In a significant meeting held in New Delhi, Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), and Vijay Agarwal, Chairman of TEXPROCIL, met with Commerce and Industry Minister Piyush Goyal to discuss & deliberate pressing issues/concerns related to the proposed India-US Bilateral Trade Agreement (BTA) in the making.
The meeting was prompted by reports suggesting that reciprocal tariffs of up to 26% might be imposed after July 9, potentially harming India's textile and apparel exports to the US. The Chairmen expressed apprehensions about the impact on the labour-intensive textile industry, a major contributor to India's exports and employment.
They categorically outlined the vulnerability of apparel and home textiles, core export categories to the US, to any tariff rise. The potential consequences, including a decline in exports and job losses, especially in MSMEs and rural areas/hinterland, were also underpinned. The minister assured the delegation that the government would prioritize protecting labour-intensive sectors during the trade negotiations/bilateral engagements, ensuring India's interests are paramount and properly safeguarded.
This meeting well demonstrates the Government's proactive approach to addressing industry & trade concerns and its deep commitment to the growth and global competitiveness of India's textile and apparel (T&A) sector.
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