Shares of Indian textile exporters rallied sharply on Wednesday, September 10, after optimism grew around the possibility of a breakthrough in trade talks between India and the United States.
Welspun Living Ltd. surged over 9% to ₹124.55, while Gokaldas Exports Ltd. gained 7.3% to ₹802.15. Trident Ltd. rose 4%, while Pearl Global Ltd. and Vardhman Textiles Ltd. advanced between 5–6%. Indo Count Industries also saw its stock climb 6.7% in early trade.
The rally came after US President Donald Trump wrote on Truth Social that discussions with India were ongoing and that he looked forward to speaking with Prime Minister Narendra Modi. PM Modi, in a post on X, responded by calling the US and India “close and natural friends,” signaling renewed momentum in trade negotiations.
The textile sector has been among the hardest hit by the Trump administration’s additional 25% tariff on Indian exports, taking the overall duty to 50%. Nearly 50–70% of revenues for many listed textile firms are linked to the US market.
Industry executives, including Pearl Global, have warned that prolonged tariffs could shift $6 billion worth of exports and threaten lakhs of jobs, with US buyers already demanding 15–20% discounts to offset duties. Many textile stocks had corrected 15–20% in the past month before today’s rebound.
