Chennai, Feb. 3 -- The Tamilnad Mercantile Bank (TMB) on Tuesday saidthe recent India-US trade agreement, which has led to a significant rollbackof punitive tariffs and reduced US duties on Indian goods to a more competitivelevel, is a watershed moment for export oriented sectors like textiles andapparel.
Indian Textile exports to the US were under pressure due to the tariff overhang,impacting clusters such as Tiruppur and other MSME hubs, TMB MD and CEOSalee Nair said in a statement here.
"With these barriers now easing, we expect a revival in export demand, healthierorder pipelines and improved pricing power for exporters", he said.
This is likely to translate into higher working capital requirements, capacityexpansion and greater dema...