India seeking market access for apparel, textiles & home furnishings exports to Argentina
India is looking for market access for apparel, textiles and home furnishing products in Argentina. It is also keen to promote ethnic products such as Khadi and handicrafts. India has potential to offer export opportunity of USD 300-350 million from the apparel and textiles industry. There might be collaborations with companies from both countries. Indian exporters of handicrafts and home furnishing products have pushed for the removal of non-tariff barriers such as custom clearances to help increase current exports which is less than USD 8 million.
The clothing industry of Argentina is expected to grow steadily in the coming years in view of the growing demand for high fashion garments and its dynamic local retail sector consisting of local and foreign brands. Argentina has more of their own local brands and the stress on local fashion is due in part to the import restrictions and taxes on international brands in Argentina, but this is swiftly changing. With soaring inflation rates, consumers are beginning to look more to international brands for cheaper alternatives, as a result textile imports have increased by over 35 percent since 2016.News