Expressing concern on Free Trade Agreements (FTAs) with Japan, Australia, UAE, and South Korea, the minister said that utilisation of benefits are very poor in India. He also said that Bureau of Indian Standards (BIS) will spend Rs. 40 crore for setting up 21 testing laboratories across the country.
The textiles and apparel industry seem to be in the midst of an inventory recession. It is battling a 25-35% fall in domestic sales even as exporters offload unsold stocks in the market.