Talks on with US for concessional access for textile goods, says govt
The Indian government is negotiating with the U.S. to secure concessional access for textile exports following the imposition of new 10% tariffs related to forced labor investigations. Officials emphasized that 45% of India's exports remain exempt from these duties and noted that India faces lower tariff rates compared to other affected nations.
Why it matters
This development highlights ongoing trade tensions between India and the U.S. and underscores the economic impact of U.S. trade policy on India's critical textile and manufacturing sectors.
NEW DELHI: Govt said Saturday that it is engaged with the US on a mechanism for concessional access for Indian textile goods, while maintaining that 45% of exports are outside the ambit of US tariffs and drawing comfort from "lower tariffs" on India."As a result of these sustained efforts, India has been placed in the lower tier of additional tariffs under the final measures, providing a relative advantage to Indian exports in key sectors," the commerce department said in a statement a day after the US imposed a new 10% tariff on India and 16 other countries for failure to check the import of goods using forced labour.
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