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India's textile sector is set for growth as global disruptions in competing markets, particularly in China and Bangladesh, create new opportunities for exporters. With rising labor costs in China and political instability in Bangladesh, Indian apparel exports to the US and UK have increased, reaching 7% and 6% respectively in 2024. Companies like Gokaldas Exports anticipate improved demand in the second half of the year, driven by the festive season and the end of the global inventory de-stocking cycle.
Shares of Indian textile exporters, including Gokaldas, Trident, and Welspun, surged up to 14% as financial troubles mount for Bangladesh's Beximco Group. The Bangladeshi government plans to sell 32 struggling garment companies amid ongoing worker protests over unpaid wages, following the arrest of Beximco's Vice-Chairman. Trident saw a notable increase, with its stock rising 13.96% to an intraday high of Rs 39.27.
Gokaldas Exports Limited
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Indian textile sector poised for growth amid global market disruptions
United States Dollar
Gokaldas Exports Limited
TridentDAO USD
Welspun Corp Limited
IND
GBR
BGD
VNM
USA
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14:11 09.12.2024
Indian textile stocks surge as Bangladesh garment sector faces crisis
Gokaldas Exports Limited
Welspun Corp Limited
Trident Limited
BGD
IND
Sheikh Hasina
Salman F Rahman
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08:42 09.12.2024
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