- Textile stocks surged after Finance Minister Sitharaman announced fresh measures in Budget 2026
- The government aims to promote skilling in textiles through Samarth 2.0 and mega textile parks
- Mahatma Gandhi Gram Samaj initiative was launched to support Khadi and handicraft sectors
Textile stocks surged in trade after Finance Minister Nirmala Sitharaman announced fresh measures for the sector in the Union Budget 2026, signalling continued policy support for manufacturing, exports and employment generation.
During her Budget speech, Sitharaman stated the government's aim to promote skilling in the textile sector through Samarth 2.0, and proposed to set up mega textile parks in challenge mode. She further announced the launch of Mahatma Gandhi Gram Samaj initiative to support Khadi and handicraft.
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The announcement lifted sentiment across textile counters. Kitex Garment led the rally, rising over 6%. Pearl Global advanced nearly 6%, while Arvind gained close to 5%. Export-oriented names such as Gokaldas Exports climbed about 4.5%, and KPR Mill added over 4%. Welspun Living rose more than 3%, while Vardhman Acrylics traded marginally higher.
In the previous Budget, the government had underscored its focus on strengthening the textile value chain, starting from the farm level.
Sitharaman announced a five-year Mission for Cotton Productivity to improve yields, enhance sustainability and promote extra-long staple cotton varieties. The initiative was backed by science and technology-led support for farmers, with the twin objectives of raising farm incomes and ensuring a reliable supply of quality cotton for India's traditional textile industry, aligned with the government's integrated 5F vision.
The Budget also aimed to boost domestic manufacturing of technical textiles, including agro-textiles, medical textiles and geo-textiles. To support this push, two additional categories of shuttle-less looms were added to the list of fully exempted textile machinery, helping reduce input costs for manufacturers.
In addition, customs duty changes were announced, with the basic customs duty on knitted fabrics across nine tariff lines revised from 10% or 20% to 20% or Rs 115 per kg, whichever was higher. These steps were intended to protect domestic producers and encourage greater value addition within the country.
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