The proposed India–European Union Free Trade Agreement (FTA), particularly provisions related to zero-duty access for textiles, could significantly boost India’s textile industry and generate employment, Raymond Group Managing Director Gautam Singhania said on Monday.
Singhania said textiles remain one of the country’s largest employment-generating sectors and would benefit substantially from improved market access to the European Union under the proposed trade pact.
“Textiles are among the biggest employers in India, and duty-free access to the EU market would be beneficial not only for the industry but also for the overall economy,” Singhania said, adding that zero-duty provisions would enhance the global competitiveness of Indian textile exports.
He noted that a favourable trade agreement with the EU could also strengthen India’s position in future trade negotiations with other major economies, including the United States. “Zero duty on textiles will be very good for the industry and from an employment point of view as well. A strong deal with the EU would be a significant step,” he said.
Referring to recent engagements at the World Economic Forum in Davos, Singhania praised the efforts made by Indian states and the central government to attract investment and sign key agreements. “What the Chief Minister has done at Davos is very good. There have been many agreements for the state, and India has also signed several important agreements. This will go a long way in India’s progress,” he said.
On the upcoming Union Budget, Singhania declined to comment on specific expectations, stating that budgetary matters were beyond his remit. However, he expressed optimism that recent trade agreements and investment commitments would support long-term growth in manufacturing and export-oriented sectors.
The remarks come amid growing optimism that negotiations on the long-pending India–EU FTA are nearing completion, with industry leaders highlighting its potential to reshape bilateral trade ties, strengthen supply chains, and create jobs across key sectors such as textiles.