Trump Tariffs Hit Indian Textile Stocks
????Indian textile stocks like KPR Mill, Gokaldas Exports, and Trident fell up to 3% on Thursday after the US imposed an additional 25% duty on imports from India, raising the total tariff to 50% on textiles and apparel from August 27.
????The new rates push duties on knitted apparel to nearly 64% and woven apparel to over 60%, which experts warn could cut India’s $10.3 billion textile exports to the US by 40–50%.
????The US is India’s largest textile market, where India ranks third after China and Vietnam. But rivals face much lower tariffs — China 30%, Vietnam 20%, Indonesia 19%, and Japan 15% — giving them a clear edge.
????According to FIEO, about 55% of India’s textile exports to the US will be directly hit, making Indian exporters less competitive. Analysts also note the tariffs could shave 0.5% off US GDP — a bigger hit than what India may face.
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