Gulf War Hits Indian Textiles: Import Costs Soar, Clothing Prices to Rise

• India's textile sector faces pressure from rising import costs due to the ongoing Gulf war.
• Steam coal, chemicals, dyes, and container shipment freight costs have significantly increased, impacting production.
• P.R. Kankaria, Director, Anupam Creation, warns that clothing prices could rise by up to 40% for consumers.
• The $220 billion industry employs 40 million people and is crucial for India's economy.
• Industry stakeholders seek government relief on raw materials, increased duty drawback, and FTA implementation.