiles.
Malhotra said that the export volume of India's garment industry amounted to $11 billion a year, and India's garment industry exported to Russia amounted to 120 million US dollars in 2010.
Russian garments
2% of the import market, India garment exports to Russia has enormous room for growth.
"The signing of the memorandum of understanding means that the two countries' trade in textiles and clothing will grow several times in a few years," Malhotra said.
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