Rajasthan Exporters to Benefit from India-UK Free Trade Agreement
Rajasthan's exporters, especially in gems, jewellery, handicrafts, and textiles, are poised for significant growth due to the new India-UK Free Trade Agreement (FTA), which makes 99% of Indian exports duty-free to the UK. This agreement is expected to enhance competitiveness against China and Thailand, reshape India's export landscape, and diversify trade partnerships, offering substantial opportunities for Rajasthan-based businesses.
The recently signed India-UK Free Trade Agreement is set to transform trade dynamics for Rajasthan's export sector, particularly in gems, jewellery, handicrafts, and textiles. With 99% of Indian goods, including these key Rajasthan exports, gaining duty-free access to the UK market, local businesses anticipate a major boost in trade volumes and global competitiveness. Jaipur's jewellers, for example, expect to challenge the dominance of China and Thailand in the UK market. The FTA not only reduces tariffs but also simplifies trade regulations, encouraging more Indian companies to export to the UK. This move is part of a broader strategy to diversify India's export destinations and reduce dependence on traditional markets. The agreement is expected to create new opportunities for small and medium enterprises in Rajasthan, driving regional economic growth and employment. Industry experts highlight that the FTA will likely lead to increased investment in Rajasthan's export-oriented sectors, as businesses seek to capitalize on preferential access to one of the world's largest economies. Overall, the India-UK FTA represents a significant step in strengthening bilateral trade relations and positioning Rajasthan as a key player in India's export resurgence.
