In this environment, Kamath argues, countries with strong local production capabilities — especially in durable goods (items with a lifespan of over three years) — stand to benefit the most.
As the global economy inches away from the era of open globalisation toward a more protectionist and domestically focused trade environment, India's strong manufacturing and artisanal base is emerging as a potential game-changer. recently, Zerodha co-founder Nikhil Kamath identified four key Indian sectors that could make a global mark in the evolving trade order.
In a post on X (formerly Twitter), Kamath highlighted India's edge in furniture, jewellery, carpets, and luggage, noting that each of these sectors offers a unique blend of craftsmanship, cultural depth, and growing design innovation.
The remarks come at a time when international trade dynamics are under pressure from rising protectionism. US President Donald Trump's renewed call for tariff barriers and import controls has further intensified concerns among global financial institutions, including the International Monetary Fund (IMF), which has warned against the risks of a fragmented global economy.
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In this environment, Kamath argues, countries with strong local production capabilities — especially in durable goods (items with a lifespan of over three years) — stand to benefit the most.
1. Furniture:
Topping Kamath's list is furniture, an industry deeply rooted in India's heritage of woodworking and craftsmanship. With abundant access to sustainable hardwoods like teak and sheesham, Indian artisans are known for producing hand-carved and intricately designed pieces. Kamath believes the sector has untapped global potential, especially in the modular and affordable luxury segments.
Responding to his post, one user remarked that India could emulate an "IKEA-like model" that fuses affordability with cultural authenticity — a concept that aligns well with growing demand for eco-conscious and locally inspired décor.
2. Jewellery and watches:
India's jewellery industry, steeped in centuries of tradition, was Kamath's second pick. With its mastery in goldsmithing and gemstone artistry, India has long been a global supplier of intricate jewellery. Kamath sees massive export potential as global consumers seek products that tell a story — blending heritage with modern design.
Though watchmaking is still a nascent sector in India, Kamath suggested it could also emerge as a niche, particularly in hybrid luxury-tech segments, as global buyers look for locally made alternatives with distinctive style.
3. Carpets, lighting, and fixtures:
The third area spotlighted by Kamath includes carpets, lighting, and decorative fixtures. India is already among the world's largest exporters of handwoven rugs, particularly from Kashmir and Rajasthan. Kamath sees opportunities in expanding export markets through certifications, heritage branding, and storytelling.
Artisan-crafted lighting and fixtures, especially those made from brass, copper, or recycled materials, are also finding demand in international markets that value sustainability and authenticity.
4. Luggage:
Rounding off the list is luggage, a sector that Kamath believes is ready for reinvention. With India's capabilities in textiles and leather, there's growing scope for Indian brands to compete in the premium travel gear segment. Kamath noted a market for smart luggage, hard-shell cases, and thoughtfully designed backpacks that blend style, durability, and local flair.
India's manufacturers can stand out by fusing functional design with storytelling, a strategy that could help differentiate domestic brands in a saturated global market.
