In a crucial meeting held in New Delhi, Shri Sudhir Sekhri, Chairman of the Apparel Export Promotion Council (AEPC), and Shri Vijay Agarwal, Chairman of TEXPROCIL, met with Shri Piyush Goyal, Hon’ble Minister of Commerce and Industry. The meeting aimed to discuss the proposed India-US Bilateral Trade Agreement and the potential impact of reciprocal tariffs on India’s textile and apparel exports to the United States.
Recent reports have suggested that reciprocal tariffs of up to 26% may be imposed after the July 9 deadline. This move could significantly affect India’s textile and apparel exports, which are a vital part of the country’s economy. The apparel and home textiles sectors are among the leading export categories to the US, and any tariff hike would disproportionately impact these industries.
The Chairmen of AEPC and TEXPROCIL expressed deep concern over the potential ramifications of the tariff hike on the labour-intensive textile and clothing sector. This sector is a major contributor to India’s export economy and employment, particularly in MSME segments and rural employment clusters. A decline in exports and subsequent job losses could have far-reaching consequences for the country.
The Hon’ble Minister of Commerce and Industry gave a patient hearing to the concerns raised by the Chairmen. He assured the delegation that the Government is committed to protecting labour-intensive sectors during the ongoing negotiations under the India-US Bilateral Trade Agreement. The Minister reiterated that all necessary steps would be taken to ensure that India’s interests, especially those of vulnerable sectors like textiles and apparel, are safeguarded.
The meeting reflects the Government’s proactive approach in engaging with stakeholders and underscores its commitment to ensuring the sustained growth and global competitiveness of India’s textile and apparel sector. The Government’s efforts to protect the interests of the textile industry will likely have a positive impact on the sector’s growth and development.
The meeting between the AEPC Chairman, TEXPROCIL Chairman, and the Commerce Minister highlights the Government’s commitment to supporting the textile and apparel sector. As the India-US Bilateral Trade Agreement negotiations continue, it is essential for the Government to prioritise the interests of labour-intensive sectors like textiles and apparel. By doing so, the Government can ensure the sustained growth and global competitiveness of India’s textile and apparel sector.
N.Kumaran
