Trump's Return Sparks Optimism Among Indian Textile Exporters

ENA Sectors 2024-11-18 15:50:24 New Delhi, Nov 18 (KNN) Indian textile and apparel (T&A) exporters are optimistic about Donald Trumps return to the White House, with expectations that his plans to reduce U.S. reliance on Chinese imports will boost opportunities for Indian suppliers. Trumps second term, set to begin next year, coincides with political instability in Bangladesh—a key competitor in global textile exports—and growing interest among major fashion brands in diversifying their supply chains. With the new administration, the Indian T&A industry is optimistic about expanding its role as an alternative supplier to China, said Rakesh Mehra, chairman of the Confederation of Indian Textile Industry (CITI). The U.S. remains a crucial market for Indian textiles, contributing 27 per cent of the sectors exports in 2023. Recent data underscores Indias improving position: in October 2024, textile exports climbed 11.56 per cent year-on-year, while apparel exports surged by 35.06 per cent. Between April and October 2024, total T&A exports to the U.S. rose 7.08 per cent compared to the same period last year, outpacing competitors like China (2 per cent growth), Vietnam (0.4 per cent), and Bangladesh, which saw a 2.2 per cent decline. This performance highlights Indias growing appeal to U.S. buyers, Mehra noted, attributing the trend to India's enhanced reputation as a reliable and quality-focused supplier. However, he flagged high U.S. tariffs—reaching up to 32 per cent on certain apparel items—as a major hurdle. CITI is hopeful the Trump administration will work with India to revise tariffs, solidifying our position in the market, Mehra added. The Apparel Export Promotion Council (AEPC) shares the optimism. Its chairman, Sudhir Sekhri, pointed to Indias increasing penetration into markets with free trade agreements, such as South Korea, Japan, and Australia. International buyers increasingly view India as a stable alternative to Bangladesh and China, Sekhri said. AEPC secretary-general Mithileshwar Thakur emphasized the need for continued investment in training, funding, and infrastructure to counter rising costs and trade disruptions. With these measures in place, experts believe Indian exporters could further capitalise on the shifting dynamics of global trade during Trumps second term. (KNN Bureau) 39950 https://knnindia.co.in/news/newsdetails/sectors/trumps-return-sparks-optimism-among-indian-textile-exporters 2024-11-18 15:50:24 knnindia.co.in Trump's Return Sparks Optimism Among Indian Textile Exporters