According to attention, India now has a clear 12% tax advantage over China, which has the highest market share in RMG imports in the United Kingdom
India is expected to double your 6 percent market in 2024 to 12 percent in imports of garments to use (RMG) of the United Kingdom, which translates into an incremental annual export opportunity of around $ 1.1-1.2 billion in the medium term, agreeing.
On May 6, India and the United Kingdom sucked a beneficial and mutual free trade agreement (FTA) that will open mass export opportunities for many labor intensive sectors in India. The Ministry of Commerce said that 99 percent of Indian exports will benefit from zero task.
The RMG sector represented around $ 525 billion in the trade of global and RMG textiles in 2024. The main markets include the European Union (EU), the United States of America (USA (USA), the United Kingdom, Japan, Canada and the import of South Korea.
The United Kingdom is among the five main RMG markets, with imports of around $ 20 billion in 2024. Careedge said that India currently exports almost $ 1.2 billion or RMG to the United Kingdom of its total exports of $ 15-16 billion.
The qualification agency said that countries such as Bangladesh, Türkiye, Cambodia and Italy enjoy free access to the United Kingdom market, while Vietnam and Pakistan benefit from lower to zero rates.
“The united India-Reino NAFTA is a game change for the RMG sector of India, creating a field that plays at the key competing nations level to access the RMG market of almost $ 20 billion in the United Kingdom, Carenge said.
According to attention, India now has a clear 12 percent tax advantage over China, which has the highest market share in RMG imports in the United Kingdom.
“China has lost its participation in the market in recent years, and it is expected to continue losing its participation in the United Kingdom RMG market due to its decrease in competitiveness, supported by the increase in labor costs and the ‘outbreak’ sprout ‘of China plus a’ supply ‘, the rating of the classification classification qualification classification classification classification classification classification classification classification classification classification classification classification classification classification classification classification qualification qualification qualification Qualification rating rating rating rating rating rating rating “, rating qualification rating rating rating rating rating rating rating rating rating rating rat ratter
In addition, socio -political uncertainties in Bangladesh can also lead to brands and retail retail with a significant presence in the country to diversify their supply, benefiting India.
It is expected that the recovery of the general demand of RMG of the United Kingdom, with moderating inflation and interest rates, together with the increase in the competitiveness of India, the elimination after service and the continuous regimes of favorable policies in India, such as the PM Mita) Park and Akendra), it is expected to help the sector to obtain additional thesis export opportunities.
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Posted on May 11, 2025
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