The India-EU trade pact has been under negotiation for nearly 18 years, making it one of India’s longest-running trade discussions. The European Union remains India’s largest trading partner in goods, with bilateral trade estimated at around $136 billion in 2024–25, according to PTI.
In Tuesday’s session, textile stocks witnessed strong buying interest. Gokaldas Exports surged 5% to Rs 585 per share, while KPR Mill rose 3% to its day’s high of Rs 875. Welspun Living gained 3.5% to trade at Rs 125.25 on the BSE. Vardhman Textiles jumped 5% to Rs 422, and Trident advanced 4% to Rs 26.42.
Among shrimp stocks, Avanti Feeds rallied 3% to its day’s high of Rs 780 on the BSE, while Apex Frozen Foods surged 12% to its day’s high of Rs 296.
The sentiment among these export-heavy stocks was also boosted by renewed optimism around a potential India-US trade deal after the US President Donald Trump struck an upbeat tone on bilateral ties during his visit to the World Economic Forum in Davos last week.
Speaking to Moneycontrol on the sidelines of the WEF, Trump praised Prime Minister Narendra Modi and expressed confidence in a favourable agreement, saying, “I have great respect for your Prime Minister. He’s a fantastic man and a friend of mine. We are going to have a good deal.” His remarks came even as the U.S. continues to impose tariffs of up to 50% on Indian goods, among the highest faced by India globally, and as a comprehensive trade pact remains elusive.
The proposed pact, if concluded, could revive trade relations between Washington and New Delhi, which had cooled after Trump’s earlier decision to impose steep tariffs on Indian goods — 20% of which were penalty duties aimed at what he claimed was India’s funding of the war in Ukraine.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source link
