New Delhi, May 20 (KNN) With the ongoing trade war between US and China, textile exporters in India are optimistic that the additional tariff of 25 per cent imposed by the US on China has opened up the trade opportunities for India.

According to Confederation of Indian Textile Industry (CITI) analysis, the list of notified $ 200 billion imports from China on which additional tariff imposed by the US places Indian textile exporters at an advantageous position.

 

Of the $200 billion of imports from China, textile items comprise just $ 3.9 billion of the value, but it still provides enough scope to exporters in India, said Sanjay Jain, Chairman of CITI.

 

Whereas, USA’s total imports of these textile products from India is approximately US$ 1.71 billion in 2018, which is 43% of USA’s imports from China. Out of the total textile products, cotton textiles account for the largest number of tariff-lines (520 at 10 digit level), he added.

 

In terms of value, the most imported products belong to floor coverings, nonwoven cordage and manmade filaments, Jain pointed.

 

He stated that the additional tariff hike does not include garments and made-ups segments which means that there will be no additional advantage for the apparel & made-ups exporters from the above development.

 

Jain felt that the above-mentioned additional tariff hike provides an opportunity for the Indian Textile Industry to increase its exports to USA, particularly for the products belonging to the categories; cotton textiles, floor coverings, and manmade filaments.

 

Published On : 20-05-2019

 

Source : Knn India