US Tariffs to Slash Indian Exports by 30%? GTRI Sounds Alarm
New US tariffs threaten to decimate Indian exports, with projections indicating a potential 30% decline. The looming threat casts a long shadow over key sectors.
Garments, textiles, jewellery, shrimp, and engineering goods are expected to bear the brunt of these punitive measures. Businesses across these sectors are bracing for a significant downturn.
The Garment and Textile Research Institute (GTRI) has proposed a comprehensive mitigation plan to counter the impact. The plan addresses the challenges posed by rising global protectionism.
The GTRI’s plan focuses on diversification of export markets and enhancing competitiveness. It also calls for government support and industry collaboration.
This development underscores the growing challenges faced by Indian exporters in an increasingly protectionist global landscape. The impact could ripple through the economy, affecting millions of livelihoods. The government’s response and the effectiveness of the GTRI’s plan will be crucial in mitigating the potential damage.
