New Delhi, Dec 12 The government is prioritising trade negotiations with several countries to get market access and tariff advantages for India’s exports, including textiles, Minister of State for Commerce and Industry Jitin Prasad informed the Parliament on Friday.
India has signed 15 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners.
The US, the EU and the UK are major textiles import markets contributing to more than 50 per cent of world imports and about 60 per cent of India’s textiles exports.
The India-UK Comprehensive Trade and Economic Agreement (CETA) has been signed and comes into force after ratification by both countries, said the minister.
Under the agreement, the UK will provide India market access to all textile lines at zero duties from the date of entry into force. Negotiations for India-European Union (EU) FTA and Bilateral Trade Agreement with the US are ongoing.
"These FTAs/PTAs aim to reduce tariff and non-tariff barriers, simplify procedures, and address structural issues to make Indian exports, including textiles, more competitive in partner markets," Prasada said in a written reply to a question in the Rajya Sabha.
According to the minister, the government prioritises trade negotiations with several countries to get market access and tariff advantages for India’s exports.
“The government recognises the importance of the EU and US as the world’s largest textile-consuming markets and the role of FTAs in improving India’s global competitiveness. The government remains committed to enhancing the global competitiveness of the Indian textile sector through improved access to international markets under mutually beneficial trade agreements," he noted.
Meanwhile, India’s man-made fibre (MMF) exports grew by 6.5 per cent in 2024–25, while technical textiles exports increased by over 15 per cent, reflecting the nation’s rising competitiveness in this sunrise sector.
According to Union Minister of State for Textiles Pabitra Margherita, the country is moving towards the goal of $100 billion in textile exports and a $350 billion textile market by 2030, aligned with the vision of a Viksit Bharat by 2047.
The minister noted that MMF and technical textiles are at the forefront of the global shift toward sustainable and advanced materials.
MMF currently accounts for nearly 70–75 per cent of the global fibre market, signalling a significant transformation in consumer demand and industrial applications. “India is responding to this shift with strength and confidence,” he added. There is a strong momentum under the PLI scheme for textiles, with 17 newly approved companies committing Rs 2,374 crore in investments.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor