The market for Indian textiles and apparel manufacturers could reach USD 350 billion by 2030, owing to the long-term positive outlook for the Indian economy and a strong focus on emerging areas such as technical textiles, home furnishing, specialised fabrics and fashion apparel, according to the FICCI-Wazir Advisors report. “The transformational change for the textile […]
India’s trade data for September 2023, released by the Commerce Ministry, reveals a decline in exports by 2.6 per cent, which amounted to USD 34.5 billion compared to USD 35.4 billion in September 2022. “UK delegation will be in India for FTA negotiation. High-level engagements at various levels are ongoing to iron out differences. The […]
Non-metro cities’ Micro, Small, and Medium Enterprises (MSMEs) are surpassing their metro counterparts in Diwali sales this year, with an estimated ecommerce opportunity of a whopping USD 13 billion for Indian MSMEs during the festive season, according to a report by tech-enabled logistics platform and unicorn, Shiprocket. The report suggests that 10-15 per cent of […]
In the fiscal year 2023-24, as stated by RBI Governor Shaktikanta Das on Friday, both India’s exports and imports have contracted. The contraction in merchandise exports and imports persisted, albeit at a slower pace in July and August, following the Monetary Policy Committee meeting. In August, merchandise exports and non-oil non-gold imports saw a moderated […]
Jharkhand’s prized Tassar silk holds significant potential in both domestic and international markets, with the Central Silk Board and Khadi Board actively supporting its promotion, as stated by Governor CP Radhakrishnan. In an exclusive interview with the news agency PTI on Monday, the governor emphasized the need to boost the rural economy of the tribal-dominated […]
Based on preliminary trends for July to August 2023, the rise in crude oil prices, the merchandise trade deficit is projected to widen on a QoQ basis to USD 69 to 71 billion in the ongoing quarter, from USD 56.6 billion in Q1 FY2024, said the rating agency Icra in a report. Nevertheless, it is […]
The textile industry of Haryana is planning to shift its units to Uttar Pradesh and a delegation of the Haryana Textiles Association met the Uttar Pradesh Chief Minister Yogi Adityanath recently. According to an official statement released by the association, the textile industry is taking this step after being impressed with the improved law and […]
West Bengal Chief Minister Mamata Banerjee and UAE State Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi on Friday held discussions to boost trade relations and exports from West Bengal to the United Arab Emirates (UAE). West Bengal CM Banerjee is on a visit to Dubai as she concluded her Spain visit. According to […]
Global automakers are looking to turn India into an export hub, as people are shifting from local demand to pricier vehicles and that may spur more ‘India-first’ models, Nikkei Asia reported. India had already surpassed Japan and become the world’s third-largest car market and now it seems that they are turning the global manufacturers towards […]
Merchandise exports are increasingly facing headwinds from the slowdown in goods demand globally, not only in advanced economies such as the US and euro area but also from emerging markets, most importantly the Asia-Pacific, said Crisil Ratings in a report. Crisil’s report stated that exports are facing a double whammy from a fall in prices […]
