Reacting to the 50 per cent tariffs levied by the US administration on India’s crude oil purchases from Russia, Sudhir Sekhri, Chairman, AEPC, says, these tariffs are a huge setback to the labor-intensive apparel export industry and sound almost like a death knell for players in the Micro and Medium apparel industry, especially those who majorly sell to the US market.

A key market for Indian RMG exports, the US held 33 per cent share in India’s total garment exports in 2024. From 4.5 per cent in 2020, India’s share in the US garment import market grew to 5.8 per cent in 2024 with the country ranking fourth among the top RMG exporters to the United States, Sekri notes. He urged the Central Government to provide direct fiscal support to the industry.