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Textile stocks rise amid 35% US tariff on Bangladesh
Business Standard
|July 09, 2025
Lower tariff on India than others may aid domestic cos: Analysts
Shares of textile companies such as Vardhman, Gokaldas Exports, Siyaram Silk Mills, Alok Industries, Indo Count Industries, Sangam India, and Nahar Spinning Mills surged up to 17 per cent on the NSE in Tuesday's intraday trade amid heavy volumes.
The rally came on the back of US President Donald Trump imposing a revised tariff of 35 per cent on Bangladesh, a global textile hub. The tariff is slightly less than the 37 per cent imposed on April 2.
According to analysts at ICICI Securities, Bangladesh is a key readymade garment exporter to the US with 9 per cent market share. Vietnam has a 19 per cent market share and the US last week imposed a 20 per cent tariff on it.
This story is from the July 09, 2025 edition of Business Standard.
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