India-US Trade Deal Propels Textile Industry to New Heights

India and the US have reached a significant trade deal lowering tariffs from 25% to 18%, giving a decisive boost to India's textile industry. This move is expected to enhance export competitiveness, unlock new global opportunities, and create jobs in labor-intensive sectors.

The India-US trade deal is hailed as a 'decisive boost' for India's textiles sector, Union Minister Giriraj Singh announced, highlighting its potential impact on export competitiveness and job creation. Lower tariffs are expected to create quality jobs in labor-intensive sectors, with the US being India's largest textiles export market.

A key element of the trade agreement includes reducing reciprocal tariffs on Indian goods to 18% from 25%. President Donald Trump confirmed this development following a conversation with Prime Minister Narendra Modi, marking a step forward for both nations' economic ties. The full details are yet to be disclosed.

The textiles industry has welcomed the accord, predicting a significant competitiveness enhancement for Indian textile and apparel products. Leaders in the industry emphasize the improved trade terms' potential to rejuvenate export competitiveness in the US market, allowing factories to optimize production and support job recovery.

(With inputs from agencies.)