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The Economic Times
The Economic Times
Neha Dewan

Why the India-UK trade pact could make this India’s decade for the textile industry

India United Kingdom FTA

The $179-billion textiles & apparel industry is set to benefit from the India-UK Comprehensive Economic and Trade Agreement (CETA) that comes into force from July 15. By granting zero duty access to nearly 99% of Indian exports entering the UK market, the pact will open new opportunities for an industry which is the second largest employment generator in India.

The textiles & apparel industry contributes 2% to the country’s gross domestic product (GDP), 11% of manufacturing gross value added (GVA), and 8.63% of total exports, which highlights its critical role in shaping India’s economic architecture.

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