Cotton Textiles EPC Pins Hope On May 1 Rollout Of Indiauk FTA Europe Pact Expected By End-2026

(MENAFN- KNN India) New Delhi, Apr 10 (KNN) India's proposed Free Trade Agreement (FTA) with the United Kingdom is expected to come into force by May 1, while a similar pact with Europe could be finalised by the end of 2026, according to Cotton Textiles Export Promotion Council (TEXPROCIL) Vice Chairman Ravi Sam.

Speaking after a business leaders' meeting in Coimbatore attended by Commerce Minister Piyush Goyal, Sam said,“Now Ministers are assured it should be around the first of May that the UK will come into play, and also Europe will be by the end of the year. With both this happening, it's going to open a huge market for the Indian exporters, not just textiles, across the board,” reported ANI.

Relief for Textile Sector and Industry

Sam noted that the FTAs would particularly benefit the textile industry, which has long struggled with high tariffs and anti-dumping duties in Western markets. He said Indian exporters have been losing out on opportunities in the UK and Europe for nearly two decades due to these barriers.

Sam emphasised,“For almost two decades, we've been having these unfortunate tariffs put on us and anti-dumping duties, etc. And we've been losing out on the whole of Europe and the UK. I think this is very good news. So we really hope, like the minister says, we get a very proactive government which works with the central government and many of our wishes come true, starting from the airport.”

The upcoming agreements are expected to ease such restrictions, providing a boost not only to textiles but also to multiple manufacturing sectors facing global trade uncertainties.

(KNN Bureau)

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