Mumbai, May 7 -- Major textile counters rallied sharply in response: Gokaldas Exports jumped 6.63%, KPR Mill rose 6.45%, Welspun Living climbed 6.34%, Indo Count Industries gained 6.09%, Vardhman Textiles added 4.93% and Arvind was up 1.91%.

At the core of this investor enthusiasm is the scrapping of the 8-12% UK import duty on textiles and garments under the FTA-putting Indian exporters on par with Bangladesh and giving them a 12% tariff advantage over China. This is expected to enhance India's competitiveness in the UK market, a key destination for apparel and textile exports.

Analysts are optimistic, noting that the deal could help Indian firms double their revenue contributions from the UK by FY27.

Beyond apparel, the agreement is ...