Mumbai, Feb. 3 -- Indian textile and apparel exporters can breathe a sigh of relief as the US and India have negotiated a reduced reciprocal tariff of 18% on Indian goods, giving Indian exports an edge over peers.

The breakthrough, combined with the expected gains from free trade agreements (FTAs) with the European Union and the UK, puts Indian apparel exporters in a better position than a year ago.

Shares of exporters with an overwhelming exposure to the US, such as Gokaldas Exports Ltd, Welspun Living Ltd, Indo Count Industries Ltd, Kitex Garments Ltd, and Faze Three Ltd, were locked in the upper circuit as of 1pm on Tuesday. Other scrips with higher free float, such as Raymond Lifestyle Ltd (5%) and KPR Mills Ltd (17%), also made han...