India's textile makers gain after free trade agreement between Britain and India

S.P.Apparels

07/05/2025 06:04

** Shares of India's textile makers rise after Britain and India sign major
trade agreement

** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles

** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively

** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said

** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run

** ICNT jumps 6.5% and WLSP gains 7.3%

** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))