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Indian Cotton Stocks Rally as Government Removes 11% Import Duty
Indian Cotton Stocks Rally as Government Removes 11% Import Duty
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BTCCSquare news:
Textile stocks surged across Indian markets after the government eliminated an 11% import duty on cotton through September 30. Vardhman Textiles led gains with a 6.85% jump to ₹437.35, while Ambika Cotton Mills ROSE 6.23% to ₹1,517.45. Welspun Living, Gokaldas Exports, and Arvind Ltd also posted notable gains.
The policy shift aims to bolster domestic textile manufacturers by reducing input costs. However, analysts caution that US tariffs, accumulating inventories, and uncertain demand could temper the rally's longevity. Market participants are reassessing inventory strategies ahead of the seasonal October cotton harvest.
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