US tariffs on Indian textiles spike: What's the impact
The US just raised import tariffs on Indian textiles—jumping to 25% on August 7, and set to rise to 50% on August 27.
This has led to fewer orders from American buyers, with many asking Indian exporters to share the tariff hike burden.
The industry is urgently asking the government for cash flow support and loan relief so jobs can be saved and the sector can stay afloat.
India is now pushing for faster trade deals with UK, EU
Since the US buys about a third of India's ready-made garments, this tariff spike is a big deal.
The industry is now pushing for faster trade deals with the UK and EU, plus bringing back schemes that make exports cheaper.
The Ministry of Textiles has also set up four committees aiming to help India hit $100 billion in textile exports by 2030—even as global trade gets tougher.