U.S. President Donald Trump has announced exemptions for graphite, tungsten, uranium and gold from country-based tariffs, while silicone products will now face fresh levies. The move is expected to have a mixed impact on Indian companies listed on the domestic stock exchanges that export these materials to the United States.
Beneficiaries from tariff exemption
Graphite India Ltd is likely to benefit as graphite products shipped to the U.S. will not attract additional duties. The exemption shields margins for one of the country’s largest graphite electrode makers.
Indian Rare Earths (IREL), a state-owned company engaged in mining and export of rare earths and minerals including uranium, stands to gain from the exemption on uranium shipments.
Rajesh Exports Ltd, one of the world’s largest gold refiners and exporters, may also benefit from gold being kept outside the tariff net, giving Indian jewellery exporters some relief amid a broader tariff-heavy environment.
Companies facing headwinds
The imposition of tariffs on silicone products is expected to weigh on Indian chemical and specialty materials companies engaged in silicone-based exports. While the exact impact will depend on product categories, higher costs could hurt competitiveness in the U.S. market.
Separately, Indian gems and jewellery exporters such as Kalyan Jewellers and other listed players remain vulnerable to wider U.S. tariff actions that have already triggered order cancellations. Textile exporters including Welspun Living, Gokaldas Exports, Indo Count and Trident also face pressures from broader tariff measures.
Market watchlist
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Graphite India – Positive, graphite exempted
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IREL – Positive, uranium exempted
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Rajesh Exports – Positive, gold exempted
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Chemical/silicone-based exporters – Negative, new levies imposed
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Jewellery exporters (Kalyan, others) – Negative, U.S. tariff headwinds
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Textile exporters (Welspun, Gokaldas, Indo Count, Trident) – Negative, tariff pressures
The announcement underscores the uneven impact of U.S. trade policy shifts, with certain sectors gaining relief while others brace for fresh challenges. Investors are expected to closely track export-heavy companies as tariff-related developments unfold.
Disclaimer: This article is for informational purposes only, based on company announcements and global trade updates. It should not be construed as investment advice. Readers are advised to consult their financial advisor before making any investment decisions.
