India-US Trade Deal Sparks Textile Stock Rally: 6 Stocks Hit 20% Upper Circuit
Business
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Moneycontrol•03-02-2026, 09:54
India-US Trade Deal Sparks Textile Stock Rally: 6 Stocks Hit 20% Upper Circuit
- •Indian textile stocks surged after an India-US trade deal was announced, reducing US tariffs on Indian goods from 50% to 18%.
- •Gokaldas Exports, Welspun Living, KPR Mill, Indo Count Industries, Trident, and SP Apparels were among the stocks that hit a 20% upper circuit.
- •The new 18% tariff for Indian textile and garment exports is lower than the 20% tariff faced by Vietnam and Bangladesh, making Indian products more competitive.
- •The textile sector, heavily reliant on the US market, had previously faced pressure due to high tariffs and trade deal uncertainties.
- •Analysts expect India's market share in US ready-made garment imports to increase from 6%, benefiting Indian textile companies significantly.
Why It Matters: A new India-US trade deal slashing tariffs has ignited a major rally in Indian textile stocks, boosting competitiveness.
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