Textile shares soar after US tariffs weaken Bangladesh's edge
Gini Silk Mills (up 20%), Alok Industries (up 15%), Siyaram Silk Mills (up 10.17%), Donear Industries (up 7%), Shiva Texyarn (up 7%), Raymond Lifestyle (up 6.2%), Vardhman Textiles (up 5.4%), Trident (up 3.8%), Gokaldas Exports (up 2.6%), Welspun Living (up 1.6%), KPR Mill (up 1.57%) surged.
While the new rate is slightly lower than April's 37%, it is still well above the 10% baseline and opens a window of opportunity for Indian exporters.
Vietnam, too, faces steep duties, with 20% tariffs on direct exports and 40% on transshipped goods under a new US trade deal. Currently, India faces up to 26% tariffs due to varied product categories, but a pending US-India trade deal could bring this down.
With Bangladesh and Vietnam holding a major share in the US garment market, Indias share has room to grow, especially if the upcoming trade deal secures more favorable terms.
For now, sentiment remains upbeat for Indian textile manufacturers, who stand to gain from shifting global trade dynamics.
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