The Confederation of Indian Textile Industry (CITI) warmly welcomes the announcement by the US President, Mr Donald Trump, on a deal with Iran to end the conflict in West Asia and looks forward to an early return to normalcy in the region.

“The deal, once formally signed, will ease the geopolitical and geoeconomic uncertainties that the conflict had given rise to over the last three months, affecting the smooth movement of goods through the Strait of Hormuz and thereby impacting trade flows and energy security,” CITI Chairman Ashwin Chandran said.

“For India’s textile and apparel sector, this development comes as a shot in the arm. The turbulence in West Asia had affected raw material supplies, supply chains, and industrial energy, exerting huge pressure on the entire MSME-dominated textile and apparel industry that traditionally operates on narrow margins and where most entities lack the muscle to withstand prolonged financial shocks,” Shri Chandran added.

West Asia, especially the UAE, is a major market for India’s textile and apparel exports.

Chandran said the return to normalcy in West Asia will lend momentum to efforts to diversify India’s textile and apparel exports beyond select geographies. “The disruption-free opening of the Strait of Hormuz will allow us to more effectively leverage the benefits from the Free Trade Agreements (FTAs),” he pointed out.

India aims for $100 billion of textile and apparel exports by 2030.