US Boosts Tariffs on Indian Textiles

  Published 1 year ago

U.S. adds 25% tariff on Indian textiles, pushing duties up to 50% and stocks tumble.

  • Kitex, Raymond, Welspun fell 5%, 2.5%, 2%; Vardhman, Gokaldas were down about 1% in trading today.
  • U.S. is India's biggest garment market; tariffs cause order cancellations, hurting competitiveness versus Bangladesh, Vietnam.
  • India halted 11% cotton import duty until September 30, yet tariffs still pressure exporters heavily.

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