India's textile stocks rise on higher US tariffs on Asian peers

KPR Mill

03/04/2025 06:29

** Textile stocks gain between 4% and 9%; Vardhman Textiles VART.NS, with presence in more than 75 countries, top gainer, soaring 8.9%

** Arvind ARVN.NS rises 4.3%, KPR Mill KPRM.NS advances 6.5%, Nitin Spinners NISP.NS jumps 4.45% and Gokaldas Exports gains 8.16%

** Donald Trump's 26% reciprocal tariffs on India lower than those on competitors like Bangladesh (37%), Vietnam (46%) and Cambodia (49%)

** Ajay Sahai, Director General at Federation of Indian Export Organizations, says, "We will be looking for some diversion of business from other countries to India"

** "For India, the advantage is a potential bilateral trade agreement with the U.S."

** Tiruppur Exporters' Association, seeking certain quantity of duty-free cotton exports to the U.S., says it is in talks with ministries

 (Reporting by Ananta Agarwal in Bengaluru and Praveen Paramasivam in Chennai)

 ((Ananta.Agarwal@thomsonreuters.com))