Goyal emphasised that the landmark trade pact positions Indian exporters for significant growth by eliminating tariff disadvantages of up to 12 per cent previously faced in the UK market compared to competitors like Bangladesh, Cambodia, and Pakistan.
He said this while addressing an industry interaction with stakeholders from the textiles, leather and footwear sector in New Delhi to discuss the opportunities created by CETA, the Ministry of Commerce and Industry said in a press release.
Commerce Secretary Sunil Barthwal stressed that CETA will empower Micro, Small and Medium Enterprises (MSMEs), enhance global recognition for Indian artisans, and create employment opportunities. The agreement removes UK’s import duties on Indian leather goods (2–8 per cent), leather footwear (4.5 per cent), and non-leather footwear (11.9 per cent), levelling the playing field for Indian exporters.
Segments including readymade garments, home textiles, carpets, and handicrafts are expected to benefit from the zero-duty market access, with textile hubs such as Tirupur, Jaipur, Ludhiana, and Moradabad among those poised for growth.
The pact also ensures protection for Indian Geographical Indications like Kolhapuri footwear and Mojari, simplifies customs procedures, aligns technical standards, and encourages sustainability and digital integration among MSMEs.
The Indian Footwear and Leather Development Programme (IFLDP), with an outlay of ₹1,700 crore (~$195.79 million), and the proposed Focus Product Scheme will further support infrastructure, technology, and brand building.
Industry stakeholders, including CLE, CII, CIFI, IFCOMA, FDDI, CLRI, LSSC, and various textile export promotion councils, welcomed CETA and called for proactive follow-up measures to maximise its benefits. The ministry plans to conduct additional consultations and engage manufacturing clusters across states to ensure widespread preparedness and sectoral readiness, added the release.
ALCHEMPro News Desk (SG)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
