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US trade deal unlocks $118 billion American textile market

News Snapshot:

As India and the US announce that they have reached an interim trade framework, it opens up a $118 billion US global imports market of textiles, apparels and made-ups, a “major opportunity” for the country’s textile industry, as per the government. With the US being India’s largest export destination of around $ 10.5 billion exports, comprising around 70 per cent apparel and 15 per cent made-ups, the Textiles Ministry has welcomed the landmark agreement between both the nations as a major catalyst enhancing textile trade relations. The textile industry said the deal was a major economic game changer for the…

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