Goldiam International, Vaibhav Global, IGIL shares surge up to 20% after India US trade agreement

Shares of gems and jewellery companies such as Goldiam International, Vaibhav Global, International Gemmological Institute, Rajesh Exports, Sky Gold, Senco Gold, Titan, Shringar House of Mangalsutra, Golkunda Diamonds and Tribhovandas Bhimji Zaveri came under strong buying interest on Tuesday, February 3, and surged between 3%-20% after India and United States agreed to a trade deal.

India and the United States agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18% from the current 25%.

In a post on his Truth Social platform, Trump said it was “an honor to speak with Prime Minister Modi” and described him as “one of my greatest friends and a powerful and respected leader”.

He said the leaders spoke about trade and ending the Russia-Ukraine war.

Trump said India agreed to stop buying Russian oil and instead buy more energy from the United States and potentially Venezuela, which he said would help “END THE WAR in Ukraine”.

He announced that reciprocal tariffs on Indian imports into the US would be cut from 25% to 18%, effective immediately, while India would eliminate tariffs and non-tariff barriers on US products.

“At the request of Prime Minister Modi, effective immediately we agreed to a Trade Deal… This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!” Trump wrote.

Indian companies exported gems and jewellery products worth $9.15 billion in 2024, making it the second biggest exports to the US after electrical and electronic equipment.

Following the deal announcement, shares of Goldiam International jumped 20% to ₹360. Rajesh Exports advanced 5%, Vaibhav Global surged 10%, Renaissance Global climbed 13% and Tribhovandas Bhimji Zaveri rose 8%.