TIRUPPUR: Chief Economic Adviser (CEA) to the union government V Anantha Nageswaran on Thursday said the recent tariff hike by the US is a temporary measure and urged exporters to remain positive.
Nageswaran, along with Neelkanth Mishra, chief economist of Axis Bank and member of the economic advisory council, inspected knitwear units and held discussions with exporters.
Praising Tiruppur’s contribution to nation’s exports, Nageswaran said, “The tariff hike is worrying. However, it is a temporary one. Exporters should remain positive.”
During the discussions, Tiruppur Exporters’ Association president KM Subramanian said knitwear exports from the district touched Rs 44,000 crore in 2024-25, accounting for 68% of India’s total exports.
He added that while the FTA with the UK is expected to boost sales by 10%, achieving the Rs 1 lakh crore target by 2030 would require over 15% growth annually, which the US tariff hike threatens to derail.