The India-UK Comprehensive Economic and Trade Agreement (CETA) is set to transform MSMEs in the textiles, leather, and footwear sectors by enabling duty-free access to the UK market. This levels the playing field with competitors like Bangladesh and Vietnam and is expected to double leather and footwear exports to $1 billion in 3 years.
- Major MSME clusters like Tirupur, Jaipur, Ludhiana, Panipat, Bhadohi, and Moradabad will benefit
- Increased visibility for GI-tagged products like Kolhapur footwear
- Boost to employment, artisanal crafts, and women/youth-led enterprises
- Encourages sustainable practices, e-commerce integration, and tech adoption
A game-changing move toward global competitiveness and inclusive growth for India’s MSMEs.
Reference: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2149474