Following the most recent round of tariff developments from the US government under President Donald Trump, shares of Indian textile businesses, Gokaldas Exports Ltd., Pearl Global Ltd., Arvind Ltd., Welspun Living Ltd., and their peers remain in focus on Friday 1st August 1.
The Trump Administration recently declared that India will be required to pay a 25% tariff, plus an additional penalty amount that was not disclosed.
The US, in its latest announcement has declared that the tariff on Bangladesh has been reduced from the 35% that the Trump administration had previously imposed to 20%, which is the main reason why Indian textile stocks are once again in focus.
After dropping 7% on Thursday, Pearl Global’s shares are now down another 6%, and Gokaldas Exports’ shares have dropped more than 2% after dropping 4.5% on Thursday.
Welspun Living’s shares are down 1.3% following a short recovery from the day’s lows, while KPR Mill’s shares fell more than 4% on Friday.
For clothing exports to the United States, India faces competition from nations such as Bangladesh and Vietnam. Vietnam, which just signed an agreement with the United States, imposes a 20% tariff on its exports.
