Textile Turmoil: Indian Industry Faces Tariff Troubles
Union Finance Minister Nirmala Sitharaman held a meeting with textile industry representatives to address economic issues, particularly the 50% US tariff. Concerns were raised about the tariff's impact on Tamil Nadu's exports. Calls for government intervention and relief packages have been made to protect the industry and jobs.
- Country:
- India
Union Finance Minister Nirmala Sitharaman convened an urgent meeting with textile industry leaders, addressing mounting economic challenges, especially the 50% tariff imposed by the United States.
During the discussion, state's BJP chief Nainar Nagenthiran and BJP women's wing president Vanathi Srinivasan emphasized the political dimensions of the crisis. Chief Minister M K Stalin highlighted the tariff's grave impact on Tamil Nadu, threatening thousands of jobs and costing Rs 3,000 crore in Tiruppur exports.
Makkal Needhi Maiam party founder, Kamal Haasan, called for swift central and state relief measures for Indian exporters. The industry now awaits comprehensive strategies from the Union Government.
Advertisement
ALSO READ
India Challenges US Tariffs on Copper, Seeks WTO Intervention
India Extends Export Obligations: A Boon for Chemical Sector Amid US Tariffs
India Challenges US Tariffs on Copper Under WTO Rules
Urgent Financial Relief for Textile Exports Amid US Tariff Hike
India's Textile Sector Navigates US Tariffs with Strategic UK Export Boost
Google News