Inside India newsletter: Tariffs and Iran war threaten India's $100 billion garments export goal
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U.S. tariffs and the Iran war have battered India’s garment industry, raising costs, hitting exports, and dashing hopes of a recovery.
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Monday - Friday, 11:00 - 12:00 SIN/HK | 0500 - 06:00 CET Inside India Inside India newsletter: Tariffs and Iran war threaten India's $100 billion garments export goal Published Wed, Apr 8 2026 8:06 PM EDT Priyanka Salve WATCH LIVE Key Points The Iran war has driven up raw material and packaging costs for India's textile industry. The sector is the country's second‑largest employer and supports more than 45 million jobs. A continued spike in global oil prices could dampen consumer demand in the U.S., prompting further cuts to production. In this article XAU= MANAPPURAM-IN MUTHOOTFIN-IN USB Follow your favorite stocks CREATE FREE ACCOUNT This report is from this week's "Inside India" newsletter, which brings you timely, insightful news and market commentary on the emerging powerhouse — Subscribe today Hello, this is Priyanka Salve, writing to you from Singapore. Welcome to the latest edition of " Inside India " — your one-stop destination for stories and developments from the world's fastest growing large economy. Just as India's textile industry was beginning to stabilize after U.S. tariffs, it received another blow. Industry leaders tell me the Iran war has raised costs, hit demand and sent workers fleeing, crushing hopes of a sustained recovery. Enjoy! Any thoughts on today's newsletter? Share them with the team. The big story In this photograph taken on September 23, 2025, employees work at a garment factory in Tiruppur, in India's southern state of Tamil Nadu. R. Satish Babu | Afp | Getty Images Indian textile exporters could be forgiven for thinking that U.S. President Donald Trump has them in his crosshairs. In August last year, Washington slapped a 50% tariff on Indian goods, making exports uncompetitive. Relief came months later, when rates were slashed in February, but it lasted barely a few weeks: Trump's subsequent war on Iran plunged India's textile industry into fresh turmoil. Ready-made garment companies were among the worst-hit by the U.S. tariffs, los...
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