According to media reports, major US retail giants such as Walmart, Amazon, and Target have stopped placing new orders from India following the tariff announcement.

“All the customers are already calling me,” said Pallab Banerjee, managing director of Pearl Global, in an interview with Reuters. “They want us to … let’s shift from India to other countries.”

To retain business, Pearl Global has offered to move production to its factories in Bangladesh, Vietnam, Indonesia, and Guatemala — all exempt from the new US tariffs on Indian goods.

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