There is a concern in the textile industry about the tariff installed by the US on Indian textile products. However, Union Textiles Minister Giriraj Singh says that the Government of India has made concrete preparations to deal with this challenge and new markets are being searched.

Talking to ABP News, Union Textiles Minister Giriraj Singh said, ‘American tariff may cause a shock to the textile industry, but this effect will be limited. Only 8 to 10 percent of Indian textile exports go to America and 5-7 big traders contribute 50 to 60 percent in it. In such a situation, it will not be right to say that the entire Indian textile industry will have a huge impact.

More demand for Indian clothes

He said that since the American Terif was imposed, the government has identified 40 new markets, where the demand for Indian clothes is much more than in America. This will provide alternative opportunities to the traders and it will be possible to compensate for the loss.

The Textiles Minister also reminded that the Indian textile industry had to face huge challenges during the Kovid-19 epidemic, but still the area stood back with stronger. This time too, we hope that the situation will soon become normal and the industry will perform better.

It is necessary to protect the interests of traders

Giriraj Singh also reacted to the allegations of the opposition. He said that Tamil Nadu Chief Minister M.K. Stalin and other leaders should understand that the responsibility is not only of the Center. If the states get the benefit of tax from textile trade, then they should also come forward to protect the interests of traders.

Significantly, the US has recently announced a 50 percent tariff on Indian products and the areas where the most affect will be affected is textile and textile industry. Experts believe that Indian exporters may suffer losses in competition. However, the government claims that India’s textile industry is so diverse and big that it will compensate for this loss through new markets.

Also read:- The scam in which KCR got trapped and daughter Kavita was expelled from the party!