NEW DELHI: In a significant development for international trade, Union Textile Minister Giriraj Singh indicated on Friday that India and the European Union are poised to announce a comprehensive trade deal within the next four days. This announcement came during his address at the India International Garment Fair, where he also urged the domestic textile industry to diversify its operations to further boost garment exports.
Garment Exports Show Resilience and Growth
Drawing comfort from recent trade performance, Minister Singh addressed concerns about global economic challenges. He stated, "Many believed that Indian exports would fall due to the ongoing tariff wars. The industry was understandably worried... However, despite the storm, we have remained stable and resilient. The world market is wide open for us, and we must seize this opportunity."
Impressive Export Figures and Market Diversification
While inaugurating the fair, Singh highlighted the positive trajectory of India's garment exports. He revealed that exports have increased from approximately Rs 95,000 crore (around $11.3 billion) during the April to December 2025 period to Rs 1,01,000 crore (about $11.6 billion). He attributed this growth largely to strategic market diversification efforts.
Key export destinations that have shown remarkable growth include:
- Argentina, with a staggering 77% rise in exports
- Egypt, recording a 30% increase
- Poland and Japan, each showing 20% growth
- Sweden, UAE, and France, with 10% growth each
- Spain and Germany, each experiencing a 5% increase
Singh emphasized that the identification of 40 new export destinations has played a crucial role in this expansion, helping to mitigate risks associated with over-reliance on traditional markets.
Political Counter to Rahul Gandhi's Claims
The minister's comments came in response to Congress leader Rahul Gandhi's recent social media post, in which he claimed that the imposition of 50% tariffs by the United States has severely crippled India's textile sector. Singh strongly refuted these allegations, telling reporters, "This isn't a shutdown... Rahul Gandhi, stop speaking against the country. It's a shutdown of your mind, not an industry shutdown."
He accused the opposition lawmaker of making misleading claims that do not reflect the ground reality of the textile industry's performance. Singh asserted that the sector is not only surviving but thriving, as evidenced by the export growth figures he presented.
Call for Industry Adaptation and Innovation
Looking ahead, the textile minister urged industry stakeholders to focus on diversification and innovation to capitalize on emerging global opportunities. He stressed that with the impending India-EU trade deal, new avenues for export growth will open up, requiring the sector to be agile and forward-thinking.
Singh's optimistic outlook underscores the government's confidence in the resilience of India's textile industry, even amidst global trade tensions and political criticisms.
