Indian Entrepreneur: Sino-US Trade Friction Brings Opportunities to Indian Textile Industry

Release time:

2019-07-29

According to the Press Trust of India, Prabhu Damodaran, convener of the Indian Textile Entrepreneurs Federation, said on Saturday that the Sino-US trade friction has brought opportunities to the Indian textile industry.

He said that the total global textile exports are fixed at 260 billion US dollars. In the past five months, China's exports to the United States have dropped by 3% to 4%. Indian textile manufacturers must use this opportunity to make money.

Damodaran made the remarks after the opening of the second Indian National Textile Conference. He further said that Indian manufacturers must shift their focus to value-added products and large-scale garment manufacturing in the garment sector, which will help reduce the cost of basic commodity clothing.

"An increase of US $1 billion in exports will create 150000 new jobs for India." Damodalan said.

Earlier, according to Indian media reports, India has identified 151 commodities that can replace US exports to China. With the escalation of Sino-US trade frictions, relevant people in India believe that India is expected to profit from expanding exports to China by virtue of its price advantage. Indian officials said that the retaliatory tariffs being implemented by China and the United States provide an opportunity to increase India's exports to China.