New Delhi , 9/8: The Indian textile industry has started facing the heat of US tariffs. With the first tranche of 25% tariffs coming into effect on August 7, the US buyers of textile goods from India have paused lifting goods and have also put on hold new orders.
Experts and industry executives DH spoke to, underscored the distress this has created in the sector.Textile majors like Gokaldas Exports are exploring diversification options, including building manufacturing facilities across continents and exploring newer markets. They are also hoping that the Free Trade Agreement (FTA) with the UK will come to their rescue.
