The textile and apparel industry has emerged as the biggest beneficiary of the US-India trade deal, with several stocks hitting upper circuits.
Shares of Gokaldas Exports jumped 20%, while Indo Count Industries, Kitex, Pearl Global, Himatsingka Seide, SP Apparels, and KPR Mill all rallied 20%, hitting their respective upper circuits. Trident also gained nearly 20% while Vardhman Textiles rose 18.06% in strong trade.
This comes on the back of Donald Trump announcing the historic trade deal between the US and India, which could significantly lower landed costs for Indian exporters in the United States. The historic trade deal is set to bring down the reciprocal tariff on Indian goods to 18% from the current 50%.
On the export front, NDTV Profit research shows that Indian sectors such as textiles and apparel may benefit from tariff cuts, lowering landed costs in the U.S. This also benefits exporters who stand to gain from improved market access. Lower duties are expected to enhance pricing power, widen margins, and support order flows from major American buyers.
Textile is expected to be among the biggest beneficiaries of improved market access, with analysts noting that more than half of India's textile and apparel imports rely on US cotton.
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