India-US Trade Deal: Coforge, Gokaldas Exports, Balkrishna Industries, among seven stocks seen as top beneficiaries

India-US trade deal: India is expected to sign the first tranche of the bilateral trade agreement (BTA) with the United States by the end of 2025, according to reports. At an event last week, India’s Commerce Secretary, Rajesh Agarwal, stated that talks between the two parties have progressed despite recent shifts in global trade conditions.
India and the US are making steady progress on a deal running parallel to the broader bilateral trade agreement negotiations, and the government is pursuing “two separate parallel tracks” with Washington, Agrawal said on Friday.
The anticipated India-USA trade deal is likely to focus primarily on resolving the recent punitive tariffs (~50%) imposed by the US, which led to a temporary halt or deferment of export orders, heavily impacting Indian exporters.
US President Donald Trump had initially announced a 25% reciprocal tariff on India in April, but imposed an additional 25% in August for buying Russian oil, taking the total levy on Indian goods to 50%.
Pankaj Pandey Head – Research, ICICI Securities believes that the expected rollback of these duties to a competitive level will put an end to business uncertainty, opening up trade between the two nations, instantly un-locking these delayed volumes.
Riding on the above theme, ICICI Direct has released a new One Click Portfolio highlighting stocks that are likely to benefit directly from the anticipated India–US Bilateral Trade Agreement (BTA), providing good upside over the medium term.
Beneficiaries of India-US Trade Deal
ICICI Direct has curated a basket of companies with strong fundamentals and direct exposure to US-linked demand. The portfolio includes seven stocks across manufacturing, textiles, auto ancillaries and specialty industrial solutions.
The selected companies and their weights are: Balkrishna Industries (16.3%), Aeroflex Industries (15.5%), Greenlam Industries (14.2%), Elgi Equipments (14.2%), Coforge (13.6%), Indo Count Industries (13.2%), and Gokaldas Exports (13.0%). These firms, ICICI Direct notes, possess sustainable business models and stand to gain meaningfully as export orders resume and pricing becomes more favourable post-deal.
The model portfolio carries an investment range of around ₹14,100 and is benchmarked to the Nifty 500 index. Market-cap wise, the allocation tilts towards smaller companies, with 70.1% exposure to small-caps and the remaining 29.9% in midcaps, reflecting the brokerage’s conviction in high-growth export-oriented businesses within the broader market universe.
Performance data presented in the factsheet shows the “Beneficiaries of Trade Deal” portfolio outperforming the Nifty 500 consistently from November 2022 to November 2025, underscoring the structural export strength these companies have demonstrated despite recent policy headwinds.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.