India’s Textile Sector Set for Major Growth Following US Tax Reduction and EU Trade Agreement: Vice President
Salem, Tamil Nadu: Vice President C.P. Radhakrishnan has expressed confidence that India’s textile and industrial sectors are poised for significant growth due to recent international trade developments, including the reduction of US tax rates to 18 percent and the free trade agreement with European countries.
Speaking at the inauguration of the new academic block at the Indian Institute of Handloom Technology in Salem, the Vice President highlighted the vast opportunities these developments will create for the Indian textile industry. He stated that the free trade agreement with European nations would open new markets for Indian textile products and strengthen the country’s position in global trade.
Radhakrishnan noted that these measures would help Indian textile manufacturers compete more effectively with major textile-exporting nations such as China and Bangladesh. He emphasized that the textile sector, one of India’s largest employment generators, would benefit immensely from enhanced market access and improved export opportunities.
The Vice President also praised Salem for its rich handloom weaving tradition and its reputation as a leading textile hub. While acknowledging the city’s fame for mango production, he particularly commended the dedication and craftsmanship of local weavers who have preserved traditional weaving practices for generations. He stressed the importance of safeguarding this valuable heritage while embracing modern technologies and global standards.
Highlighting the initiatives of Narendra Modi, Radhakrishnan said that several development projects, including the Smart City Mission, have brought considerable benefits to cities across Tamil Nadu. He noted that these initiatives have contributed to infrastructure development and economic growth, creating a favorable environment for industries and businesses.
The Vice President further stated that the Union Government is implementing several measures to modernize the textile sector and equip weavers with the skills needed to meet international expectations. He urged textile professionals and industry stakeholders to make full use of the facilities and resources available at the institute to enhance their capabilities.
Radhakrishnan also suggested that efforts should be made to secure additional support from the Central Government to further strengthen educational and training facilities in Salem. Expressing optimism about the future, he said that continued government support, combined with the industry’s commitment to innovation and skill development, would drive substantial growth in the textile sector and improve the livelihoods of millions of weavers across the country.
