Brexit will provide Indian companies the opportunity to capture a substantial market share in the UK. The playing field will eventually even out among all major exporter nations.
For India, the UK is a key market for textile and apparel products. Out of India’s total textile and apparel exports to the EU, the UK had a 23 per cent share in 2016. India is the fourth largest supplier of textile and apparel products to the UK. However India’s share declined from 6.8 per cent in 2012 to 6.6 per cent in 2016.
Apparel is the largest category with a share of 75 per cent in India’s textile and apparel exports to the UK. This is followed by cotton textiles and manmade textiles having shares of 12 per cent and five per cent respectively. The UK is a major consumption center of a variety of textile and apparel products from around the world. Apparel is the largest imported category by the UK, representing 76 per cent of total textile and apparel imports. This is followed by manmade textiles, cotton textiles, and carpets with a share of nine per cent, seven per cent and four per cent. China is the largest supplier, followed by Bangladesh, Turkey and India.