What assessment his Department has made of the potential impact of the UK India Free Trade Agreement on the UK fashion industry.
Helping our world-class fashion industry grow remains a government priority. The FTA will expand consumer choice, reduce costs for UK businesses, and strengthen their competitiveness in India’s fast-growing market.DBT’s impact assessment, published at signature, noted a small decrease in output growth in clothing and textiles, but the UK and Indian sectors are largely complementary; clothing retailers will benefit from cheaper imports and luxury UK garments like Harris tweed will se tariffs removed. There is a bilateral safeguard mechanism to protect any sector facing injury.We will continue working closely with industry to monitor and maximise the FTA’s benefits.