Growth Outlook For Automotive, Textile, and Consumer Goods

Published

This comprehensive trade agreement opens up massive global avenues for the automotive industry by slashing steep tariffs from roughly 110% down to a minimal 10% under a calibrated quota system. India will secure completely duty-free access for up to 88,000 electric, hybrid, and hydrogen-powered vehicles in the UK market starting from the sixth year of implementation. Concurrently, India will allow the import of 378,000 conventional UK vehicles at concessional customs duties spread over a 15-year period. In the textile sector, Indian apparel exporters will finally gain a level playing field against zero-duty competitors like Bangladesh and Vietnam. Industry bodies like CITI and TEXPROCIL expect India’s market share in the UK to double from 6.7% to at least 12% over the next 3 to 5 years, pushing total textile trade from $1.9 billion to $3 billion. Furthermore, Indian consumers will enjoy cheaper access to premium UK imports like Scotch whisky, luxury cosmetics, and chocolates, while Indian brands receive a major opening to export processed foods and Ayurveda cosmetics to the UK.

Get in touch with us

Fill the following details and send your query to us and we will provide the support you need.

Support Center 24/7

+022 4322 4000 (25 lines) Time : 10 AM - 6 PM

Our Location

1st Floor, Old Oriental Building, 65 M.G. Road, Mumbai: 400023