India’s natural diamond polishing industry is bracing for a significant revenue drop of 28-30%, potentially hitting a low not seen since 2007, due to new US tariffs and declining global demand. Competition from lab-grown diamonds and subdued demand from China exacerbate the situation.

JD Sports has reported resilient Q2 results with stronger North America sales but softer UK and Europe due to Euro 2024 comparatives.
Apparel outperformed while footwear slowed.
H1 gross margin slipped 40–60bps on online price investments.
Strategic milestones included new stores, e-commerce and distribution centres.
FY26 profit guidance reaffirmed; £100 million (~$135 million) share buyback announced.

This has turned out to be precarious moment for the Indian garment industry as the implications of US tariffs extend far beyond financial figures. They touch the lives of countless workers who depend on the industry for their livelihoods, highlighting the fragile nature of global trade dynamics and their profound impact on local economies.

To give relief to the textile sector from the US tariffs, the Central Government on Thursday announced to extend the exemption of import duty on cotton till December 31, 2025. The move is aimed at ensuring adequate availability of cotton for the domestic textile industry, according to a Ministry of Finance press release. It also stated that further notifications will follow.

Hexafun, a lifestyle accessories brand, has secured Rs 4.5 crore in seed funding from Prajay Advisors, with capitalCORN acting as the transaction advisor. The company plans to use the funds to expand its retail footprint, ramp up marketing efforts, and introduce new product lines.

ATHLETIFREAK, a US-based luxury activewear brand, has launched its first Indian store in New Delhi, marking its entry into Asia. In partnership with strategic investors and brand ambassadors Mira and Shahid Kapoor, the brand aims to tap into India’s growing fitness market. With plans to expand to Mumbai, Bengaluru, and Hyderabad, ATHLETIFREAK anticipates India contributing significantly to its global business.

Silver prices in New Delhi soared to a record ₹1,20,000 per kilogram on Wednesday, driven by investors seeking safe-haven assets following the implementation of steep US tariffs on Indian products. Gold prices also rose, with 99.9% purity gold reaching ₹1,01,270 per 10 grams.

China remains Australia’s largest apparel supplier in 2025 with over fifty per cent share, but its dominance is gradually slipping.
Apparel imports grew 3.07 per cent in January–June 2025 to $3.93 billion, while imports from China rose 2.84 per cent to $2.31 billion.
Bangladesh, Vietnam, India and Indonesia gained ground, reflecting retailers’ efforts to reduce reliance on China.

Nigeria’s First Lady Oluremi Tinubu recently inaugurated an industrial leather processing and manufacturing unit in Mushin, a trading suburb of Lagos state.
The hub is expected to create 10,000 direct jobs and position Lagos as the leather logistics capital in West Africa.
When fully operational, it is expected to generate more than $250 million annually in export turnover.

Sri Lanka’s apparel exports rose 9.84 per cent YoY in July 2025 to $455.16 million, driven by a 26.69 per cent surge to the EU and 24.24 per cent to ‘Other’ markets, though the US fell 2.7 per cent.
January–July exports grew 9.09 per cent to $2.92 billion, with gains across all key destinations.
JAAF said the performance reflects adaptability, urging trade support and value addition to sustain growth.