Commerce and Industry Minister Piyush Goyal, during his visit to Brussels, asserts India’s commitment to protecting small and medium enterprises in the diamond industry by requesting the EU to extend the deadline for technology-based certification. He emphasizes India’s dedication to a fair Free Trade Agreement and encourages European investors to explore opportunities in India.

Jewellery demand in India is expected to recover mid-January due to weddings and price stability. 2024 saw a record inflow into gold ETFs, bolstered by global uncertainties and equity market volatility. Gold’s performance in November and December mirrored these trends, despite some fluctuations.

Krvvy, a women’s functional innerwear and shapewear startup, has secured Rs 6.1 crore in pre-seed funding led by Titan Capital and All In Capital. Founded by Yash Goyal and Anant Bhardwaj in 2024, the brand will use the funds for R&D to expand its product range and market presence across India.

The seasonally-adjusted US consumer price index for all urban consumers (CPI-U) rose by 0.4 per cent month on month (MoM) in December after rising by 0.3 per cent MoM in November.
Over the last 12 months, the all items index rose by 2.9 per cent before seasonal adjustment.
The seasonally-adjusted apparel CPI-U rose by 0.1 per cent MoM and the unadjusted figure rose by 1.2 per cent YoY in December.

The textiles ministry in New Delhi is expected to receive a 15% increase in allocation for FY26, reaching around ₹5,080 crore, with a significant rise in budgetary funds for the Production Linked Incentive (PLI) scheme. The government aims to expand domestic manufacturing and generate significant growth in textiles exports by 2047.

In November 2024, UK clothing exports fell 17.87 per cent year-on-year to £294 million, with textile fabric exports down 4.04 per cent to £237 million.
Q3 2024 clothing exports totalled £771 million, down from £927 million in Q3 2023.
In 2023, clothing exports dropped to £3.772 billion, while textile fabric and fibre exports were £2.737 billion and £667 million, respectively.

South Korea’s apparel imports rose 3.12 per cent to $12.366 billion in 2024, driven by knitted ($5.083 billion) and non-knitted apparel ($7.283 billion).
December imports reached $935.544 million, up 11.44 per cent year-on-year.
Exports of man-made textiles (Chapter 54) fell to $1.987 billion, and knitted fabrics (Chapter 60) eased to $1,713.855 million in 2024.

Donald Trump’s return to office is set to reshape US trade policies, with steep tariff hikes on Chinese imports and other exporting nations.
Apparel imports, which peaked under both Trump and Biden, face uncertainty.
Inflation concerns may lead to prices of clothing rise by 20 per cent.
Vietnam, Bangladesh, and India could benefit from China’s losses, but trade barriers remain a challenge.

India’s apparel retail market is expected to grow with e-commerce increasing by 17 per cent y-o-y in FY25 and brick-and-mortar by 7 per cent.
Fast fashion, luxury, and ethnic segments are expected to outperform.
EBITDA margins will remain stable in FY25, improving in FY26 due to cost optimisation.
Store expansions will focus on fast fashion and ethnic formats, with a slow pace of growth.

Richemont, owner of Cartier, reported a 10% year-on-year increase in Q3 sales, significantly surpassing expectations. This growth suggests a potential recovery in the luxury sector, despite challenges in the Chinese market. The company’s performance lifted shares and provided optimism for the high-end market during the holiday season.