FTA Sparks Optimism for Rajasthan's Export Boom
The Free Trade Agreement (FTA) between India and the UK is set to boost Rajasthan's exports in gems, jewellery, handicrafts, and textiles. Duties will be reduced to zero on 99% of exports, providing a competitive edge in global markets and expected to increase trade significantly.
- Country:
- India
Exporters in Rajasthan are eagerly anticipating a substantial increase in gems, jewellery, handicrafts, and textile exports to the United Kingdom, thanks to the new Free Trade Agreement (FTA) with India.
The FTA, signed in July and expected to take effect next year, will eliminate duties on 99% of exports to the UK, offering a competitive advantage for Indian jewellers in the global marketplace.
Industry leaders, including Jaipur-based jeweller K B Goyal, are optimistic about the removal of the 3-3.5% duty on jewellery items, predicting a surge in exports. With Rajasthan's contribution to the nation's lucrative jewellery exports, the agreement could revolutionize India's trade landscape.
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