The Cotton Textiles Export Promotion Council (Texprocil) has urged the Indian government to formulate a free trade agreement (FTA) with the UK. As per the council, UK is one of India’s largest trading partners amongst the European countries in the textiles and clothing (T&C) sector, accounting for almost 24 per cent of the T&C products exported from India to the EU region.

The country has already signed trade agreements with 62 countries ahead of the end of the Brexit transition period on January 1, 2021, including countries like Turkey, Canada, Singapore, Mexico etc. Therefore it is important for India to start the negotiations for this agreement if it does not wish to lose the first mover advantage and consequent market share, said Manoj Patodia, Chairman, Texprocil

Patodia also requested the government to simultaneously revive and expedite the FTA negotiation with the EU, as it is one the leading markets for India’s exports of T&C products where competing countries like Bangladesh, Pakistan, Vietnam have an edge over India due to a zero tariff arrangement.