New Delhi: Indian negotiaters are targeting labor-intensive goods and services to promote small 1.9% of India of UK imports. The new trade pact promises zero or near-zero tariffs on textiles, leather and shoes, engineering goods, chemicals and pharmaceuticals- relief government says that Indian exports will make exports more competitive.The government said that 99% of trade (called tariff lines), which includes 100% exports of India, contains the deal.For example, in textiles, there are 1,143 items on which Indian goods will be provided with zero-duty markets, which have been enjoyed by Bangladesh, Cambodia and Pakistan so far. So, readymade clothes or household clothes, carpets, handicrafts and traditional items such as Pashmina Shawl or Kanchipuram or Bandhini sarees are expected to be achieved. India is the fourth largest textile supplier in Britain, accounting for imports more than 6%.Government officials said India is expected to perform better with contestants like Vietnam, Indonesia, Cambodia, Turkey and Bangladesh in the footwear market, in addition to Vellore and Kolhapuri Chapel and traditional leather shoes. In recent years, many big sports shoe manufacturers have tied up with Indian growers to make shoes for brands such as puma, adidas and new balances for domestic and global markets.There are areas where other markets of India have a large attendance but a limited part of the British market. Indian exporters are expected to replace contestants in various types of engineering goods, including machinery and components, where 1,659 items will be provided zero-duty access. With an export of $ 4.3 billion, India has placed a small part of the $ 194 billion machinery imports by British businesses. The government is projecting to double the price of exports by March 2030.There is also a small part of the UK pharma imports in India – only $ 1 billion out of $ 30 billion in 2024. The government is taking advantage of not only generics, but also in medical devices such as ECG machines and X -ray systems.For chemicals, where India’s exports in Britain were $ 570 million last year, the government is betting on a jump of 30-40% in the first year as more than 1,200 chemicals will be given duty-free. Business gems and jewelery sectors are eyeing an occasion, where exports are now estimated in $ 940 million.Although the government has said that it has not opened many important agricultural areas such as dairy, apples, edible oils and oats under the Cast Economic and Trade Agreement, it expects Indian grapes, processed food, bakery items and sea products to push into the UK supermarket.A lot of market access to these sections will also depend on the quality standards that put in the UK and also other trade deals which enter the coming months.
