Tunisia offers a package of tax benefits
COIMBATORE: A five-member Indian delegation visited Tunisia recently to explore industry-level cooperation in textiles.
One of the delegates told The Hindu that Tunisia exported textiles, mostly garments, worth $4.7 billion annually and mainly to the European Union. The African country had zero duty access to the European Union on the condition that its units used domestic fabric or fabric exported from the Union. It had a strong garment industry and planned to establish processing units. A textile park with common treatment plant was also proposed.
The delegate said about 65 per cent of India’s fabric exports were grey fabric and a substantial quantity went to the European Union. Tunisia also imported grey fabric and yarn from India. It wanted Indian units to explore investments, including joint ventures, in the processing segment and offered a package of tax benefits and incentives to the investors.
The advantage for Indian units was the access to the European market. Apart from holding meetings with officials of the investment and export promotion organisations, the Indian delegation also invited an industrial team to come to India and discuss the business opportunities directly with investors here.