New Delhi: The Confederation of Indian Textile Industry (CITI) on Monday said Donald Trump’s return as the next US President will bolster India’s textile and apparel trade with its largest international market.
In 2023, the US accounted for approximately 27 percent of India’s total textile and apparel exports, underscoring its crucial role in the industry’s global reach.
In the current financial year, India’s textile and apparel exports to the US during April-August increased by about 6 percent compared to the same period last year.
“This outpaced the growth rates of key competitors, with China at 2 per cent, Vietnam at 0.4 per cent, and Bangladesh recording a decline of -2.2 per cent. India’s enhanced performance signals its growing preference among US buyers and highlights its increasing share in this critical market,” said CITI Chairman Rakesh Mehra.
Mehra emphasised that President Trump’s previous administration focused on reducing dependency on China by diversifying trade sources, a stance that aligns with India’s aspirations to strengthen its position in the US market.
“With the new administration, the Indian textile and apparel industry is optimistic about expanding its role as an alternative supplier to China,” said Mehta.
However, a significant barrier remains in the form of high tariff rates, which can reach up to 32 percent for certain apparel categories.
This restricts India’s ability to increase its market share further, said Mehta.
He further stated that the new government will work closely with India to facilitate tariff revisions, thus positioning India as a key supplier of quality textile and apparel products to the US.
The confederation said this could catalyse a new phase in India-US textile trade relations, providing a valuable alternative to China for American retailers and consumers alike.
For more updates Subscribe to Media Eye News
–IANS
