The Cotton Textiles Export Promotion Council has welcomed the initiative by the Ministry of Textiles for a trade deal with the U.K.
Chairman of the Council Manoj Patodia said in a press release on Wednesday that the initiative to include textiles and clothing in the proposed deal would benefit the sector. A free trade agreement with the U.K. as a duty-free regime would create a level playing field with other competing countries, he said.
The U.K. was one of the largest trading partners for Indian textile and clothing sector among the European countries, with 24 % share in textile and clothing Indian exports shipped to the Europe region. The U.K. has signed trade agreements with 62 countries, including competing countries such as Vietnam, Bangladesh, and Pakistan. So, it is imperative that India concluded a deal with the U.K. soon, he said.
