US Tariffs causing Rs.60 cr/day losses in tn: Stalin to pm
Chennai, Dec. 19 -- The 50% tariff imposed by the US is not merely an economic setback but a looming humanitarian challenge, Tamil Nadu chief minister MK Stain said on Thursday in a letter to Prime Minister Narendra Modi, citing difficulties among the export hubs in Tamil Nadu and sought an urgent bilateral resolution to the crisis.
In Tiruppur - considered the Knitwear Capital of India - exporters have reported a staggering wipe out of Rs.15,000 crore in confirmed orders, coupled with enforced production cuts of up to 30% across units, Stalin said.
"New orders are also drying up at an alarming rate. This has translated into a combined daily loss of Rs.60 crore in revenues for exporters in Tiruppur, Coimbatore, Erode and Karur districts, pu...
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