Navigating Tariff Turbulence: India's Textile Industry Faces New Challenges and Opportunities

Union Textiles Minister Giriraj Singh is scheduled to meet industry stakeholders next week amidst rising concerns over US President Donald Trump's decision to impose a 25% tariff on Indian exports. The textiles and apparel sector, which represents about 25% of India's exports to the US, faces significant challenges.

The meeting aims to assess the potential impact of these tariffs and explore opportunities arising from the newly signed UK-India Free Trade Agreement (FTA). The government, alongside the industry, is eager to achieve a USD 100 billion export target by 2030, despite the hurdles from the recent US announcement.

While concrete measures are yet to be finalized to support domestic exporters, discussions will focus on industry feedback, addressing challenges, and leveraging the potential of untapped markets. The minister's engagement is seen as a proactive step to support the industry in navigating these complexities.

(With inputs from agencies.)