From Wimbledon towels to Scotch: What India-UK trade deal could mean for shoppers
The UK and India have implemented a new free trade agreement that reduces or removes tariffs on the vast majority of goods traded between the two nations. Indian manufacturers, particularly in the textile sector, expect this deal to significantly boost exports and improve competitiveness against regional rivals.
Why it matters
This pact represents a major economic shift for the world's fifth and sixth largest economies, potentially adding billions to their respective GDPs.
Image source, NurPhoto via Getty Images Image caption, The trade deal could give a fillip to India's garment exports which face stiff competition from Bangladesh and Pakistan
In the offices of Welspun Living, the Indian company that makes championship towels for Wimbledon, preparations have been gathering pace to take full benefit of the India-UK free trade agreement (FTA) that came into effect on Wednesday.
The home textile manufacturing giant, among India's largest, supplies bedsheets and towels to several major British high-street retailers like John Lewis and Tesco among others.
"Many of these brands have been in India in recent weeks to chart a business roadmap for the next few years. We typically did joint forward planning only for our US customers, but now, with the deal, it's happening with UK clients too," Dipali Goenka, CEO of Welspun Living, told the BBC.
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