New Delhi, Aug. 26 -- Revenue growth of India's readymade garments is set to decline massively this fiscal as the imposition of 50 per cent tariff by the US on its imports from India become effective from 27th August 2025 as per the Crisil report.
The 'Ready-Made Garments (RMG)' market is a market for clothing that is manufactured in factories to standard sizes and sold in retail stores. This sector is a major part of the global textile industry with an emphasis on the production of garments for both domestic and traditional markets.
The Crisil report noted, " Weaker revenue growth and tariff-driven competitive disadvantage in the US will impact the profitability of Indian manufacturers. Profitability of RMG exporters dependent on the US ...