In a significant setback for Mehul Choksi, wanted in connection with the $2-billion Punjab National Bank fraud, a Belgian Court has denied his bail plea, citing concerns about him evading law enforcement. The court highlighted Choksi’s history of fleeing India and acquiring Antiguan nationality, dismissing his health concerns and rejecting the offer of a GPS tracker.

Retail prices touched ₹1,03,000 for 10 gm of gold with a 3% goods and services tax (GST), an occurrence which does not augur well for sales on Akshaya Tritiya, an annual Hindu and Jain spring festival when it is considered auspicious to buy gold. Akshaya Tritiya falls on April 30 this year.

MyDesignation, a fashion and lifestyle D2C brand, has secured $1.25 million in seed funding led by Multiply Ventures. The company plans to utilize the capital to accelerate hiring, enhance technology, expand offline presence, and venture into new regions.

India’s export of leather products and non-leather footwear rose by about 25 per cent YoY to $5.7 billion in FY25 and the shipments are likely to cross the $6.5 billion mark this fiscal, according to the Council for Leather Exports.
The sector can reach a total turnover of about $39 billion by 2030, which includes domestic production of $25 billion and export turnover of $13.7 billion.

Gold prices in India have soared, reaching ₹1 lakh per 10 gm at the retail level, ahead of Akshaya Tritiya. Despite rising prices, the jewellery trade anticipates strong demand for gold as an investment. Experts suggest that tariff tensions, US economic concerns, and central bank buying are fueling the rally.

​”In the last 11 years, there has been an increase of 447 per cent in sales, 347 per cent in production and 49.23 per cent in employment generation,” it added.

India sees an opportunity to boost textile and apparel exports to the US amid rising tariffs on Chinese goods.
China still dominates the US market with a 25 per cent share in textiles, vastly outpacing India across key product categories.
An analysis by CITI highlights top HS codes where India could target gains.
Even modest market penetration could significantly elevate India’s presence in the US.

Suditi Industries has appointed Harsh Agarwal as the new CEO of Gini & Jony, succeeding founder Prakash Lakhani, who will transition to a mentorship role. Agarwal aims to build upon the brand’s 45-year legacy and core values while leading Suditi Industries’ transformation into a consumer-focused retail entity. He emphasizes innovation and adapting to the rapidly changing market.

IAF has warned against the damaging impact of US punitive tariffs on global apparel supply chains, especially affecting China.
While welcoming a partial pause, IAF has stressed that tariff uncertainty continues to destabilise the industry, discourage investment, and threaten livelihoods.
It has called for collaborative, sustainable supply chain strategies and urges brands to honour commitments.

India’s leather, non-leather footwear, and product exports surged by approximately 25% to $5.7 billion in 2024-25, according to the Council for Leather Exports (CLE). Driven by healthy demand in developed and developing nations, shipments are projected to exceed $6.5 billion in the current fiscal year.