The textile and apparel sector is India's second-largest employment provider, after agriculture, and it is now caught in a wave of uncertainty following the Donald Trump administration's tariff policy.
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
Tamil Nadu secured investments worth Rs 1.44 trillion on Monday by signing of memoranda of understanding (MoU) with 60 companies, laying of foundation stones and inauguration of new projects.
Indian companies feel it will be difficult to take on the competition from Bangladesh, Cambodia and others, with their made-in-India products. Ethiopia offers ready-to-use sheds, income tax breaks, training subsidies, and a tax-free gateway into the US, Europe and China. Moreover, labour is available for $60 per month compared to $130-$150 in India.
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