logo
India-UK CETA: A Boost for India's Technical Textile Exports to the UK

India-UK CETA: A Boost for India's Technical Textile Exports to the UK

PNN
Mumbai (Maharashtra) [India], August 4: The recently signed India-UK Comprehensive Economic Trade Agreement (CETA) by the Hon'ble Prime Minister of India, Shri Narendra Modi, and the Prime Minister of the United Kingdom, Mr. Keir Starmer, marks a transformative milestone in strengthening economic and trade ties between the two countries.
The Agreement offers 100% duty-free market access for Indian exports to the UK, covering 99% of the UK's tariff lines, thereby unlocking new opportunities for several sectors, particularly Technical Textiles.
Bhadresh Dodhia, Immediate Past Chairman of MATEXIL (Manmade Fibre and Technical Textiles Export Promotion Council), who was part of the High-Powered Business Delegation accompanying Prime Minister Modi to the UK, said "This historic agreement is poised to open substantial new market opportunities for India's Technical Textiles sector. India will now enjoy a significant competitive edge over China in this domain, as China does not have any FTA with the UK."
The UK currently imports Technical Textiles worth over USD 7 billion annually. India, with its growing capabilities, can scale up its exports in this segment from USD 240 million at present to over USD 1 billion by 2030.
Shaleen Toshniwal, Chairman, MATEXIL, welcomed the CETA and emphasized that key sub-segments such as Agrotech, Geotech, Hometech, Indutech, Packtech, and Sportech are poised for strong growth under the agreement, citing India's cost competitiveness and manufacturing strength. Further , he added that "With the removal of tariff barriers, Indian exporters can now significantly enhance their footprint in the UK across high-potential categories like medical textiles, protective wear, geo-textiles, industrial fabrics, and agro-tech textiles."
India already possesses the technical capability to produce high-performance textiles in line with global standards. The India-UK CETA will allow Indian manufacturers to compete on equal terms with global players in the UK market.
MATEXIL, which is entrusted with the export promotion of both Manmade Fibre Textiles and Technical Textiles, is actively collaborating with industry stakeholders and the Ministry of Textiles to:
- Identify priority export products,
- Support compliance with UK regulatory and sustainability standards, and
- Facilitate buyer-seller linkages and certification support.
Bhadresh Dodhia further advised exporters that "Until the agreement is fully implemented, Indian Technical Textile exporters should proactively study UK market requirements, technical standards, and sustainability norms to better position themselves and maximize the benefits of the CETA."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Can A Country Survive Without America? These Nations Already Already Do Without U.S. Ties
Can A Country Survive Without America? These Nations Already Already Do Without U.S. Ties

India.com

time7 minutes ago

  • India.com

Can A Country Survive Without America? These Nations Already Already Do Without U.S. Ties

New Delhi: The global order has long revolved around the United States. Its economic weight, military power and diplomatic reach have shaped how countries operate. But a handful of nations have taken a different path. They have either walked away from Washington or never entered the room. And despite years of pressure, sanctions and isolation, they continue to function. Among them, Iran stands out. For decades, Tehran has maintained one of the most antagonistic relationships with Washington. The rift deepened after the Islamic Revolution of 1979, which led to sweeping sanctions that strangled its economy. But Iran did not collapse. Instead, it shifted its focus inward, developed its oil and gas sector and invested in domestic industries. It strengthened ties with countries like Russia, China and Turkey to keep its economy running. In 2024, U.S. President Donald Trump intensified tariff threats against several countries. India found itself on Washington's radar. He accused New Delhi of buying large quantities of crude oil from Russia and selling it in global markets at a profit. He announced a 25% tariff on Indian trade and lashed out on Truth Social, claiming New Delhi had no concern for the war in Ukraine. India issued a strong rebuttal. Responding to the threat, the Ministry of External Affairs (MEA) made it clear that India would act in its national interest. MEA spokesperson Randhir Jaiswal explained that India had to turn to Russian oil because European suppliers had redirected their energy exports in the aftermath of the Ukraine conflict. At that time, Washington had supported India's decision. 'This is not a matter of choice. It was a response to the global market's limitations,' he said and pointed out the irony that countries that continue to criticise India are themselves engaged in trade with Russia, even when they face no strategic compulsion to do so. This debate has brought up a question: can a nation survive without engaging with the United States? Are there countries that have built an economic and political existence independent of American support? There are. Iran, Cuba, North Korea and Venezuela have managed to chart out such paths. Their experiences are far from smooth. Each of them has faced significant hardships. Still, they have not collapsed under pressure. Instead, they have sought out new alliances, developed local industries and found ways to adapt. After decades of sanctions, Iran signed a 25-year strategic agreement with China. The deal covers Chinese investments in Iran and steady oil purchases. Tehran also expanded military and economic ties with Moscow. Its domestic defence and technology sectors have grown despite external isolation. Its missile and drone programmes are homegrown. The country's education and healthcare systems, while strained, continue to function. Cuba has followed its own model. Since the 1960s, it has faced stringent U.S. sanctions. After embracing communism under Fidel Castro, the country was cut off from American trade. But it built a healthcare system that earned global praise. Cuban doctors and vaccines have been exported to countries across Latin America and Africa. Its tourism and biotechnology have brought in revenue. Partnerships with Russia, Venezuela and other regional allies have helped it remain afloat. North Korea offers a different case. There are no direct economic ties between Pyongyang and Washington. The two countries remain adversaries. Under Kim Jong Un, North Korea has prioritised its nuclear weapons programme and missile development. It has relied heavily on China for energy, food and essential supplies. Russia has also provided limited support. Despite economic difficulties, North Korea has continued to function under its rigid political system. Venezuela, too, has faced American sanctions, especially targetting its oil exports. But Caracas responded by strengthening its ties with Iran, China and Russia. It used its vast oil reserves as leverage, exchanging energy for investment and support. Each of these countries has followed a different model. Some turned to authoritarianism, while others leaned on regional alliances. But all have demonstrated that an economic existence without the United States, while difficult, is not impossible. These examples do not suggest that global engagement with Washington lacks value. The United States remains the world's largest economy and a central force in international diplomacy. But these nations show that with the right strategies, strong internal planning and alternative partnerships, survival outside the American orbit is not only possible, but it is already happening.

