Chief Minister Devendra Fadnavis assured investors recently that Maharashtra is prepared to navigate global economic challenges, including the tariffs imposed by the Trump administration. Speaking at the India Global Forum summit in Mumbai, Fadnavis noted that the impact of these tariffs on the state would be “moderate” but highlighted a significant opportunity for sectors such as textiles and apparel, where Maharashtra has a strong presence. “From the state’s perspective, the US tariffs present a major opportunity for industries like textiles,” Fadnavis said during the summit.
Speaking to the media on the sidelines of the event, Fadnavis further added, “In certain sectors, the tariffs will hit us, but overall, there is a business opportunity being presented to Maharashtra due to these tariffs. We are trying to assess this opportunity and move forward in that direction.”
According to exports, US tariffs, imposed on 2 April, have given certain segments in India, including the textile industry, a relative advantage with rivals such as Vietnam, Bangladesh, and China facing higher tariffs. Maharashtra is one of the textile hubs of India, contributing 10 percent to the country’s total textile industry.
According to Union Government estimates, India’s textile exports have already reached Rs 3 lakh crore, and the goal is to triple this to Rs. 9 lakh crore by 2030. The sector holds a 4.5 percent share in global trade, with the United States and European Union accounting for 47 percent of India’s textile and apparel exports. India is the sixth largest exporter of textiles globally.
