Trump’s Election Expected to Strengthen Indian Textile Trade with USA: CITI
11th Nov 2024 New Delhi: The Confederation of Indian Textile Industry (CITI) welcomes the election of Donald J. Trump as President of the United States, anticipating that it will bolster India’s textile and apparel (T&A) trade with its largest international market. In 2023, the U.S. accounted for approximately 27% of India’s total T&A exports, underscoring its crucial role in the industry’s global 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 outpaced the growth rates of key competitors, with China at 2%, Vietnam at 0.4%, and Bangladesh recording a decline of -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 emphasized that President Trump’s previous administration focused on reducing dependency on China by diversifying trade sources, a stance that aligns with India’s aspirations to strengthen its position in the U.S. market. “With the new administration, the Indian T&A industry is optimistic about expanding its role as an alternative supplier to China,” he stated.
However, a significant barrier remains in the form of high tariff rates, which for certain apparel categories can reach up to 32%. This, according to Shri Mehra, restricts India’s ability to further increase its market share.
“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. This could catalyze a new phase in India-U.S. textile trade relations, providing a valuable alternative to China for American retailers and consumers alike” cited Shri Mehra.
Recent Posts
- Cir(087)/2024-November 12,2024 November 12, 2024
- Webinar on Innovation Projects under Project Appraisal & Monitoring Committee (PAMC) November 12, 2024
- Trump’s Election Expected to Strengthen Indian Textile Trade with USA: CITI November 11, 2024
- CITI Partners with Fair Wear Foundation leverage proposed legislative changes in the EU for Indian T&A Exporters November 6, 2024
- Cir(086)/2024-October 28, 2024 October 28, 2024
Archives
- November 2024 (4)
- October 2024 (7)
- September 2024 (9)
- August 2024 (16)
- July 2024 (13)
- June 2024 (21)
- May 2024 (7)
- April 2024 (13)
- March 2024 (9)
- February 2024 (13)
- January 2024 (15)
- December 2023 (7)
- November 2023 (10)
- October 2023 (3)
- September 2023 (8)
- August 2023 (5)
- July 2023 (10)
- June 2023 (11)
- May 2023 (19)
- April 2023 (16)
- March 2023 (17)
- February 2023 (16)
- January 2023 (14)
- December 2022 (11)
- November 2022 (9)
- October 2022 (11)
- September 2022 (13)
- August 2022 (13)
- July 2022 (15)
- June 2022 (13)
- May 2022 (6)
- April 2022 (3)
- March 2022 (1)
- February 2022 (1)
- January 2022 (1)
- December 2021 (1)
- November 2021 (1)
- October 2021 (2)
- August 2021 (4)
- July 2021 (1)
- March 2021 (1)
- February 2021 (2)
- January 2021 (2)
- November 2020 (2)
- October 2020 (1)
- September 2020 (2)
- August 2020 (1)
- June 2020 (1)
- May 2020 (2)
- March 2020 (3)
- February 2020 (3)
- September 2019 (2)
- August 2019 (1)
- July 2019 (1)
- May 2019 (3)
- April 2019 (1)
- March 2019 (3)
- February 2019 (3)
- January 2019 (4)
- December 2018 (1)
- November 2018 (2)
- October 2018 (1)
- September 2018 (3)
- August 2018 (3)
- July 2018 (7)
- March 2018 (1)
- January 2018 (13)
- November 2017 (3)