India, Sept. 8 -- Shortly after the US confirmed a total of 50% duties on Indian goods August 27, RK Sivasubramaniam, a garment exporter based in Tamil Nadu's Tiruppur, received an email from his buyer in New York that they can pay only 10% of the levy.
"The buyer asked me to bear the remaining amount. If I can't, they want to cancel the order. This is from my major buyer to whom I ship half a million pieces every month," said Sivasubramaniam, the managing director of Raft Garments.
A second generation businessman, Sivasubramaniam exports underwear for men and women. Around 50% of his output goes to the US, 20% to the European Union, 10% to the West Asia and 20% to the domestic market in India. He employs 400people.
Sivasubramaniam is ...
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