Textile Stocks Soar 7% as India-US Trade Deal Slashes Tariffs to 18%

• Gokaldas Exports and other textile stocks surged up to 7% after the India-US interim trade framework confirmed a tariff reduction to 18%.
• The agreement, announced on February 9, will see US tariffs on Indian exports decrease significantly.
• Gokaldas Exports jumped 6.5%, Arvind shares surged 7%, Raymond Lifestyle rose nearly 5%, and K.P.R. Mill gained 4%.
• The framework, released on February 6, reaffirms commitment to a broader US-India Bilateral Trade Agreement.
• US also removed the additional 25% tariff on Indian goods for Russian oil purchases after New Delhi committed to stop importing Russian oil.