India and the UK have set themselves a target to double trade by 2030, which will help textile companies to diversify in new markets and grab more opportunities in the coming years.
Textile stocks rallied in Tuesday's intra-day trade after the finance ministry removed the 11 per cent duty on raw cotton imports for a period of 42 days till September 30, 2025.
Trump Tariff Impact: The US has imposed a 25 per cent penalty via executive order, which takes the total tariff burden to 50 per cent on select Indian goods.
In the past week, textile stocks have fallen by up to 18 per cent following Trump's announcement of a 25 per cent tariff
In the medium to long term India's tariff rate are competitive with other major exporting countries and hence exports order will normalise once tariff effect gets absorbed in the market.