Tiruppur, Aug. 27 -- Exporters in Tiruppur, India's largest knitwear hub, fear a severe blow from the newly imposed50% tariffs on Indian textile exports to the United States.
The sharp increase, which doubles the existing duty, could result in the loss of nearly1.5 lakh jobsand cause a revenue setback of aboutRs 12,000 crore.
In the past few days, exporters rushed to dispatch goods worthRs 400-500 croreahead of the tariff deadline. Typically, the Tiruppur cluster exportsRs 1,200-1,500 crore worth of garments every monthto the US, highlighting the scale of the disruption that lies ahead.
Industry leaders warn that these measures may force many units to scale back or halt production. With nearly45% of Tiruppur's exports dependent on the ...
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