Textile, Shrimp Stocks Jump Up to 4% as Trump Hints at India Trade Deal

Shares of textile and shrimp companies surged sharply on October 29, after US President Donald Trump hinted at the possibility of a trade deal with India soon, improving investor sentiment in export-oriented sectors.

Market Rally on Trade Deal Hopes

At the APEC CEO Summit in South Korea, Trump said he holds great respect for Prime Minister Narendra Modi and added that he plans to “do a trade deal with India.”

The remarks lifted market confidence, as investors expect potential tariff reductions on Indian exports to the US — a move that could significantly benefit India’s textile and shrimp industries.

Also Read: India-EU FTA May Exclude CBAM; Carbon Tax Talks to Continue Separately

What Trump Said?

“I hold great respect for Prime Minister Narendra Modi,” Trump said during his address, adding that he is going to “do a trade deal with India.”

He also mentioned earlier discussions with PM Modi about India’s conflict with Pakistan, calling Modi the “nicest looking guy” and “like a father.”

Shrimp Stocks in Focus

Export-oriented shrimp firms saw notable gains:

• Apex Frozen Foods surged over 4% to around ₹248 per share.

• Coastal Corporation rose more than 2%.

• Avanti Feeds recovered from earlier losses, turning positive after dropping 2% earlier in the day.

These companies derive a significant portion of their revenue from US exports, making them sensitive to trade policy changes.

Textile Stocks Also Surge

Textile exporters gained on hopes of improved trade terms:

• Gokaldas Exports and Pearl Global Industries jumped around 4% each.

• Raymond Lifestyle advanced over 2%.

• KPR Mill also recovered earlier losses, trading nearly flat after the announcement.

Why the Rally Matters?

These sectors had earlier faced sharp declines when the Trump administration hiked tariffs on Indian imports to 50%, citing India’s continued purchase of Russian oil.
Now, with renewed optimism over a potential trade agreement, market participants expect relief for exporters dependent on the US market.

Conclusion

Trump’s comments have sparked a strong rebound in India’s export-focused textile and seafood stocks, as hopes rise for a reduction in US import tariffs through a possible India-US trade deal.

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