A trade agreement known as the UK-India Free Trade Agreement seeks to lower or eliminate tariffs, streamline customs procedures, and facilitate easier access to each other’s markets. For the clothing and textile industry,
this may entail:
• Lower or zero tariffs on clothing and home furnishings
• Quicker trade routes and logistics clearance
• A rise in demand from buyers in both regions.
ICRA reports that if this agreement is put into effect, the volume of commerce in clothing and home textiles between the two nations might double in the following 5 – 6 years.