Why the trade backdrop favours innovation
The announcement comes as the sector recovers from one of its most challenging years. The August **** US tariff shock, which imposed a ** per cent duty on Indian textile exports, disrupted order books and weakened India**;s competitiveness.
Trade conditions have since improved. The February *, **** India-US Joint Statement reduced the reciprocal tariff to ** per cent, while a February ** US Supreme Court ruling lowered it to the ** per cent Section *** tariff from February **, currently due to expire around July **, ****. India**;s zero-duty agreement with the EU and the earlier UK trade deal have further expanded export opportunities.