The loss incurred due to the imposition of reciprocal tariffs on Indian textile exports to the United States (US) may be offset by a surge in exports to the United Kingdom (UK), buoyed by the recently concluded India-UK Free Trade Agreement (FTA), said CareEdge Ratings in a report.
Pratik Mathur, Consul General of India in Shanghai, on Wednesday visited the India Pavilion of the Yarn Expo Spring 2025 and interacted with exhibitors to discuss ways to further boost Indian textile exports to the region.
Despite unfavourable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian textile exports grew by 9.59 per cent compared to the previous year in May 2024, the Confederation of Indian Textile Industry (CITI) said in a report.