In response to the recently announced 25% tariff on Indian exports by U.S. President Donald Trump, Union Textiles Minister Giriraj Singh is set to hold discussions with key industry representatives next week. With the United States accounting for approximately a quarter of India’s total textile and apparel exports, the development poses significant implications for the sector.
The upcoming meeting will also explore ways to capitalize on the newly signed UK-India Free Trade Agreement (FTA), which offers fresh avenues for market expansion.
Fashion Guru
This engagement forms part of a wider initiative aimed at reaching the ambitious target of $100 billion in textile exports by 2030, while also mitigating any adverse impacts arising from the U.S. tariff decision.
Although specific policy support measures are still under consideration, the government intends to use the consultation to understand industry concerns and tap into new opportunities—particularly those emerging from the FTA.
Fashion Guru
A joint effort between the government and industry is underway to diversify product lines and identify untapped global markets to meet long-term export goals.
Shares of major
textile companies have seen a significant fall since US President Trump played a hard ball dropping the bombshell of imposing tariffs of 25% on Indian exports.
Between July 30 and Aug 5, Gokaldas Exports, among the top textiles players, experienced the steepest fall historically.
The current position is that 35% of India's exports to US to be seriously impacted.
Indian exports now have a 30-35% of unbridgeable disadvantage in the US market which is detrimental to nation's exports sector given our reliance on this market.
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