Key India exports to gain from fresh.

HOWEVER, SOME of these firms pared their earlier gains by the close of the trading session.

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The top gainers included Alok Industries, Vardhman Textiles, Indo Count Industries, Trident, and KPR Mill.

The elevated duties on Thailand can lead to gains for Indian exporters of rubber and articles.

Thailand is the top exporter of these products to the US with a share of 15.16%, while India is at fourth spot with 2.93% share. India exported $1.06 billion worth of these articles to the US in 2024, according to GTRI, a trade research outfit.

The higher tariffs on Indonesia might give advantage to India in processed meat & fish products and footwear exports, it added.

Bangladesh is the third biggest exporter of apparel (except knitted or crocheted) to the US with a market share of 13.15% in calendar year 2024. India's exports to the US in this category was $2.5 billion but it is not among the top three, according to an analysis by GTRI. In apparel (knitted and crocheted) Vietnam (with a share of 17.99% of US imports) and Cambodia (5.99%) are ahead of India, whose share is 5.09% and shipments in value terms stood at $2.41 billion in 2024.

"India faces stiff competition from Bangladesh and Vietnam in the US garment market. In natural garments, an area of traditional Indian strength, the cost disadvantage is relatively small.

"However, in synthetic garments, the gap is significant. With tariff levels proposed now, India would be competitive against Bangladesh only in natural garments," secretary general of Apparel Export Promotion Council (AEPC) Mithileshwar Thakur said.