A high-level meeting was held in New Delhi this week as part of the government’s push to help Indian manufacturers take full advantage of the India-UK Comprehensive Economic and Trade Agreement (CETA).
The meeting brought together major stakeholders from the textiles, leather and footwear industries to discuss how the deal will impact their sectors.
In his message to the attendees, Union Minister of Commerce and Industry Piyush Goyal called the agreement a “transformative opportunity” that opens up global markets for Indian goods.
The Ministry said that CETA gives Indian textile and leather exporters duty-free access to the UK market, removing tariffs that previously put them at a disadvantage compared to competitors like Bangladesh and Vietnam.
For leather goods, tariffs of up to 8% will be eliminated, while footwear makers will see duties of up to 12% wiped out.
As a result, India’s leather and footwear exports to the UK are expected to grow from $494 million in 2024 to over $1 billion by 2027.
“The agreement will strengthen MSMEs and give our artisans and manufacturers the global stage they deserve”
Sunil Barthwal, Secretary, Department of Commerce
Beyond tariffs, CETA simplifies customs rules and brings Indian standards in line with global benchmarks.
The Ministry highlighted schemes like the INR 1,700 crore Indian Footwear and Leather Development Programme (IFLDP), which supports new infrastructure, design studios and branding efforts for Indian products abroad.
Industry associations including the Council for Leather Exports (CLE), Confederation of Indian Footwear Industry (CIFI), and others welcomed the agreement. They said that duty-free access will help Indian goods compete globally.
Source – PIB Delhi
