Apparels

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.

Concerned over the tariff on garment exports to the US, apparel exporters in Bangladesh recently cautioned that the sector could face an average monthly duty burden of $250 million unless the duty is permanently withdrawn.
Close to 1,000 factories may struggle to survive, industry leaders say.
While buyers are traditionally responsible for tariffs, many are now passing the cost onto suppliers.

American Apparel & Footwear Association (AAFA) has criticised the US Trade Representative’s move to impose phased fees on Chinese vessels and tariffs of 20 to 100 per cent on shipping equipment following a Section 301 probe.
AAFA, which testified against the plan, warns the measures will hurt US farmers, workers, and the wider economy by disrupting trade and raising consumer costs.

Rising gold prices in India are driving consumers to exchange old jewellery for new, with exchanges comprising 40-45% of purchases. While wedding and festive demand persist, investment in gold bars and coins is increasing due to its safe-haven appeal. Major retailers report strong revenue growth and plan further expansion, anticipating continued positive consumer sentiment.

India’s gems and jewellery industry is expected to surge from $83 billion in 2024 to $128 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.5 per cent, a report showed on Monday.