India's textile stocks drop after Trump doubles tariff on Indian imports

KPR Mill

07/08/2025 05:07

** Indian textile stocks down between 1% and 3%

** Trump executive order imposes additional 25% tariff on goods from India for Russian oil trade

** KPR Mill KPRM.NS leads decline with 2.6% drop, Gokaldas Exports' GOKL.NS down 2.2%

** Welspun Living WLSP.NS, Vardhman Textiles VART.NS Indo Count ICNT.NS down ~2%; Trident TRIE.NS drops 1%

** WLSP, GOKL, ICNT, TRIE derive 40%-70% of their revenues from the U.S.

** They fell 3%-7% on July 31 when Trump announced 25% tariffs on Indian products, along with undisclosed penalty for New Delhi's trade with Moscow

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))