Tamil Nadu: Chief Minister M.K. Stalin has written to Prime Minister Narendra Modi, urging him to resolve the impact of US tariffs on Indian goods through a bilateral agreement as soon as possible.
In this regard, Chief Minister M.K. Stalin sent a letter to the Prime Minister on Thursday: The imposition of a 50 percent tax on Indian goods exported to the US is exacerbating the crisis in Tamil Nadu’s export sector.
Tamil Nadu is the backbone of India’s textile and garment exports. It contributes 28 percent to the country’s textile exports and employs approximately 7.5 million workers. Tamil Nadu also contributes 40 percent to India’s leather goods and footwear exports, providing employment to over 1 million workers.
The current disruption in trade due to the US tariffs is not merely an economic setback; it is a significant challenge that will have immense social consequences.
In Tiruppur, India’s knitwear capital, exporters have suffered losses of ₹15,000 crore in confirmed work orders, forcing 30 percent of these companies to cut production.
Exporters in Tiruppur, Coimbatore, Erode, and Karur districts are facing daily revenue losses of ₹60 crore, pushing many small and medium-sized enterprises to the brink of closure.
The situation is equally dire for footwear manufacturing companies in Vellore, Ranipet, and Tirupattur districts.
This is leading to the loss of millions of jobs. International importers are outsourcing work to countries like Vietnam, Bangladesh, and Cambodia. This will have a serious and long-lasting impact on the future employment prospects of young people and women.
Therefore, the Chief Minister emphasized that resolving this tariff issue through a bilateral India-US agreement should be prioritized and addressed as soon as possible.
