India Launches Global Outreach to Boost Textile Exports Amid US Tariffs
India plans outreach programs in 40 countries, including the UK, Japan, and South Korea, to enhance its textile exports. This move emerges in response to a 50% tariff imposed by the US. The initiative aims to explore markets that collectively account for over USD 590 billion in textile imports.
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India is initiating dedicated outreach programmes in 40 nations to boost textile exports, particularly as US tariffs significantly impact trade, officials confirmed on Wednesday. The targeted markets include the UK, Japan, and South Korea, among others, representing vast opportunities for market expansion.
Export Promotion Councils (EPCs) will spearhead these efforts, guiding market mapping and establishing connections with production clusters. The outreach is part of a wider diversification strategy amid a steep 50% tariff imposed by the US, impacting exports worth over USD 48 billion.
Industry leaders, like Mithileshwar Thakur of the Apparel Export Promotion Council, express concern over the tariff's impact, seeking fiscal support from the Indian government. The strategy emphasizes positioning India as a reliable supplier and leveraging free trade agreements to enhance competitiveness.
(With inputs from agencies.)
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