Indian exports-oriented firms drop on US tariff concerns

Pearl Global Industries

08/01/2026 09:25

Updates

** Indian exports-oriented firms drop 7%-11%

** Donald Trump warned of higher tariffs on Indian goods over Russian oil purchases, even as New Delhi seeks trade deal with Washington

** Trump has greenlit bipartisan sanctions bill targeting countries doing business with Russia, with tariffs of up to 500%, senator says

** Apparel maker Gokaldas Exports GOKL.NS falls 11% to its lowest since August 2023; Pearl Global PGIL.NS drops 7.5%

** Seafood exporters Avanti Feeds AVNT.NS, Apex Frozen APEX.NS lose 9% and 8%, respectively

** Revenue from U.S. accounts for more than 60% of Gokaldas's overall revenue, 50% of Apex Frozen's sales

** Two-thirds of Avanti's Q2 shrimp sales came from North America

 (Reporting by Mridula Kumar and Nishit Navin in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))