New Delhi: In anticipation of strengthening India’s textile and apparel (T&A) commerce with its biggest overseas market, the Confederation of Indian Textile Industry (CITI) applauds Donald J. Trump’s victory as US president. The United States was responsible for India accounts for over 27% of all T&A exports, highlighting its vital role in the industry’s worldwide reach.
CITI Chairman Shri Rakesh Mehra highlighted the positive trend in exports to the U.S., noting, “In the current financial year, India’s T&A exports to the U.S. during April-August increased by about 6% compared to the same period last year. This exceeded the rates of development of the main rivals, with China at 2%, followed by Vietnam at 0.4% and Bangladesh at -2.2%. India’s enhanced performance signals its growing preference among U.S. buyers and highlights its increasing share in this critical market.”
Shri Mehra underlined that the previous government of President Trump prioritised diversifying trade sources in order to lessen reliance on China, a strategy that is consistent with India’s goals to improve its standing in the American market.Under the new government, the T&A sector in India is hopeful about growing its position as a substitute supplier to China,” he said.
High tariff rates, which may reach up to 32% for some clothing categories, continue to be a major obstacle. Shri Mehra claims that this limits India’s potential to grow its market share even more.
“CITI is hopeful that the new government will work closely with India to facilitate revisions in tariffs, thus positioning India as a key supplier of quality textile and apparel products to the U.S. India-US textile trade ties may enter a new phase as a result, offering a useful substitute for China for American retailers and consumers alike” cited Shri Mehra.