US tariffs on Indian textiles soar to 50%: Exports hit
A sharp increase in US tariffs on Indian textiles—now up to 50%—has made exports way more expensive, sparking real worries about massive layoffs across the industry.
Smaller exporters, who make up most of the sector, are especially vulnerable and could face closures if things don't change.
Small exporters can't absorb higher costs
Sudhir Sekhri from the Apparel Export Promotion Council shared that most small exporters can't absorb these higher costs.
With buyers now turning to countries like China (where tariffs are much lower), thousands of jobs in India could be on the line.
Major companies also affected
Even major companies like Gokaldas and Arvind aren't immune—they're spending crores extra just to keep US clients happy.
Industry leaders warn that if these tariffs stick around, factory shutdowns and mass unemployment could follow.
Exporters eye new markets, call for government intervention
Exporters are eyeing new markets in Europe and the UK while hoping for relief.
For now, many are calling on the government to step in and help protect both businesses and jobs during this tough stretch.