The Centre is expected to issue a rectification order within 48-72 hours to restore the tax exemption for gold-importing banks after a notification accidentally withdrew the benefit, IBJA National Secretary Surendra Mehta said.

Textile profitability is shifting from commodity apparel towards technical, performance and smart fabrics.
Buyers increasingly value certified durability, protection and performance over fashion-led differentiation alone.
Suppliers able to deliver verifiable quality, regulatory alignment and scalable innovation are positioned to capture stronger margins and longer-term demand.

Steven Madden has reported an 18 per cent YoY rise in Q1 FY26 revenue to $653.1 million, driven by strong demand for Steve Madden and Kurt Geiger brands.
Net income rose to $71.8 million, while direct-to-consumer revenue surged 83.8 per cent.
The company raised FY26 revenue guidance to 10-12 per cent growth and introduced diluted EPS guidance of $2.55-2.65.

Carter’s has reported an 8.1 per cent rise in Q1 FY26 net sales to $681.1 million, driven by strong demand across retail, wholesale, and international channels.
US retail comparable sales rose 10.5 per cent.
Operating margin improved slightly to 4.2 per cent, though profitability was pressured by tariffs and inflation.
For FY26, it projects low single-digit to mid-single-digit growth in net sales.

“EBITDA for the quarter was Rs 152 crore, representing a 53 per cent Y-o-Y growth, with EBITDA margins at 8.4 per cent, despite a conscious increase in marketing expenditure, the initial gestation costs of our rapidly expanding retail footprint and investment in the digital transformation initiative,” said Raymond Lifestyle in its earnings statement.

Raymond Lifestyle Limited has reported record FY26 performance, with total income rising 11 per cent YoY to ₹7,034 crore (~$746.87 million) and EBITDA increasing 23 per cent to ₹804 crore (~$85.37 million).
Q4 income grew 15 per cent, driven by strong demand across branded textiles, apparel, and garmenting.
The company highlighted benefits from the US-India trade deal.

Prada Kolhapuri controversy: The latest collection from high-fashion label Prada has ignited a firestorm in India again. This comes a year after their initial line caused a big copying row. Now, the brand’s attempt at damage control has come under severe scrutiny in India.

Neopolis Brands, founded by former Arvind Fashions MD & CEO Shailesh Chaturvedi, is in talks to raise Rs 100 crore from investors like Ashish Kacholia. The company plans to build a portfolio of global fashion accessory brands for the Indian market, starting with a partnership for Italy’s Carpisa bags.

Sri Lanka’s garment exports fell 8.2 per cent YoY to $1.18 billion in Q1 2026, while textiles and other textile articles also declined.
March exports dropped 11 per cent, reflecting weak demand.
Despite this, textiles and apparel made up 47.2 per cent of industrial exports.
Imports rose modestly, while full-year 2025 exports had shown growth.

With commercial LPG prices on the rise, Indian textile exporters in Tiruppur and Noida are feeling the financial pinch. As they struggle to maintain profitability, global buyers continue to negotiate for cheaper products, complicating efforts to offset the surging expenses.