India is looking to expand its textile exports to 40 countries after US imposed 50% tariff on Indian imports, Union minister Giriraj Singh said on Tuesday.The minister said that these 40 countries represent nearly $600 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share. He also added that efforts are underway to leverage India’s free trade agreements with 15 nations as key avenues for boosting textile exports. “It is true that we were working with the US for several decades. Going ahead, we will work with them if things work out fine (Aage bhi baat banegi toh kaam karenge). But we will also search new markets,” Singh said, as quoted by PTI. Acknowledging the current challenges, he admitted that the sector is in a “transit phase,” having previously settled into a comfort zone. However, he assured that there will be no job losses in textiles, India’s second-largest employer after agriculture. “India will compete in America and also for the $800 billion market for textile exports globally. We are only able to contribute around 4% of the $800 billion with our exports at $36 billion,” Singh noted. The steep 50% tariff, in effect since 27 August, is expected to affect exports worth over $48 billion. Key sectors impacted include textiles and clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery. In 2024-25, the overall textile and apparel sector is estimated at $179 billion, comprising a domestic market of $142 billion and exports of $37 billion, PTI reported. Globally, the textiles and apparel import market was valued at $800.77 billion in 2024. India, accounting for a 4.1% share of world trade, ranks as the sixth-largest exporter and has established its footprint across 220 countries.
