How Will Agra Footwear Industry Benefit From Rishi Sunak Becoming UK’s PM? Find Out
New Delhi: After Rishi Sunak’s victory in the UK PM race, the Agra Footwear Manufacturers and Exporters Chamber (AFMEC) Chairman, Puran Dawar, said the UK is already a big market for Agra footwear and, under Rishi Sunak’s leadership, the UK could come out of the economic depression which will benefit Agra footwear industry. Footwear exporter Nazir Ahmed told India Today that the new British PM will have a tough task chalked out for him, as he has to strengthen the British economy. It will also result in the growth of the Agra footwear export to the UK.
He said that Agra footwear currently attracts a duty of 4.5 per cent for entering the UK, which could be removed if India and the UK come to a mutual trade pact under Rishi Sunak. The Agra Footwear Manufacturers and Exporters Chamber (AFMEC) Chairman Puran Dawar told India Today that earlier, the UK used to run the Indian economy, but with India becoming a major economic power, soon the British economy will be run by Indian investment. The proposed Free Trade Agreement (FTA) between the two countries will be a major stepping stone in this direction.
At present, the annual footwear export to the UK from Agra was about Rs 600 crore, which could rise to over Rs 1000 crore with the FTA.
Comments are closed.