'There is a lot of euphoria in the country after a trade agreement is signed. But it is an illusion for us. What is more important is making it real.'
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
Apex exporters body FIEO on Tuesday expressed serious concerns over high US tariffs on Indian goods and said that textiles and apparel manufacturers in Tirupur, Noida, and Surat have halted production amid worsening cost competitiveness due to these steep duties. The US duties on Indian goods will increase to 50 per cent from August 27.
E-commerce giant Amazon plans to make a mega-investment of $35 billion, over Rs 3.14 lakh crore, in India by 2030 across its businesses with a focus on AI-driven digitization, export growth and job creation, a senior company official said on Wednesday.
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
'In my 26 years at Raj Bhavan, working with more than ten governors, I can tell you C P Radhakrishnan Sir stands out.'
India's largest garment hub Tirupur continues to reel from the effects of the pandemic, with almost 10 per cent of its orders for the upcoming season getting diverted to Bangladesh, Vietnam, Cambodia and China. The sector had seen a drop of about 9 per cent in exports during the first wave, but the impact is likely to be more this time, according to industry experts. Being one of the epicentres of Covid cases in the state, a majority of manufacturing units in the textile belt were closed for almost six weeks during the second wave.
The 36-year-old victim sustained fractures on her hand and leg.
Most industry players in Tirupur feel that though the idea of GST is good, the problems are largely due to its poor implementation. Refund delays, withdrawal of incentive schemes make Made-in-Tirupur products costlier by 10-15 per cent, say entrepreneurs.
Tirupur has changed the lives of migrants, offering them regular work, money and a better quality of life.
The Madras High Court order for closure of over 700 dyeing and knitting units in Tirupur may trigger huge loan defaults. Repayment of loans worth about Rs 20,000 crore would be hit if operations came to a halt, said Tirupur Exporters Association President A Sakthivel.
MotherCare, the baby and maternity clothes retailer that annually sourced garments worth Rs 100 crore from a single exporter in Tirupur, filed for bankruptcy in the UK and will close all its 79 shops in that country. It was the latest world-famous brand to pull down Tirupur's fortunes.
During the last financial year, Tirupur exported goods worth Rs 11,000 crore. This year, manufacturers fear they will fall short of the 20 per cent growth target.
As the sun slowly sets behind the skyline of factory buildings, a group of women enters the Vasantham Textiles mill in this industrial town. They position themselves behind their respective sewing machines to stitch T-shirts. But many machines in another corner of the large hall remain unattended.
With China and Bangladesh losing their edge, textile exports from Tirupur are rising once again, turning the city into a job magnet.
16 bodies have been removed so far from under the debris and rescue efforts were on to look for those possibly trapped in the rubble, police said.
Sree Annapoorna Sree Gowri Shankar is a familiar name across the country. With over 1,500 employees, it is renowned for its filter coffee and Keerai Vada throughout Tamil Nadu. Its operating revenues range from Rs 100 crore to Rs 500 crore.
Business Standard checks out trade hubs across the country to assess the impact of demonetisation. The first of a six-part series takes a look at Tirupur.
A strong rupee has badly hit the Tirupur knit garment manufacturers in Tamil Nadu.
A series of events brought South India's largest garment export hub to its knees.
Several areas of Tamil Nadu remain inundated after hours of heavy to moderate rainfall in the region. Water entered houses and markets in the low-lying residential areas of Erode district due to heavy rainfall throughout the night.
Embroiled in a battle for survival, Left parties marginally improved their performance in the 2024 Lok Sabha elections, leading in eight to 10 seats according to vote counting trends.
Following the allegations by TFPC on July 29, the representatives of the actors' body, The South Indian Artistes' Association aka Nadigar Sangam claimed that they got to know about the decision only when it was reported in the media.
A special team from Tirupur Cyber Crime continued their surveillance and traced the accused Prashantkumar a native of Bihar, settled at Henegare village of Latehar district in Jharkhand, for posting the videos as if North Indian migrant workers were attacked.
The delegation also interacted with the workers and told them not to believe in rumours and fake videos.
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
Special teams have been formed under the orders of the Director General of Police, Tamil Nadu, C Sylendra Babu to arrest them, they said.
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
The BJP state unit hailed Vasan and said his advice will be used in the coming days to guide the alliance.
Welcome to Tirupur (occasionally also spelled Tiruppur), a city of a 600,000 people in Tamil Nadu. It has a population of over a million in the urban agglomeration, and has been registering an annual growth of 30 per cent since 1998.
Tamil Nadu Director General of Police C Sylendra Babu on Thursday said a thorough investigation into the circulation of fake videos of alleged attacks on migrant workers in the state would reveal the real reason behind rumour-mongers spreading it.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
After dipping by as much as 17 per cent in April, readymade garment (RMG) exports of all textile categories in India are showing signs of recovery in May. Exporters in Tiruppur are indicating a rise in rupee terms during the month, while it may take at least a month for volumes to be back in positive terrain. Among the global majors that are placing orders in the textile hub include Walmart, H&M (Hennes & Mauritz AB), Tommy Hilfiger and Target.
'Silicon Valley people are generally used to layoffs.' 'Every person who has been in the industry for 15-20 years would have been laid off at least 3-4 times.' 'In India, we aren't used to that concept.' 'So when it came here, people were shocked.'
'By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.' 'Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.' 'And what Tirupur produced in March is still here, and they have also become dead inventory.'
A case of disproportionate assets was filed against a former All India Anna Dravida Munnetra Kazhagam MLA by the Vigilance Directorate and simultaneous searches were held in multiple locations on Friday by the anti-corruption sleuths.
The driver of the lorry apparently lost control after the tyre burst and jumped the median and collided with the oncoming passenger bus, police said. The driver Hemaraj, a native of Ernakulam, has been arrested.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances