National Desk : Voc

India’s textile export sector is poised for a major breakthrough following remarks by Union Commerce and Industry Minister Piyush Goyal, who indicated that India may soon receive duty-free market access for textile products, similar to the benefits currently enjoyed by Bangladesh.

Speaking at a government event, the minister stated that India’s textile industry has already established a strong presence in global markets and that duty-free access would significantly expand exports and generate millions of new jobs.

Economic analysts believe that once implemented, this decision will increase India’s foreign exchange earnings and create large-scale employment opportunities, particularly in rural and semi-urban regions where textile manufacturing forms a key source of livelihood.

At present, Bangladeshi garments enjoy tariff-free entry into several developed markets, helping the country achieve rapid growth in its apparel exports. If India secures similar advantages, domestic manufacturers will be better positioned to compete internationally.

Government sources suggest that sustained diplomatic efforts and trade negotiations with multiple countries are underway to ensure equal market opportunities for Indian producers.

Industry experts say that small and medium enterprises will be the biggest beneficiaries of duty-free access. The entire supply chain — from cotton farming and yarn production to fabric and finished garments — is expected to gain momentum.

Economists argue that this move will strengthen India’s standing in the global textile market and could transform the country into one of the world’s leading textile exporters over the long term.

Attention is now focused on two critical questions:

When will the duty-free access come into effect?

Which countries will be covered under this new trade arrangement?

Once implemented, the policy could mark a turning point for India’s export-driven growth strategy and its employment landscape.

National Desk : Voice of Calcutta