Vardhman Textiles, Trident, Gokaldas Exports, Indo Count Industries, Pearl Global, Welspun Living, and KPR Mill were among the textile stocks that soared high right after the opening bell on the Indian stock market , with their share prices rising up to 17% in intraday trade on Thursday, as optimism grew that the trade deal between India and the US could be finalized soon.
The current import duty on Indian goods exported to the US stands at 50%, imposed in two tranches by Donald Trump, and could be slashed to 15%–16%, Mint earlier reported, quoting three people aware of the matter.
The long-stalled trade agreement between the nations appears to be marching towards a better deal, as India has reportedly agreed to lower crude oil imports from Russia and may also allow more non-genetically modified (GM) American corn and soymeal into its markets.
With energy and agriculture emerging as key cards at the negotiating table, India may agree to gradually reduce its imports of Russian oil, Mint reported, citing the people mentioned above on condition of anonymity. The purchases had prompted a punitive levy of 25% on Indian exports, which is over and above the 25% reciprocal tariffs announced in April.
In reaction, sentiment toward textile stocks turned positive, with Kitex Garments emerging as the top gainer, its shares rising 17% to ₹219 apiece, followed by Vardhman Textiles, Faze Three, Gokaldas Exports, Arvind, GTN Industries, Welspun Living, Himatsingka Seide, and KPR Mill, which surged between 5% and 11%.
US is a large market for Indian textiles
Textile stocks were the biggest laggards following the US imposition of 50% tariffs in August, and the impact of higher duties was already visible in Indian exports to the US. Trade data for September shows that India’s textile and apparel exports plunged 10.34 per cent in September 2025.
In 2024, India accounted for around 6% of the United States’ total apparel imports, translating to exports worth approximately $4.8 billion out of the US’s $80 billion import bill, and contributing to 33% of India’s overall apparel exports, according to the latest available data.
Additionally, India exported $5.2 billion worth of textiles to the US, bringing the combined apparel and textile exports to around $10 billion. The sector is also the second-largest employer in India, providing direct employment to over 45 million people and contributing approximately 2% to national GDP and 12% to total exports.
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