Indian Minister Piyush Goyal and EU Commissioner Maros Sefcovic met to discuss a Free Trade Agreement, aiming for greater market access.
India’s garment exports to the EU reached $5.410 billion in Jan–Oct 2024, with a 3.63 per cent share.
Despite some fluctuations due to Covid-19 and the Russia-Ukraine war, EU apparel imports totalled $192.397 billion in 2023.

Adidas has reported Q4 2024 revenue of €5,965 million (~$6,215.5 million), up 24 per cent YoY, with currency-neutral growth of 19 per cent.
Gross margin rose to 49.8 per cent, and operating profit reached €57 million (~$59.42 million).
Full-year revenue grew 12 per cent currency-neutral to €23,683 million, with operating profit up €1 billion to €1,337 million.

While many brands in the garment and footwear sector have committed to multi-stakeholder initiatives aimed at addressing living wages, there remains limited evidence of real-world impact, a Platform Living Wage Financials report found.
Nearly three quarters of assessed companies disclosed the names and locations of their tier-1 suppliers, indicating progress in supply chain transparency.

Gold prices rose by 1% on Tuesday due to a weakening dollar after US President Trump’s policy announcements. This led to a pause in gold purchases by Indian consumers. The industry is cautious as further dollar weakening could push prices higher. Jewellers are waiting for price stability and clarity on Trump’s tariffs, impacting sales and customer behavior.

Oman seeks enhanced trade ties with China and hopes for a swift GCC-China FTA finalisation.
China’s apparel exports to Oman have declined steadily, from $242.050 million in 2021 to $99.445 million in 2023, with 2024 unlikely to match prior years.
Fabric exports also dropped, from $46.397 million in 2021 to $34.290 million in Jan-Nov 2024, reflecting a downward trend in textile trade.

China’s luxury market experienced an 18-20% decline in 2024, signaling an end to its exponential growth, with sales stagnating this year. Despite stimulus measures, consumer confidence remains low due to a property crisis and employment concerns. Competitive pricing on e-commerce platforms also impacts traditional luxury shopping destinations like Hainan.

Puma’s Paris Fashion Week takeover offers four days of events, including product previews, customisation workshops, exhibitions, and parties.
Highlights feature Studio Hagel’s workshop, Cold Archive’s tattoo and rave-inspired exhibit, Uniform Display’s backstage runway experience, and Hart Copy x Inside Tag’s showcase of rare Puma models, celebrating the Mostro era and design history.

Cambodia’s apparel exports surged 24.44 per cent to $9.791 billion in 2024, contributing 37.37 per cent of total foreign income.
Knitted apparel exports grew 21.2 per cent, and non-knitted rose 31.9 per cent.
Imports of fabrics and fibres, including knitted, man-made fibres, and cotton, also saw significant growth.
Despite global challenges, Cambodia showed resilience.

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.