Indian exporters, who were concerned about mutual tariffs from the US, have now got a great relief from the completion of the trade agreement with Britain. Under this agreement, exports of many areas will get the benefit of zero fee.
Due to this, with the increase in competitiveness of Indian products in the UK market, now the export of these products is also likely to increase significantly. In addition, under this FTA with Britain, a target has also been set to make a significant increase in trade between the two countries, which will also help in increasing exports.
The deal has brought a new ray of hope, especially for the textile sector of India, where there is an excessive need for workers. India’s textile industry will now be easier to compete with cheap products of Bangladesh and Vietnam in the UK market, as the region has got a 10% fee relief. The textile sector hopes that the deal will increase exports to Britain by $ 1 billion. Apart from this, this deal will also indirectly improve the employment situation in India. Apart from this, new investment can also come in the textile sector. This is very important for Gujarat as Gujarat is one of the top states of India in the textile sector. Significantly, in 2024-25, India’s textile sector exports to Britain to $ 1.4 billion. Similarly, in the gemstone and jewelery sector, where Gujarat is in the leading states, the trade agreement with the UAE has also created enthusiasm. According to industry experts, now with zero tariffs, the region will be able to increase its exports from the current $ 941 million to $ 2.5 billion within the next one and a half to two years. Wood and furniture industry in Gujarat is also a major business, which will benefit greatly from this trade agreement. Significantly, under the terms of the trade agreement between India and Britain, 99 percent of Indian products to be exported to Britain will be levied zero duty, while India will have to reduce whiskey from Britain and the duty on which imports will have to be reduced from 150 percent to 75 percent.
