In Tamil Nadu’s Tiruppur, garment exporters expect shipments to the US to double to about ₹30,000 crore in the next three years, following the recently announced India-US trade framework. Citing industry executives, the report said that the exporters believe the sector could likely generate nearly 500,00 additional jobs as orders and production expand.
The development comes after New Delhi and Washington, on 7 February, announced the finalisation of the framework for the first phase of the Bilateral Trade Agreement (BTA). Under the proposed agreement, both sides will be slashing import duties on a variety of goods to boost bilateral trade.
Welcoming the move, Tiruppur Exporters’ Association president KM Subramanian told PTI that the deal with the US assumes significance as it will provide Tiruppur, the textile town of Tamil Nadu, huge growth in the next five years. He further added that currently, the garment exports from Tamil Nadu are valued at ₹15,000 crore. This is expected to double over three years after the agreement. Subramanian further stated that the impact of the deal is likely to be seen in the next three months, following which he believed that they would be able to witness strong growth for India-made garments, which will be exported from Tamil Nadu’s textile hub.
