Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
Indian textiles industry needs to restructure itself by evolving manufacturing and marketing strategies to take advantage of the likely addition of a $100 billion to world textiles trade, once the quota regime under WTO ends in 2004.
The continued weak financial health of this sector remains one of the big enigmas of the post-liberalisation India.
Apparel exports have been declining on the back of rise in cotton and cotton yarn prices.
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
'If you compare the data from 2017 and 2023 of the US imports from the world and China, you will see that the US was a complete loser in the trade war, and China was a complete gainer.'
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
This Women's Day Week, we pay tribute to the extraordinary courage, resilience, and leadership of three iconic Indian queens -- Rani Lakshmibai of Jhansi, Rani Chennamma of Kittur, and Maharani Ahilyabai Holkar of Malwa.
The armed forces will completely ban the import of clothing, required to sustain its soldiers at extreme temperatures across the country, if the Indian textile industry is able to innovate and manufacture them, said Chief of Defence Staff (CDS) General Bipin Rawat.
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
Vidarbha, the land of farmers' suicides, may soon witness changes in cultivation methods.
Currently, India imposes 30-45 per cent duty on textile products from Pakistan.
Indian production this season (Oct 2006-Sept 2007) is estimated at 280 lakh bales of 170 kg (against 245 lakh bales last season) and for the next season, it has been projected at a minimum 300 lakh bales.
'The jury panel said that my collection should not be limited to a college fashion show; it had much more potential. They encouraged me to sign up for the annual National Designer Awards organised by the World Designing Forum.'
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
Indian power expertise to Sudan for oil, gas blocks
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
The primary problem is that India's garment factories are too small and they typically have 150 people and about 80 machines.
Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15. He was instrumental in a slew of business initiatives, starting with his stint as the chairman of Kesoram Industries.
He presented the first-ever National Creators' Awards at the Bharat Mandapam in the national capital.
Brands such as Gap, Primark and C&A which source some of their garments from Tamil Nadu say they do regular audits to ensure their suppliers comply with their codes of conduct.
'India has an advantage because we produce more cotton and we have more workforce.'
Designer Rohit Bal, a pioneer who helped put Indian fashion on the global map and dressed celebrities at home, Hollywood and elsewhere, died on Friday night at a south Delhi hospital following a heart attack. He was 63.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
Designer Ritu Kumar draws attention to the urgent needs of the handloom industry.
The new guidelines, effective from August 1, aim to expedite visa approvals for nationals from China and other countries sharing land borders with India.
Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday. Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
The government is expediting visa-related issues to bring technicians to India from any country, not just China, as and when required, to ensure the smooth implementation of the flagship production-linked incentive (PLI) scheme aimed at boosting domestic manufacturing. "If those under the PLI scheme need to get their equipment installed, we try to expedite the ability to get technicians into India from any country, whichever it may be," Union Commerce and Industry Minister Piyush Goyal told Business Standard in an interview.
Viscose Rayon is a regenerated cellulosic fibre with properties similar to cotton but having a higher comfort factor than even cotton.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
Pakistan is doing another confidence building measure with India by permitting import of cotton from the neighbouring country through Wagah border.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Andhra Pradesh ranked No.1 with regard to the total number of investments made in textile projects this year, a study conducted by Confederation of Indian Industry-Southern region said.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
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