India's textile stocks jump as government removes import duty on cotton

Raymond Lifestyle

19/08/2025 05:38

** Indian textile firms rise after country removes import duty on cotton from August 19 to September 30

** Vardhman Textiles VART.NS, among India's biggest yarn producers, up 8% to 442.2 rupees

** Kitex Garments KITE.NS, Welspun Living WLSP.NS and Raymond Lifestyle RAYL.NS up 5%, 4% and 3.4%, respectively

** Gokaldas Exports rises 2.4%

** India's garment industry is reeling from a steep 50% tariff on U.S. shipments, compared to a 20% rate for Bangladesh and Vietnam and 30% for China

** Industry groups have said exemptions on cotton imports, which were subject to an 11% duty, will make the sector more competitive

** Industry officials expect government to extend duty-free cotton imports beyond September

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))