India, Aug. 26 -- India's domestic readymade garment industry growth is expected to take a major hit this fiscal on account of the additional trade tariff that sets in on India from Wednesday. The US Customs and Border Protection (CBP) has issued a draft notice on the implementation of additional duties on products imported from India, according to which additional tariffs are being imposed to give effect to the President's Executive Order 14329 of August 6, 2025, titled "Addressing Threats to the United States by the Government of the Russian Federation"

According to Crisil ratings, the revenue growth of India's readymade garment (RMG) industry is set to nearly halve on-year this fiscal as the imposition of 50% tariffs by the US on its ...