US Tariffs Eased: India Export Boom Ahead Tariff Relief Impact - Last 12M: Exporters faced 200-400 bps EBITDA cuts from US reciprocal tariff fears—stocks priced for disaster - Now cancelled: New framework caps at 18% (vs 20%+ Vietnam/Bangladesh, 30%+ China)—India gains edge Narrative Shift - From "Survival" to "Aggressive Growth"—back to pre-tariff world with superior positioning - 2-4% margins reclaimed as pure profit; US buyers return for stable, low-tariff supply Key Beneficiaries - Heavy US-dependent: Home textiles, lab-grown diamonds, auto ancillaries - High-margin plays: Specialty films, quartz surfaces/sinks Disclaimer: Not a buy/sell recommendation Key Takeaway: Tariff cap unlocks deferred growth for Indian exporters—watch US revenue-heavy names for re-rating surge.