Textile exporters see up to 50% drop in US business: Survey

Around 25% discounts offered to retain consumers

- FE BUREAU

INDIA'S TEXTILE AND clothing exporters have witnessed up to 50% drop in their US business due to the imposition of 50% duties by the Trump administration from August 27 with inventories piling up and orders getting delayed, according to an industry-wide survey.

The Confederation of Indian Textile Industry (CITI) said around one-third of the respondents in the survey have reported that the turnover of their US business has reduced by more than 50%. Around 85% of them have reported inventory buildup due to reduction in orders.