An Analysis of India’s Textile Exports in Context of Regional Comprehensive Economic Partnership
The present paper attempts to analysis of the Indian textile exports in context of Regional Comprehensive Economic Partnership. Presently, India has engaged a new FTA name Regional Comprehensive Economic Partnership. The RCEP 16 members include India, China, Japan, South Korea, Australia and New Zealand and 10 AESAN members. India has more gain in this negotiation in two sectors Textile and Pharmaceutical. Because, Indian textile industry is one of the oldest manufacturing sectors and it has form a significant manufacturing base of many developing countries. It has a strong legacy and significant capacities in this sector and this sector is a major employer and contributes significantly to exports. This sector is labor-intensive and it provides employment to those with simple skills, including women. Indian textile exports play a vital role in our economy not only in terms of output but also in terms of foreign exchange earnings. Its textiles exports signify almost 30 per cent of the country's total exports and it has a high influence age of over 20 per cent in the national production. At the global level, India is the second biggest producer of textiles after China and third largest producer of cotton-after China and the USA.
Keywords - India-RCEP, Free Trade Agreement, RCA, Trade Intensity.