New Delhi: The Free Trade Agreement (FTA) between India and the European Union (EU) is set to create significant opportunities for India’s textile, chemical, pharmaceutical, and jewellery industries. Experts believe the agreement will enhance Indian exporters‘ access to the European market and establish India as a reliable and long-term sourcing destination.
Bhadrresh Dodhiya, Director of Dodhiya Synthetics Limited, highlighted that the EU annually imports nearly $250 billion worth of textiles, yet India’s share is currently below 10 percent. He noted that neighbouring countries with duty-free access to the EU have seen their exports reach $30 to $40 billion.
Dodhiya added that amid global political uncertainties, European countries are seeking new and stable supply chains. India is emerging as a dependable, stable, and long-term supply partner for Europe.
He also pointed out that under the leadership of Prime Minister Narendra Modi, several FTAs negotiated by the Ministry of Commerce have brought major opportunities for the Indian textile industry. However, Indian manufacturers will need to align their products with European standards.
Dodhiya Synthetics focuses on plastic recycling and textile raw material production. Despite existing duties, Europe accounts for about 20 percent of its export market. He said the FTA will enable Indian companies to upgrade their product portfolios and offer European customers better quality at competitive prices.
Emphasising sustainability, Dodhiya noted that Europe leads globally in circular economy and sustainability practices, presenting vast potential for India in these areas.
He further stated that government support for upgrading the MSME sector under the ‘Atmanirbhar Bharat’ initiative could strengthen the foundation for exports to the EU. India’s political stability, strong democracy, young workforce, and large domestic market make it an attractive destination for global investment.
According to him, sustainability is a necessity for Europe, not an option. The FTA will provide a major boost to India’s circularity and sustainability efforts, marking a historic opportunity for Indian industries.
Meanwhile, Rohit Gupta, Director of ACPL Exports and SEZ, described the India-EU FTA as a milestone for the gems and jewellery export sector. The agreement will empower the Indian gems and jewellery industry by increasing trust and strength in the European market.
Gupta mentioned that the jewellery sector is labour-intensive, especially in handmade jewellery. The trade deal is expected to create new employment opportunities and boost exports. He said the FTA was crucial given the current global environment and will be a game-changer for both sides.
He added that the EU’s combined market of 27 countries offers huge potential for India. Countries like Poland, Romania, and the Czech Republic previously hosted jewellery manufacturing. Now, India, with its affordable labour, creativity, and skilled craftsmanship, has the chance to become a major manufacturing hub for the European market.
Gupta pointed out that cities like Jaipur are already renowned for gem cutting and jewellery making. Duty-free access to components from Europe, combined with value addition in India, could benefit high-value markets such as Italy, France, Germany, Sweden, Finland, and Denmark.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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