US-China war can benefit Indian textile sector
The imposition of tariffs on China’s textiles has created an opportunity for Indian textile manufacturers, according to a report by the Confederation of Indian Textiles Industry (CITI). The tariff hike by the United States on US$ 200 billion worth of imports from China includes textiles-related chapters 50 and 60. India’s exports to the US under these chapters were recorded at US$ 1.71 billion in 2018.
India can now fill the void in the US market by exporting cotton, floor-coverings and man-made filaments. “We must grab this opportunity to increase our share of textile exports to the US,” CITI chairman Sanjay K Jain stated in a press release.