CITI Welcomes US-Iran Peace Deal, Expects Relief for India’s Textile Industry
The Confederation of Indian Textile Industry (CITI) has welcomed the proposed agreement between the United States and Iran aimed at ending tensions in West Asia, expressing optimism that the development will help restore stability to global trade and support India’s textile and apparel sector.
CITI Chairman Ashwin Chandran stated that the agreement, once formally finalized, is expected to reduce geopolitical and economic uncertainties that have disrupted international trade over the past few months. The conflict had impacted the smooth movement of goods through the Strait of Hormuz, creating challenges for global supply chains and energy security.
According to Chandran, the easing of tensions will provide significant relief to India’s textile and apparel industry, which has faced rising costs and supply chain disruptions due to instability in the region. The sector, largely driven by micro, small, and medium enterprises (MSMEs), has been particularly vulnerable to prolonged market uncertainties and fluctuations in energy prices.
West Asia remains an important export destination for Indian textiles and apparel, with the United Arab Emirates (UAE) serving as one of the key markets. Industry stakeholders believe that improved regional stability will strengthen trade relations and support export growth.
Chandran also highlighted that the normalization of trade routes through the Strait of Hormuz will enable Indian exporters to better capitalize on opportunities arising from various Free Trade Agreements (FTAs), helping diversify exports into new markets.
India has set an ambitious target of achieving $100 billion in textile and apparel exports by 2030, and industry leaders view the proposed US-Iran agreement as a positive step toward creating a more favorable global trade environment for achieving this goal.