Nikhil Kamath says these 4 Indian sectors could win big as tariffs rise: 'My favourite opportunities ranked sector-wise...'

As the global economy continues to shift from the era of globalization toward a more protectionist framework, new opportunities are emerging for countries with strong domestic production capabilities. One such country is India, whose burgeoning manufacturing ecosystem, rich heritage in craftsmanship, and growing design innovation have caught the attention of industry leaders. Zerodha co-founder Nikhil Kamath recently spotlighted a range of durable goods where India could carve out a global niche.

In a post on X (formerly Twitter), Kamath emphasized the potential of Indian brands in sectors like furniture, jewellery, carpets, and luggage — all products typically defined as "durable goods," which last for more than three years. His insights arrive amid increasing trade tensions worldwide, as exemplified by former US President Donald Trump ’s renewed focus on tariffs, prompting global institutions like the IMF to issue cautionary advisories.




Nikhil Kamath lists four Indian sectors ready to go global as trade wars rise

Durable goods refer to physical products that have a useful life of three years or more. These include household items, furniture, vehicles, and a range of personal products. Nikhil Kamath, in his social media post, suggested that as the world becomes more inward-looking in trade — with countries placing emphasis on local sourcing and import restrictions — nations with strong domestic capabilities in durable goods stand to benefit.
Kamath ranked his sector-wise preferences as follows:

• Furniture
• Jewellery and Watches
• Carpets, Lighting, and Fixtures
• Luggage

These categories reflect not only India's deep-rooted cultural and artisanal strengths but also the capacity to innovate in manufacturing and design.


1. Furniture: Leveraging craftsmanship and sustainability

India’s furniture industry is well known for its craftsmanship, access to hardwoods like teak and sheesham, and a deep heritage of woodworking. Kamath noted this sector as the top opportunity. Indian-made furniture often features intricate detailing, hand-carving, and eco-friendly practices. These are increasingly appealing to global consumers who seek authenticity and sustainability.

There is also an emerging market segment in modular or flat-pack furniture. Responding to Kamath’s post, a user commented that there is significant potential for an “IKEA-like” model rooted in Indian aesthetics — offering affordability and functionality while retaining cultural flair. This highlights a growing appetite for high-quality yet accessible home décor products on a global scale.


2. Jewellery and Watches: Tapping into India’s cultural legacy

India has been a global hub for jewellery for centuries, with a legacy that dates back to ancient civilizations. From goldsmithing to gemstone craftsmanship, Indian jewellery is associated with both cultural richness and exceptional artistry. Kamath identified this as a core area for global expansion, especially with rising interest in story-driven branding and artisanal products.

Consumers in markets like the Middle East, Europe, and North America increasingly seek jewellery that blends heritage with contemporary design. India, with its skilled artisans and deep-rooted traditions in precious metals and stones, is well positioned to cater to this demand. Watchmaking, while relatively newer in the Indian context, could also be an area of innovation, especially in hybrid luxury-tech models.


3. Carpets, Lighting, and Fixtures: High-value artisan goods

India’s carpet industry is already one of the largest exporters globally, particularly for hand-knotted wool and silk rugs from regions like Kashmir and Rajasthan. Kamath emphasized that this sector can continue to expand by focusing on value addition, heritage storytelling, and quality certifications.

Lighting and decorative fixtures are also seeing rising export potential, especially handcrafted or antique-style items. These sectors allow Indian manufacturers to leverage local materials such as brass and copper, while catering to international demand for authentic, handmade products.


4. Luggage: Durable utility with design innovation

The global luggage market is evolving to include smart features, eco-conscious materials, and sleek design. Kamath’s mention of luggage highlights the opportunity for Indian brands to move beyond traditional soft bags and into the realm of high-quality hard-shell suitcases, backpacks, and business travel gear.

Given India’s strong textile and leather sectors, local brands could offer competitively priced, durable luggage products tailored to a broad range of global consumers. Incorporating storytelling and India-centric design elements could also distinguish Indian offerings in a crowded global market.


Kamath spotlights Indian sectors poised to benefit from protectionism

Kamath’s observations come amid heightened global trade tensions. The International Monetary Fund (IMF) recently warned about the economic risks of rising tariffs and trade barriers, particularly in light of Donald Trump’s proposed tariff policies during his renewed presidential campaign.

The IMF cautioned that such tariffs could disrupt global supply chains and strain public finances in emerging markets. This protectionist wave, however, may also offer a silver lining to countries like India — which can localize production, scale up exports of value-added goods, and diversify away from low-cost manufacturing.


Social media reactions: Strong support for Kamath’s vision

Kamath’s post received enthusiastic responses from users on X. One user commented, “Totally with you on that list — especially furniture at the top. India’s got such amazing craftsmanship and raw material, it’s just waiting to be packaged right and shipped globally.” Another user added, “The next generation of global brands might be Made in India not only in technology, but in enduring, tangible products.”

The comments underscore a shared sentiment that India has untapped potential in global consumer markets. There is a call for innovation in packaging, modularity, and design to align traditional strengths with modern consumer expectations.


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