India-UK CETA to boost textile sector, help it compete with Bangladesh, Pakistan
textile and clothing exports to the UK
attracted 10-12% duty depending on the product.
Textile company Welspun Group chairman B.K. Goenka said India will now have a level playing field in the UK market. 'The CETA will give a fresh boost to textile and apparel exports from India to the UK," he said.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Data Analytics
Cybersecurity
Project Management
PGDM
Data Science
Healthcare
Artificial Intelligence
Public Policy
MCA
Product Management
Finance
Digital Marketing
Degree
Technology
others
Others
Design Thinking
Data Science
MBA
Management
Leadership
CXO
Skills you'll gain:
Data Analysis & Visualization
Predictive Analytics & Machine Learning
Business Intelligence & Data-Driven Decision Making
Analytics Strategy & Implementation
Data Analysis & Visualization
Predictive Analytics & Machine Learning
Business Intelligence & Data-Driven Decision Making
Analytics Strategy & Implementation
Duration:
12 Weeks
Indian School of Business
Applied Business Analytics
Starts on
Jun 13, 2024
Get Details
Skills you'll gain:
Data Analysis & Visualization
Predictive Analytics & Machine Learning
Business Intelligence & Data-Driven Decision Making
Analytics Strategy & Implementation
Duration:
12 Weeks
Indian School of Business
Applied Business Analytics
Starts on
Jun 13, 2024
Get Details
India is the fourth largest supplier of textile and clothing products to the UK with a nearly 6.6% share in UK's total imports of these. During 2024, the UK imported such products worth $27 billion, with apparel constituting 83% of the total. China is the largest supplier to the UK with 25% share followed by Bangladesh and Turkiye whose market shares were 15% and 8.5% respectively.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Alvarez: Unsold Furniture Liquidation 2024 (Prices May Surprise You)
Unsold Furniture | Search Ads
Learn More
Undo
Rakesh Mehra, chairman of Confederation of Indian Textile Industry, said India is a potential supplier of raw material like man-made fibre filament and specialised non-woven fabrics. 'CETA will enable our companies to significantly improve their market share not only in the top 20 product categories, but across the broader segment," he said.
The government said family run weaving units and artisan clusters in Panipat, Bhadohi, Agra along with designers, dyers and embroiderers from Kanchipuram, Bhagalpur, Varanasi and Jaipur will benefit from this trade agreement. It said there will be more jobs in hubs like Tirupur and Kanpur.
Live Events
KM Subramanian, president of Tirupur Exporters Association, said the knitwear units there export apparels worth Rs 8,000 crore to the UK which can increase to Rs 13,000 crore. The 2,000 knitwear units in Tiruppur are on an expansion spree over the last six months in anticipation of the India-UK CETA, he said.
Goenka, however, said all eyes are now on what tariff the US imposes on the textile and apparel sector. "If the US imposes a tariff as high as 25%, then the benefits from the India-UK CETA will be neutralized," he said.
On the investment side, the India-UK CETA is expected to encourage greater bilateral cooperation between Indian and UK companies, facilitating joint ventures, innovation partnerships and market development initiatives, said The Cotton Textiles Export Promotion Council.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
8 minutes ago
- India.com
No Entry For GM Crops, Says New Delhi; India-US Trade Talks Hit A Sacred Wall
New Delhi: Genetically modified (GM) crops will not be crossing India's borders anytime soon, no matter how urgently the United States knocks. As trade negotiations between New Delhi and Washington enter a crucial phase, insiders say one red line is not up for discussion. 'There are things that are not about negotiation. Some things are a matter of principle,' said a senior official close to the development. That principle, sources say, is GM corn and soy. While American negotiators have made agricultural access a central demand, pressing India for a wider entry gate for U.S. farm goods, New Delhi is not blinking, especially on GM imports. Over the years, the issue has mutated from a mere trade disagreement into a symbolic fight over sovereignty, food safety and grassroots politics. The United States Trade Representative (USTR) has repeatedly flagged India's restrictions on GM products, calling them 'non-tariff barriers'. But Indian authorities remain unmoved, largely because of the hardline stance taken by domestic groups closely aligned with the ruling establishment. Last month, the message from Sangh affiliates was if America insists on forcing GM crops into the Indian market, there may be no trade deal at all. Carried in Business Standard, that warning echoed the sentiments of influential groups such as the Bharatiya Kisan Sangh (BKS) and the Swadeshi Jagran Manch (SJM), which have long opposed agricultural concessions to Washington, particularly in sectors like dairy and GM crops. Their argument? Food security. The BKS has often warned that allowing U.S. crops into India, especially without clear labelling or transparency, could sabotage domestic farming ecosystems and compromise health safety standards. On the other hand, the SJM sees this as a direct attack on economic self-reliance. Meanwhile, the clock is ticking. U.S. officials have privately hinted at the urgency of the moment, pointing to a deadline set by President Donald Trump, who is seeking a revival of his trade agenda. Trump has marked August 1 as a red-letter day. If no interim deal is inked by then, India could be hit with reciprocal tariffs, potentially as high as 26 percent. Indian trade negotiators are not indifferent to that pressure. But according to officials involved in the process, the sixth round of talks will only happen in the second half of August after Trump's deadline expires. Any hope for a short-term resolution seems, at best, unrealistic. As one official put it, 'We are not looking at compromise in areas that touch the lives of millions.' In other words, GM corn is off the table. And perhaps, so is the deal, at least for now.
