Monday, August 17
Mumbai: Just as Indian apparel factories began production for the next US fall-winter season, a looming threat of a 500% tariff risks derailing capacity utilisation."Buyers who were earlier considering shifting some orders to India no longer want to come. They have started writing to us, asking what happens if this 500% tariff is imposed, who will take the guarantee," said Vijay Agarwal, chairman of the Cotton Textiles Export Promotion Council.The industry is already under pressure after the US imposed 50% tariffs on India last August, marked by deep discounts, diversion of idle capacity to domestic brands and rerouting of export orders through neighbouring countries. On Wednesday, US senator Lindsey Graham said President Donald Trump has given the go-ahead for a Bill proposing 500% tariff
