One statement by the US Finance Minister, and these Indian shares rocketed, what happened on the tariff?

Trump Tariff: After Scott Besant said that both India and America are great countries and they will solve the tariff issue among themselves, today, there was a tremendous rise in the textile and shrimp stocks.

Trump Tariff: US Finance Minister Scott Besant has given such a statement, after which the textile and shrimp stocks started running like rockets in the Indian stock market today. In fact, just hours after Prime Minister Narendra Modi attended the Shanghai Cooperation Organization (SCO) summit and returned from China, Scott commented on the US-India trade dispute and said that the two great countries will solve it among themselves. After Scott said this, today on September 2, there was a tremendous rise in the textile and shrimp stocks.

'We will solve it among ourselves...'

Speaking to Fox News, Scott Besant said, I think the two great countries will finally find a solution to this issue. He said that the slow progress in India-US trade talks was one of the reasons behind the decision of the US administration led by US President Donald Trump to increase tariffs.

However, during this time, he also criticized India's decision to buy oil from Russia. He says that this could encourage a Russian attack in Ukraine. Talking on Prime Minister Narendra Modi's visit to China for the Shanghai Cooperation Organization (SCO) summit, Scott Besant said, I think India is the most populous democracy in the world. Their values are closer to us and China than to Russia.

Shares of these companies rise

After Besant's comment, the hopes of trade talks between India and America have increased, due to which the shares of textile and shrimp saw a rise today. Shares of Gokaldas Exports rose 5 percent during today's trading. With this, its price reached Rs 733 per share. Shares of KPR Mill also rose by about 3 percent. Similarly, shares of Raymond Lifestyle and Arvind Fashions also rose by about 3-3 percent.

In the same sequence, the shares of Avanti Feeds have risen by about 7 percent. While the shares of Apex Frozen Foods jumped more than 4 percent. It is worth noting that a large part of the income of these companies comes from American exports. Earlier, the shares of these companies had fallen sharply after the US imposed 50 percent tariff on the import of Indian goods.