Textile stocks rally up to 13% as Centre suspends 11% cotton import duty till October
Indo Count surged 13% to ₹353.90, Vardhman +8%, Gokaldas Exports +6%, Arvind +6% and Welspun Living +5% after the Centre suspended the 11% cotton import duty from June 1 to October 31. The move aims to lower input costs for the MSME-heavy textile sector and support India's $100 billion textile export target by 2030.
Centre suspended 11% cotton import duty from June 1 to October 31, sending textile stocks like Indo Count, Arvind, Gokaldas, Welspun Living and Vardhman rallying up to 13%. Move aims to ease input costs for MSME-heavy textile sector and boost export competitiveness.
Why this matters
Indo Count and peers like Vardhman, Arvind and Welspun Living gain a five-month input cost reprieve, easing margin pressure on cotton-heavy textile exporters competing globally.
Retail-company signals steady at 1,542 over 90 days, reflecting active sector newsflow.