Shares of textile exporters jumped on Wednesday as optimism grew around renewed India US trade negotiations aimed at resolving tariff frictions.
The rally was sparked by upbeat remarks from US President Donald Trump and Prime Minister Narendra Modi on the progress of talks. Trump said he was certain there will be no difficulty in coming to a successful conclusion in trade discussions with India, while Modi echoed that sentiment, calling the US a natural partner and highlighting the limitless potential of the India US partnership.Indo Count Industries (up 20%), Welspun Living (up 9.54%), Gokaldas Exports (up 7.74%), Vardhman Textiles (up 6.17%), Trident (up 4.34%), Arvind (up 3.88%), Bombay Dyeing & Manufacturing Company (up 3.24%) and Raymond Lifestyle (up 1.51%) gained sharply.
The sector had been under pressure in recent months after Washington imposed steep tariff hikes on Indian imports, squeezing exporters margins. Hopes of a breakthrough in tariff negotiations have now lifted sentiment, with investors betting on a revival in overseas demand for Indian home textiles, garments, and yarn.
Analysts noted that a favorable deal could restore competitiveness for Indian exporters in the US market, particularly as global retailers diversify sourcing beyond Bangladesh.
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