Latest news with #ManmadeFibreandTechnicalTextilesExportPromotionCouncil
Business Standard
3 days ago
- Business
- Business Standard
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."
The Hindu
7 days ago
- Business
- The Hindu
U.S. tariffs: Garment exporters fear slowdown in orders
Apparel exports from India to the U.S. are expected to slowdown till a bilateral trade agreement (BTA) is signed between the two countries. Sudhir Sekhri, chairman of AEPC, said in a release that the U.S. tariff of 25% is higher than what was expected. The BTA should hopefully be concluded by October-December 2025. 'The penalty is a grey area and we hope the government will negotiate this with the U.S.,' he said. The U.S. held 33% share in India's total garment exports in 2024. India's presence in the U.S. garment import market has grown, with its share increasing from 4.5% in 2020 to 5.8% in 2024, he pointed out. This steep tariff increase puts immense pressure on Indian exporters, many of whom operate on wafer-thin margins. Exporters may be forced to either absorb the additional costs, hurting profitability, or pass them on to U.S. buyers, which can further dampen demand. The impact will be particularly severe on MSMEs and labour-intensive units, said executive director of the Cotton Textiles Export Promotion Council Siddhartha Rajagopal. According to A. Ravikumar, executive director, Manmade Fibre and Technical Textiles Export Promotion Council (MATEXIL), the development had created considerable uncertainty among U.S. buyers, who are currently unclear about the final tariff structure that will be applicable. As a result, many importers have adopted a cautious approach and are holding back on placing new orders.
Fibre2Fashion
7 days ago
- Business
- Fibre2Fashion
IndiaâUK CETA: A boost for India's technical textile exports to UK
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 Indiaâ€'UK CETA, signed by PMs Modi and Starmer, grants 100 per cent duty-free access to Indian exports, boosting sectors like technical textiles. MATEXIL highlights India's edge over China and aims to scale exports from $240 million to $1 billion by 2030. Efforts include market studies, compliance support, and outreach to help exporters tap UK opportunities. 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. Shri 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. Shri 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. Shri 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. ' To support the industry, MATEXIL will soon be organizing outreach programs, B2B meetings, and market intelligence sessions to ensure that Indian exporters are well-prepared to capitalize on the immense opportunities offered under the India – UK CETA. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
