India urges Bangladesh on cotton yarn notification.

Agra: India on Tuesday urged Bangladesh to notify it as a country from where it imports cotton yarn as input for textile products it exports to European Union.

At a bilateral meeting with Bangladesh commerce minister Ghulam Muhammed Quader, India’s trade and textiles minister Anand Sharma raised the matter at the sidelines of the Partnership Summit jointly organised by the Indian commerce ministry and the Confederation of Indian Industry lobby group in Agra.

EU’s generalized scheme of preferences (GSP) helps developing and lesser developed countries by allowing them to export their products at a lower tariff rate to the EU.

Once Bangladesh notifies India as a source country for its inputs under the revised rules of origin of EU, the tariff concession benefits of EU’s GSP will also be available to Indian fabric and yarn exporters to Bangladesh.


Source : livemint.com