A new chapter dawns for Indian industries with the India-EU FTA, spotlighting growth in textiles, footwear, and allied fields. Visionaries in the sector project exponential export rises, job multiplication, and investment floods, fortifying ‘Make in India’ amid global shifts.
Tirupur’s Kumar Duraaiswamy labels the EU agreement—after 20 years—the ‘mother of all deals,’ targeting $40 billion textile exports by 2030 from $13 billion now. The hub’s 45,700 crore rupee knitwear output (68% national) sends 25,000 crore to Europe, eyeing 50,000 crore.
Bruised by U.S. tariffs, exporters rebound with EU access. European firms invest directly, amplified by Tamil Nadu summits showcasing regional might.
Rafiq Ahmed, Kothari Chairman, celebrates the EU’s market might for leather and footwear, where investments yield outsized jobs—25,000 from 1,500 crore—for women empowerment, pending policy boosts.
Dr. Sanjeev Saran terms it historic, countering tariff aggressors with vast markets, ventures, and quality-driven diversity in labor sectors. Strict EU norms require Indian readiness.
Stability elevates India over volatile zones. CEPC’s Gomber anticipates tech infusions and value-added export surges against U.S. woes.
Balanced yet advantageous, the FTA catapults exports, jobs, and India’s manufacturing clout worldwide.