India, Dec. 14 -- Indian garment manufacturer CTA Apparels has applauded the Government of India's encouraging progress on the India-EU Free Trade Agreement (FTA), with the blueprint now in advanced stages.

Union Commerce and Industry Minister Piyush Goyal confirmed that negotiations have been "very positive," with both sides showing readiness to arrive at a mutually beneficial agreement soon.

The European Union is India's second-largest apparel export destination, accounting for nearly 27 per cent of India's garment exports, valued at over USD 7.5 billion annually.

Currently, Indian apparel products face import duties ranging from 8 per cent to 12 per cent in the EU-tariffs that key competitors such as Bangladesh, Vietnam, and Turkey ...