New Delhi, Feb 7: The US trade agreement framework represents a historic milestone for India’s textiles and apparel sector, industry leaders said on Saturday.
AEPC welcomes India-US joint statement
On behalf of the entire textile and apparel industry, Dr A Sakthivel, Chairman of the AEPC (the official body of apparel exporters in India), welcomed the India-US joint statement on the trade deal.
India poised to emerge as preferred sourcing hub
“The coming decade is poised to be India’s decade in textile trade, as the country emerges as one of the most preferred sourcing destinations for global buyers,” he said in a statement.
According to Sakthivel, the India-US trade agreement creates immense opportunities across the entire textiles value chain and is expected to generate substantial employment, particularly for women and MSMEs. Farmers in rural India will also benefit significantly, reinforcing inclusive and sustainable growth.
Tariff relief to boost global competitiveness
“The tariff eliminations and enhanced market access arising from this agreement will greatly strengthen the global competitiveness of the Indian textiles and apparel sector, firmly establishing India as the most reliable and trusted sourcing hub worldwide,” he noted.
This will also address the issue of non-tariff barriers to trade and reduce the compliance burden and procedural delays, leading to faster movement of goods to the US market.
Golden era ahead for textiles and apparel
“This decade will undoubtedly usher in a golden era for the Indian textile and apparel sector,” said the AEPC Chairman.
FIEO hails finalisation of trade deal
The Federation of Indian Export Organisations (FIEO) earlier hailed the finalisation of the India-US trade deal.
Sectors such as engineering goods, textiles and apparel, pharmaceuticals, chemicals, leather products, gems and jewellery, and agricultural products are expected to gain significantly from the tariff rationalisation.
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SC Ralhan, President, FIEO, had said that the agreement would enhance the competitiveness of Indian products in the US market and provide a strong impetus to India’s export growth across sectors. Lower tariffs will not only improve price competitiveness but also help Indian exporters integrate more deeply into US supply chains.
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