Trump’s tariff tantrums return?
Gokaldas Exports, other textile stocks drop up to 5% after Trump signs Russia sanctions bill Agencies Shares of textile exporters fell after US President Donald Trump signed a law allowing tariffs of up to 100% on countries buying Russian oil.
Synopsis Shares of textile exporters fell after US President Donald Trump signed a law allowing tariffs of up to 100% on countries buying Russian oil and gas, raising concerns over potential fresh duties on Indian exports.
Gokaldas Exports fell nearly 5%, while Indo Count Industries and Vardhman Textiles dropped over 3% each and Arvind declined more than 2%.
The US is the largest market for India’s textile and apparel exporters, making them vulnerable to any tariff escalation.
By Ritesh Presswala, ETMarkets.com XPeers Gokaldas Exports Share Price Aditya Birla Lifestyle Brands Share Price Arvind Fashions Share Price Raymond Lifestyle Share Price S P Apparels Share Price Sep 21, 2026, 02:08:00 PM IST Follow us Shares of textile exporters dropped up to 5% on Monday after US President Donald Trump signed the sweeping Russia sanctions bill into law, spooking investors about fresh tariff tantrums which can impact Indian companies.ADVERTISEMENT Gokaldas Exports shares plunged nearly 5% to trade below Rs 630 apiece on NSE, while those of Indo Count Industries and Vardhman Textiles fell more than 3% each.
Arvind shares meanwhile dropped over 2%, despite the overall positive market sentiment on Monday.Trump on Friday signed the bipartisan Lindsey O Graham Sanctioning Russia and Iran Act of 2026 into law, paving the way for increased economic pressure on Russia over its invasion of Ukraine.
The new law gives the Trump administration that power to impose tariffs of up to 100% on countries buying Russian oil and gas, potentially exposing major buyers such as India and China to higher duties on their exports to the US.
The US is the single-largest market for India’s textile and apparel exporters.
CITI) expressed concerns over the potential impact on India’s textile and apparel exports through likely additional tariffs being imposed by the United States following the signing of the ‘Lindsey O.
Graham Sanctioning Russia and Iran Act of 2026’ by the US President.
ADVERTISEMENT “Any additional tariffs under this Act will be very difficult to absorb for the MSME-dominated Indian textile and apparel sector already under stress due to several factors, including the continuing turmoil in West Asia.
1 economy,” Chandran further said, adding that a fair, balanced and equitable bilateral trade deal (BTA) between India and the US is the urgent need of the hour.
India has been negotiating the BTA with the United States for some time.ADVERTISEMENT ADVERTISEMENT O.
Graham Sanctioning Russia & Iran Act: Textile body sees severe threat to India’s textiles & apparel sectorFor the period between April and August 2026, India’s textile exports rose 6.94% in US dollar terms, but apparel exports fell 9.10%, leaving cumulative textile and apparel exports marginally lower by 0.24% year-on-year.
The bill, called the ‘Lindsey O.
Graham Sanctioning Russia and Iran Act of 2026’ to honor the South Carolina Republican who died in July, was passed by the House of Representatives on Wednesday and the Senate last month.
Graham, a longtime Russia hawk, was a staunch backer of the legislation.
