Apparel industry lauds India-US interim trade agreement, call it "father of all deals"

Jaipur (Rajasthan) [India], February 9 (ANI): Chairman of the Apparel Export Promotion Council, A Sakthivel, hailed the India-US interim trade agreement as a landmark moment for the Indian apparel industry, which has been struggling under US tariffs.
Speaking to ANI on Sunday, he noted that the sector had been facing significant challenges over the past six months due to 25% US tariffs, which had caused considerable turmoil among exporters.
"This is a big moment for the Apparel sector. We call it the father of all deals. We have been in turmoil for the past six months due to 25% penalties. The moment a saturation point was reached, this deal was announced. This is a win-win situation for both countries. This deal took time because our government wanted to safeguard the interests of our citizens, especially farmers," A Sakthivel said.
KM Subramanian, President of the Tirupur Exporters Association, echoed the sentiment and expressed his enthusiasm for the "historic deal."
"We are very happy with this historic deal. We do around Rs 14,000 crores in business with the American market. This will get doubled within three years. This deal will also increase employment and foreign exchange," he told ANI.
Earlier on Sunday, Union Minister of Commerce and Industry Piyush Goyal emphasised that the interim trade agreement between India and the US is not merely a commercial pact but a cornerstone of a major geopolitical shift.
Speaking exclusively to ANI, Goyal said the agreement reflects the broader depth of the India-US partnership, which spans defence, technology, critical minerals and strategic cooperation. Goyal emphasised that while trade is the vehicle, strategic alignment is the destination. The deal is designed to "cement" a partnership that is already flourishing across several high-stakes domains.
The United States and India announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, reaffirming their commitment to a broader Bilateral Trade Agreement (BTA) launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.
As part of the framework, India has agreed to eliminate or reduce tariffs on all US industrial goods and a wide range of US agricultural and food products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
On the other hand, the United States will impose a reciprocal tariff of 18 per cent on goods originating in India, including textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal goods and certain machinery. Subject to the successful conclusion of the Interim Agreement, the US has said it will later remove reciprocal tariffs on select items, including generic pharmaceuticals, gems and diamonds, and aircraft parts. (ANI)