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‘India-UK FTA will give level playing field to exporters’
Dec 14, 2023

India-UK free trade agreement (FTA) will give a level playing field to Indian textile exporters and boost exports as heavy duties levied by the UK is a challenge for Indian exporters, said Rajeev Saxena, joint secretary, ministry of textiles on Wednesday.
'Indian exporters are facing challenges specially from Europe because they have to pay heavy duties as compared to Bangladesh and Vietnam.
These competing countries have an advantage over India. The India-UK FTA will give a level playing field to Indian exporters and will help exports grow significantly from India,' said Saxena on the sidelines of an event in Indore.
The negotiations over the FTA between India and the UK are still ongoing with the trade segment hoping for a quick signing off on the agreement that will give an easy and greater access to players to each other’s markets.
Saxena was in the city to participate in roadshow for Bharat Tex 2024, the first edition of the global textile expo to be held in New Delhi from February 26-29, 2024 and organised by a consortium of 11 textile export promotion councils and supported by the ministry of textiles with an aim to promote Indian textile industry and showcase the entire value chain of the sector to the world.
'India will aim to achieve $100 billion exports in textiles by 2030 and the growth is expected to come from the sunrise and traditional segment. The traditional India textile sector like handloom and handicraft are very much admired outside India,' said Saxena.
He said, the technical textile is a sunrise sector and a special scheme has been launched by the National Technical Textile Mission to support startups where grants of up to Rs 50 lakh is given to young entrepreneurs.
 
'Technical textiles are high value items and have a lot of potential in India as it covers everything right from infra to health. Much research work is done and prototypes are developed but they are not commercialised. Young entrepreneurs can seek help from the government of India and can develop products and markets in the world,' said Saxena.
He said, Madhya Pradesh is an important destination for textile and considering its importance, the government of India has sanctioned the PM Mitra Park in Dhar.
'PM Mitra Park in Madhya Pradesh will scale up the economy and the entire value chain can be consolidated and logistics cost could be reduced. MP has strength in spinning, manufacturing sector, handlooms, handicraft and has good availability of skilled labourer in textile,' said Saxena.
 
    
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