India Targets Global Textile Market Amid US Tariffs

India is exploring new markets across 40 countries to boost its textile exports, following a 50% tariff imposition by the US. The move aims to capitalize on free trade agreements and strengthen India's position in the global market, which is valued at USD 800 billion.

India is looking to expand its textile export markets to 40 countries after the US imposed a 50% tariff, Union Minister Giriraj Singh announced. The targeted countries collectively import nearly USD 600 billion in textiles, offering significant growth prospects for India's market share.

Singh highlighted efforts to leverage India's free trade agreements with 15 nations to increase textile exports. While continuing longstanding ties with the US, India plans to explore new markets during this transitional phase, assuring no job losses in the vital sector.

The textile industry faces challenges due to high US tariffs affecting exports worth USD 48 billion. Despite this, India remains the sixth-largest exporter globally, contributing 4.1% to the USD 800 billion textiles and apparel market, with projections of growth in the coming years.