India, US signal hope for tariff resolution

Textile exporters may move abroad...

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STATING THAT India-US relationship has value, he said the government would definitely look at how the (open) channels of communications are going "to build confidence and address challenges that are here right now." "In a partnership there are two sides and here both sides are looking at now to resolve the issues and then we will see how next we can move forward," he added.

The government is also discussing options to give succour to exporters to tide over the current crisis. While a meeting called by the commerce ministry with key export promotion councils was deferred, it may take place without any delay. The government has been urged to lend a helping hand to exporters, especially in sectors where large-scale job losses are feared.

In parallel, India is also planning dedicated outreach programmes in 40 countries, including the UK, Japan, and South Korea, to push textiles exports. Together, these countries represent more than $590 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share, which stands at just 5-6% now, according to industry sources.