India is intensifying efforts to expand its textile and apparel exports to 40 nations in response to the United States’ decision to impose a steep 50% tariff on Indian imports. Union Minister Giriraj Singh noted that these countries account for almost $600 billion in textile and apparel imports, giving significant opportunities for India to increase its market share.
Singh stated that New Delhi is actively leveraging its free trade agreements with 15 partner countries to boost exports. While appreciating decades of economic relations with the US, he stated that India will explore new markets while maintaining existing partnerships.
The minister described the textile industry as being in a “transit phase,” after previously being in a “comfort zone,” but assured that there will be no job losses. He emphasised India’s goal to compete globally in the $800 billion textile sector, where it currently holds a 4% stake with exports of $36 billion.
The US tariff is expected to affect more than $48 billion in Indian exports, including textiles, gems, jewellery, leather, chemicals, and machinery. India’s textile and apparel sector would be worth $179 billion in 2024-25, with $142 billion coming from the domestic market and $37 billion from exports.
