Jai Siya Ram
The Mission: “Operation Mission 40”
- In response to the U.S. implementing a 50% tariff on Indian goods—impacting $48.2 billion worth of exports—India is rolling out a high-impact export diversification strategy.
- This mission, informally dubbed Mission 40, centers around targeted textile export outreach to 40 key global markets. The goal: bolster India’s market presence and offset tariff-induced losses.
Why Textiles & Why 40 Countries?
- Textile sector exposure: Textile and apparel exports alone account for $10.3 billion in trade with the U.S., making them one of the most vulnerable industries under the new tariffs.
- Scope of opportunity: The 40 targeted countries collectively represent over $590 billion in global textile and apparel imports. India’s current share in these markets stands at just 5–6%.
- Global positioning: India already exports to more than 220 countries. These 40 specific nations are considered high-potential markets for faster growth.
What India Aims to Achieve
- Reduce reliance on the U.S. market, absorb the shock of the 50% tariff, and diversify export destinations.
- Re-capture lost competitiveness, especially in light of harsher cost competition from nations like Bangladesh and Vietnam.
- Provide fiscal and diplomatic support, including possibly leveraging trade agreements with partners like the UK and EFTA countries.
