Kanchipuram Silk Weavers See India-UK FTA As Ray Of Hope For Their Sagging Businesses

(MENAFN- IANS) Chennai, July 30 (IANS) Kanchipuram, a renowned pilgrimage centre in Tamil Nadu and widely known for its array of handloom products, is anticipating good outcomes from the Free Trade Agreement (FTA) signed between India and the United Kingdom.

The town, home to about a thousand temples, boasts more than 6,000 handloom weavers, who are mostly centred in areas like Pillayar Palayam and Ayyampettai.

These weavers sell their sarees to private companies and cooperative institutions. However, the rise of 'power-loom sarees' being sold as Kanchi silk sarees has negatively impacted the livelihood of genuine Kanchi silk saree weavers.

The recent surge in gold and silver prices further heightened their woes and resulted in decreased sales, affecting the weavers' income. The weavers are now demanding that the government control the prices of gold and silver to alleviate their struggles.

Amid the challenges, the India-UK agreement has come as respite for them as they expect it to boost silk production and provide more opportunities to weavers. The agreement could help increase production and exports, benefiting the local weavers.

According to Mohan, a local silk saree producer, this agreement is a welcome development, and this could help the industry grow.

Overall, the Kanchipuram silk industry requires support to overcome these challenges and capitalise on opportunities like the India-UK FTA agreement.

The FTA, also known as the Comprehensive Economic and Trade Agreement (CETA), is expected to significantly enhance jewellery exports from India, said reports citing experts.

Notably, the FTA was signed to give impetus to economic ties between the two nations. The agreement aims to boost trade by reducing tariffs, streamlining customs processes, and enhancing collaboration across various sectors.

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