India-US trade pact unlocks USD 118 bn textile market for Indian exports, says govt

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NEW DELHI, Feb 7: The landmark trade agreement between India and the US is set to open up America’s USD 118 billion global imports market of textiles, apparels and made ups, a “major opportunity” for India’s textile industry, the government said on Saturday. Notably, the US is the top market for India’s textile exports. The 18 per cent reciprocal tariffs on Indian textiles products including apparel and made-ups will not only remove the disadvantage that Indian exporters had, but would place them in a better position than most competitors like Bangladesh (20 pc), China (30 pc), Pakistan (19 pc) and…