The engineering, food, textile, and garment industries in Coimbatore and nearby areas will see huge export potential because of the Comprehensive Economic and Trade Agreement (CETA) between India and the UK, according to industry associations.
Rajesh Duraiswamy, chairman of CII Coimbatore, said the India-UK comprehensive trade agreement is a transformative opportunity for Indian exporters, especially for the vibrant industrial eco system of Coimbatore.
“This agreement eliminates steep tariffs, ranging from 8% to 16% and up to 70% for processed foods, granting immediate duty-free access to the UK, one of the world’s most lucrative markets. For Coimbatore’s core sectors such as textiles, engineering goods, pumps and machinery, agro-products and IT services, the benefits are both immediate and far-reaching,” he said.
Indian home textile sector to double its share in the UK market
The agro and food processing sector stands to benefit enormously, as products such as coconut and coir, previously facing duties as high as 70%, will now enter the UK at zero tariffs, opening new avenues for local producers.
