Duty-Free EU Access: $263 Billion Boost for Indian Textiles

• India's Commerce Ministry announced that duty-free access to the European Union (EU) could unlock a $263 billion market for Indian textiles.
• Currently, import duties on Indian textiles in the EU range from 0% to 12%, which will be eliminated under the new access.
• This move is expected to significantly expand opportunities in yarn, cotton yarn, man-made fibre apparel, ready-made garments, and home textiles.
• The textile sector, India's second-largest employer after agriculture, will now compete more effectively with countries like Bangladesh, which already enjoy zero-duty access.
• Industry projections from the Apparel Export Promotion Council (AEPC) estimate a 20-25% year-on-year growth in Indian apparel exports to the EU post-FTA.

Why It Matters: Duty-free EU access is set to unlock a $263 billion market, boosting Indian textile exports significantly.