Panipat’s Textile Dream Snagged by Trump’s Tariff Trap
Panipat, a city synonymous with India’s textile prowess, faces a significant setback. Sixty percent of its exports are destined for the US market.
US President Trump’s newly imposed 50% tariff on Indian goods is a major blow. The tariff, ostensibly a penalty for importing Russian oil, will drastically inflate prices.
This price hike threatens to cripple Panipat’s textile exports. Sales are expected to plummet, impacting thousands of livelihoods.
The new tariff places Indian exporters at a severe disadvantage. Competitors like China and Bangladesh face significantly lower tariffs.
Panipat’s textile industry is now scrambling to diversify its export markets. The search for alternative buyers is crucial to survival.
This development underscores the vulnerability of India’s export-oriented industries to global geopolitical shifts. The impact on employment and the wider economy demands immediate government attention and strategic intervention.
