India’s Textile Industry Eyes Optimism Amid US Tariff Shakeup
India remains well-positioned despite recent upheavals in the US tariff regime, according to Chandrima Chatterjee, Secretary General of the Confederation of Indian Textile Industry (CITI). The industry is closely watching developments after the US Supreme Court struck down a major part of President Donald Trump’s tariff agenda.
Supreme Court Blocks Previous Tariff Authority
On Friday, the Supreme Court ruled 6-3 that the law enabling the imposition of wide-ranging tariffs “does not authorize the President to impose tariffs.” Following the decision, Trump rolled out a new 10% global tariff across all trading partners. However, he exempted India under the current bilateral trade agreement, describing the pact as fair and balanced.
India Retains Competitive Edge
Speaking to ANI, Chatterjee said the Indian textile industry is assessing the impact of the global tariff. “We were at 18% vis-à-vis some of our competitors being at 19 or 20%. Even if that marginal competitive edge adjusts with the 10% global tariff, I think India is in a strong position,” she explained. Chatterjee stressed that bilateral negotiations should continue, helping Indian exporters gain advantages beyond tariffs, including technology exchange, increased investment, and collaborations to boost value-driven growth.
Optimism for the US Market
Chatterjee highlighted the significance of the US market, which accounts for 30% of India’s textile exports. She expressed confidence that the Supreme Court decision brings more predictability and stability to trade policy. “With uncertainty ebbing now, exporters should strengthen their base in the US and explore further growth opportunities,” she concluded.
The textile industry now looks forward to leveraging the bilateral trade framework, using the renewed policy clarity to expand exports and strengthen India’s position in the global market.
(This Article Has Been Syndicated From ANI)
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