An Exciting New Era of Growth Awaits the Indian Textile Industry
- Dr Ashok Barthwal
- 5 days ago
- 1 min read
The India-US Bilateral Trade Agreement is set to usher in an exciting new era for the Indian textile industry, paving the way for unprecedented growth and opportunity. This partnership promises to unlock a wealth of potential, transforming the textile landscape and enhancing global competitiveness. This trade deal not only opens access to the impressive US market of 113.76 billion dollars but also enhances our export competitiveness by significantly reducing tariffs.
Union Minister of Consumer Affairs Pralhad Joshi recently shared on social media that the ready-made garments, carpets, and textile sectors are on the brink of substantial growth. This significant milestone, achieved under the leadership of Prime Minister Narendra Modi, will enhance India's status as a global textile powerhouse, driving innovation and opportunity in this dynamic industry.
In a compelling video statement shared on Twitter, Rahul Gandhi, the Leader of the Opposition in Lok Sabha, warned that the new US trade deal poses a significant threat to the Indian textile industry. He emphasized that the rise of the Bangladesh textile industry could lead to the decline of India’s own sector. Gandhi called on the central government to reconsider the implications of the interim India-US Trade Agreement, highlighting the urgent need for protective measures to safeguard local jobs and production.