From Russia…
From Russia…

Time of India

time7 minutes ago

  • Time of India

From Russia…

Washington is no slouch when it comes to buying from Moscow. So what's India doing wrong When Russia annexed Ukraine's Crimea region in 2014, US punished it with sanctions. US-Russia trade, which was worth over $38bn in 2013, slipped to under $35bn in 2014, $23bn in 2015, less than $20bn in 2016, and then started rising again from 2017, although Crimea remained with Russia. What changed was that Obama left White House and Trump came in. In 2021, the last year before Putin invaded Ukraine wholesale, Russian exports to US amounted to $29.6bn – almost the same as in 2012. This recap is important when Trump is threatening to make an example of India with 'substantially' higher tariffs for buying Russian oil. The same Trump who, in Feb, said Ukraine 'should have never started' the war. Look at Europe, too. EU's own data shows it supplied 10.3% of Russian imports last year, and bought 7.3% of its exports. Total goods trade between the 'virtuous' and the sanctioned amounted to a not insignificant $78bn – much more than the $69bn India-Russia bilateral trade last year. And data from the nonprofit CREA shows EU's spending on Russian energy last year – $25.3bn – was more than its financial assistance to Ukraine – $21.6bn. That's why the West's moral grandstanding on the Ukraine war fails to convince. For Trump officials to accuse India of financing Putin's war, while ignoring EU's Russia trade, and America's own $3bn worth of Russian imports, is nothing but hypocrisy. How is it kosher for US to continue buying enriched uranium from a sanctioned Russia to meet its energy needs, while frowning upon India's purchase of Russian oil to fuel its growing economy? MEA spokesperson Randhir Jaiswal pointed out in a tweet on Monday that US had nudged India to buy more Russian oil at the start of the war 'for strengthening global energy markets' stability'. Europe was the biggest buyer of Russian oil and gas then, and for it to take a righteous stand, 'traditional supplies were diverted to Europe'. India at that time sourced less than 1% of crude from Russia. By making the switch, it spared the world an inflationary wave so soon after the pandemic. As things stand, India's saving not more than $2bn a year by buying discounted Russian oil. It can pivot to West Asian suppliers again, but everybody – including US – will then feel inflationary pain. Trump shouldn't forget that while trying to armtwist India into a trade deal. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Times of India.

Services sector activity hits 11-month high in July
Services sector activity hits 11-month high in July

Time of India

time17 minutes ago

  • Time of India

Services sector activity hits 11-month high in July

NEW DELHI: Demand for Indian services remained robust, and activity in the sector reached an 11-month high in July, driven by strong global orders, including from the US. Business confidence also strengthened, as shown by a survey released on Tuesday. In July, the HSBC India Services PMI business activity index was at 60.5, slightly changed from 60.4 in June, indicating another sharp increase in output. The rate of expansion was the best since Aug last year. The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to a questionnaire sent to 400 service sector companies. Stay informed with the latest business news, updates on bank holidays and public holidays .

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store