Mumbai, Aug. 19 -- Raymond Lifestyle (up 8.22%), Vardhman Textiles (up 7.50%), Arvind (up 3.73%), Welspun Living (up 3.46%), Indo Count Industries (up 2.21%), Gokaldas Exports (up 2.14%) surged.
The Finance Ministry on Monday eliminated the 11% duty on cotton imports with immediate effect, citing the need to safeguard competitiveness amid concerns over job losses triggered by steep US tariffs that risk making Indian products uncompetitive in the country's largest export market.
The notification states that the removal of both the import duty and the Agriculture Infrastructure and Development Cess (AIDC) is "in the public interest" and will remain in force from August 19 through September 30.
The textile industry is particularly vulnerabl...