US Tariffs Hit Indian Textile and Jewelry Stocks Hard
Indian textile, leather, gems, and jewellery stocks plummeted after the US imposed a 50% tariff on Indian goods. This move impacts exports worth over USD 48 billion, affecting various sectors including textiles, gems, and leather. Key stocks like Alok Industries and Relaxo Footwears saw significant declines.
- Country:
- India
Indian stocks in the textile, leather, gems, and jewellery sectors faced a sharp decline on Thursday due to the implementation of a 50% tariff by the United States on Indian goods.
Notable losses were observed with shares of Alok Industries, which fell by 4.13%, and Relaxo Footwears, which decreased by 2.34%, among others.
This tariff, effective from August 27, impacts exports valued at more than USD 48 billion, with sectors like textiles, gems, and chemicals expecting significant repercussions.
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