Summary:

The Ministry of Commerce and Industry held a stakeholder conference in New Delhi with leaders from the textile, leather, and footwear industries to discuss the India-UK Comprehensive Economic and Trade Agreement. Union Minister Piyush Goyal emphasised CETA's revolutionary potential for increasing competitiveness and UK market visibility. Secretary Sunil Barthwal emphasised tariff reduction and MSME empowerment. The talks included participation from key stakeholders such as CLE, CII, Export Promotion Councils, and officials from the Textiles Ministry and DPIIT.

CETA allows duty-free access to the UK for Indian textiles and leather exports, reducing tariffs of up to 12%. This will benefit key clusters such as Tirupur, Jaipur, Surat, and Ludhiana, and it is expected to double leather and footwear exports to Rs. 8,681 crore (US$ 1 billion) over three years. It promotes GI items like as Kolhapuri footwear, as well as sustainability, digital adoption, and technical standards, while initiatives such as IFLDP improve innovation, branding, and MSME preparedness through follow-up discussions.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.