New Delhi, Sept. 2 -- The recent hike in US tariffs on Indian apparel imports has triggered a severe crisis for Noida's textile industry, threatening businesses and jobs.
On August 27, tariffs were raised from 12 per cent to 50 per cent, bringing exports to a near standstill.
"Even before this, we were selling at discounts just to clear stock. But now new orders have stopped," said Lalit Thukral, President of Noida Apparel Export Cluster, reported Indian Express.
His firm, Twenty Second Miles, employs around 5,000 workers. He warned that if conditions persist, "a quarter of factories will shut within months, costing lakhs of livelihoods."
The industry's dependence on the US is evident. Apparel exports from India are valued at USD 16 b...
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