India's textile stocks surge as Trump announces 35% tariff on Bangladesh

KPR Mill

08/07/2025 05:30

** Shares of India's textile companies rise as much as 11% after U.S. announces 35% tariffs on Bangladesh, while President Donald Trump hints at deal with India

** Alok Industries ALOK.NS surges 11%, while KPR Mill KPRM.NS and Vardhman Textiles VART.NS add 5.2% and 6.8%, respectively

** Gokaldas Exports GOKL.NS, Indo Count Industries ICNT.NS and Trident TRIE.NS rise around 7%, 6% and 5%, respectively

** Bangladesh is one of the key exporters of ready-made garments to the U.S., and competes directly with Indian garment manufacturers

** "If India manages to sign favourable deal with U.S., we might see lower tariffs on ready-made garment exports compared with other countries such as China, Vietnam and Bangladesh," says ICICI Securities

** Adds that scenario for Indian textile manufacturers is positive as of now

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))