Exporters in Amritsar’s textile and woollen industry have welcomed the India UK Free Trade Agreement FTA calling it a major opportunity to grow exports of shawls, tweeds, blazers and blankets
The Indian government has approved the agreement, which may start from August 1 once the UK Parliament also approves it
Piara Lal Seth, president of the Shawl Club of India, said Punjab currently exports shawls worth about 500 crore rupees to the UK every year He hopes the FTA will help UK manufacturers work with Indian companies, which could improve product quality even more
The city’s woollen industry, worth over 300 crore rupees sees a bright future with this deal Around 50 local units make winter wear and employ thousands of artisans One of the oldest manufacturers Sudarshan Kumar Wadhwa said the deal will raise the demand for exports
Amritsar produces about 60 lakh metres of tweed annually which is used in Kashmir for warm clothing like phirans as well as in making coats, bags and more Blazers are also used in schools and events across India Printed textiles from the city are also sent to the UK
RC Khanna chairman of the Wool and Woollens Export Promotion Council, said the FTA will give Indian products like pashmina, worsted yarn and winter wear zero duty access to the UK This will help small businesses and traditional textile hubs like Ludhiana, Amritsar, Panipat and Kashmir
Experts believe Indian textile exports to the UK could rise from 15 billion dollars to 5 billion dollars in the next five to six years Readymade garments and textile product exports are also expected to grow rapidly
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