H&M’s CEO highlighted India’s growing importance as a sourcing destination, noting that the inclusion of textiles in the EU-India trade agreement is a positive development. Once tariffs on textiles are removed, India will become even more attractive for global retailers, strengthening its role in the international fashion supply chain.
Global fashion retailer H&M has expressed optimism about sourcing more from India, aligning with the EU-India trade deal that includes textiles. The CEO emphasized that tariff removal will significantly enhance India’s competitiveness, making it a preferred hub for global apparel and textile procurement.
Key Highlights:
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CEO’s Statement: H&M aims to expand sourcing from India, leveraging the EU-India trade framework.
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Textiles in Agreement: Inclusion of textiles in the trade deal is seen as a major positive.
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Tariff Removal Impact: Once tariffs are lifted, India’s cost competitiveness will improve, attracting more global buyers.
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Strategic Importance: India’s textile industry offers scale, skilled workforce, and diversified product range.
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Global Supply Chain: Strengthens India’s position as a reliable sourcing hub for international fashion brands.
The EU-India trade deal could reshape global apparel supply chains, with India emerging as a stronger player in textile exports. For H&M, this represents both a cost advantage and an opportunity to deepen its engagement with India’s manufacturing ecosystem.
Sources: Reuters, Economic Times, Business Standard, Mint