India's Textile Triumph: Expanding Exports Amid Trade Tariffs

A high-level Indian delegation, featuring top officials and exporters, has embarked on a trip to London to bolster the country's presence in the global textile market. This initiative comes as part of a strategic plan to enhance trade engagement between India and the UK, enabling both nations to leverage significant opportunities.

Due to the U.S. imposing 50% tariffs on Indian textiles, India is now shifting focus to 40 other countries which collectively represent a substantial USD 600 billion textile and apparel import market. This redirection of strategy signifies India's ambition to broaden its market share in the global textile industry.

India recently signed a Comprehensive Economic and Trade Agreement (CETA) with the UK on July 24, encompassing 26 sectors. The agreement aims to boost bilateral trade value to USD 112 billion and facilitate India's goal to double textile exports by 2030 through sustainable initiatives and better market access.

(With inputs from agencies.)