Elation sweeps through Surat’s textile markets after India sealed a groundbreaking Free Trade Agreement with the European Union. Traders are thanking Prime Minister Narendra Modi for steering this vital deal, which counters recent trade headwinds and heralds prosperity.
The US tariff escalation had battered the industry, alongside disruptions from Bangladesh. Europe’s market, however, offered untapped potential. Kailash Hakim, Federation chief, called the 18-year journey a triumph of persistence. ‘Tariffs couldn’t derail us; Europe’s superior tech awaits,’ he affirmed.
Key gains include duty-free garment shipments to Europe, where demand surges. Surat, famed for man-made fibers, held 9% share pre-deal—expect that to skyrocket. Importing top-tier European machinery will sideline inferior Chinese alternatives, sharpening competitive edges.
With an ecosystem worth ₹150 lakh crore and second only to farming in GDP contribution, Surat’s fortunes are intertwined with national growth. Sushil Gupta deems it a ‘milestone,’ reversing US-inflicted wounds via PM Modi’s efforts.
Johnny Rathod spotlighted the tariff-free EU gateway and machinery revolution. ‘Modi ji’s focus on textiles is unmatched; we owe him our thanks,’ he said. The pact promises not just survival but dominance in global textiles.
As negotiations bear fruit, optimism abounds. Enhanced quality, booming exports, and innovative production will propel Indian labels onto world stages, ensuring Surat remains a textile powerhouse.