Time of India
22 minutes ago
- Time of India
MahaMetro Likely to Begin Construction of SIDM in Mihan by Mid-Nov
1 2 3 4 Nagpur: The much-awaited State Institute of Disaster Management (SIDM), proposed to come up in Nagpur's MIHAN area, is likely to see construction begin by mid-November this year. Officials from Maharashtra Metro Rail Corporation Limited (MahaMetro), which is the implementing agency for the Rs187.73 crore project, confirmed that the basic structural and design planning is complete. MahaMetro officials informed that the initial planning phase is nearing completion. "The basic structural framework and the detailed design plan are prepared. These, along with all other required documentation, are now being forwarded to the state disaster management committee for review," an official said. The state committee will examine the submitted plans and recommend necessary changes, if any. Officials added that once the feedback is received, the design will be modified accordingly and then finalised. Only after this final nod, the remaining processes such as tendering and other formalities will be initiated. "We anticipate that the approval and procedural clearances will be completed within the next few months. If all goes as planned, we are targeting to begin construction work on the ground by mid-November," the official said. The SIDM will be built on a 10-acre plot in the non-SEZ area of MIHAN, which falls under the Maharashtra Airport Development Company (MADC). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pirates Climb Aboard Cargo Ship - Watch What The Captain Did Next Tips and Tricks Undo Once developed, the institute will serve as the nodal agency for disaster training, preparedness, and planning for the entire state. It will function along the lines of the National Institute of Disaster Management (NIDM) in Delhi and will also complement the recently operational State Emergency Operations Centre (SEOC) in Mumbai. While SEOC will handle live disaster response coordination, SIDM will provide long-term support in terms of research, training modules, simulations, and policy planning. The project was approved by the state cabinet in December 2023 under the leadership of the then-deputy chief minister Devendra Fadnavis, and will be funded through the state disaster prevention budget. The State Disaster Management Authority, chaired by the chief secretary, will provide oversight, while MahaMetro will be entitled to up to 5% of the project cost as implementation charges. Officials believe the SIDM will be a landmark institution for Maharashtra's disaster preparedness and will significantly boost the state's ability to deal with emergencies in a structured and well-trained manner.
Time of India
23 minutes ago
- Time of India
7,000 crore HCITI projects crawl, city stays gridlocked
Hyderabad: Traffic congestion in Hyderabad continues to intensify, even as infrastructure projects worth over 7,000 crore under the Hyderabad City Innovative and Transformative Infrastructure (HCITI) initiative progresses at a snail's pace, with the majority of works remaining only on paper. Despite the state govt's announcement of around 40 projects, including flyovers, underpasses, and various road-widening initiatives, nearly seven months ago, there has been minimal progress. Apart from laying foundation stones at a couple of locations such as Ameenpur under the HCITI scheme, actual construction has yet to begin, even after the tendering process was completed. In fact, some of these projects were sanctioned several years ago under the strategic road development plan. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad For instance, the construction of six flyovers and underpasses near Jubilee Hills and KBR Park requires the acquisition of 307 properties, yet not a single acquisition has been completed thus far. These flyovers and underpasses were sanctioned at an estimated cost exceeding 1,200 crore in Jubilee Hills. Previously, the civic body offered double the govt rate of 92,000 per square yard—i.e., 1.84 lakh—as compensation for land acquisition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Treatment That Might Help You Against Back Pain! Back Pain Treatment | Search Ads Undo 'Ensure smooth traffic flow' The GHMC has also proposed road widening from Virinchi Hospital to Jubilee Hills Checkpost. As part of the road development plan, a 6.5-kilometre stretch connecting Banjara Hills Road No. 12 junction near Virinchi Hospital to Jubilee Hills Checkpost via KBR is set to be widened. Currently, the road width ranges between 50 and 100 feet, and the GHMC intends to increase it to 100–120 feet in necessary sections to ensure smoother traffic flow. GHMC officials cite property acquisition as the primary hurdle. "Despite serving notices to property owners and designating these properties for acquisition, the actual acquisition process has yet to commence in Jubilee Hills," said a senior official from GHMC's town planning wing. Following a comprehensive traffic study undertaken by HMDA, aimed at critically evaluating current traffic loads and congestion levels in Hyderabad, the GHMC has devised an infrastructure development plan. This includes junction improvements with grade separators/flyovers, pedestrian-friendly infrastructure, tunnel corridors, and stormwater drainage projects under the HCITI initiative. Recently, the GHMC secured financial assistance of over 2,600 crore for infrastructure developments under HCITI. This allocation covers a range of projects, including the construction of flyovers and underpasses. The budget allocation spans two quarters, running through to September. Authorities had even transferred 1,327 crore to the GHMC's personal deposit (PD) account recently.
