Apparels

India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry budget allocation and production-linked incentives.

Gold and silver demand in 2025 will be influenced by global factors. Gold demand is driven by concerns over European debt, geopolitical instability, and central bank buying. Silver demand will increase due to industrial uses in green economy applications, including photovoltaics and EVs. Rate cuts, Chinese recovery, and silver ETF inflows are additional positive factors.

Retailers of apparel and footwear industry are anticipating strong demand in the coming months. Buoyed by the festive season, an increased number of wedding dates, and signs of improving consumer sentiment, the industry is looking forward to a positive second half of FY25, says a report by Phillip Capital.

India’s fast fashion industry is poised for intense competition, fueled by Reliance Retail’s recent collaboration with Chinese giant Shein. Following Zudio’s success and the lifting of Shein’s ban, Reliance aims to dominate the market. Strict regulations ensure local control while promoting domestic manufacturing and potential job creation.

Industry experts seek initiatives that can uplift the sector, elevate exports and position India as a global trading hub for diamonds and coloured gemstones.

Cascale, formerly the Sustainable Apparel Coalition, partners with FASHION LEAP FOR CLIMATE to accelerate science-based target adoption in fashion.
The collaboration offers an 8-week program to guide brands in measuring carbon footprints and setting targets.
This aligns with Cascale’s goal of 80% target adoption among members, driving meaningful climate action in the industry.

Carter’s, Inc. CEO Michael D. Casey retires after 30 years with the company. Richard F. Westenberger is interim CEO, while William J. Montgoris becomes Non-Executive Chairman.
Casey will advise until February 2025.
A search for a new CEO, focused on external candidates, is underway.
The Board praised Casey’s leadership in strengthening Carter’s market position.

Australia’s apparel and clothing accessories imports rose 6.65 per cent to $5.561 billion during July-November 2024.
Textile yarn and fabrics imports grew by 5.86 per cent, while fibre imports fell by 9.09 per cent.
November 2024 saw a 13.93 per cent increase in apparel imports.
However, textile fibre exports decreased by 9.97 per cent to $3.485 billion, with a 10.83 per cent drop in November.

Swiss watch brand Favre Leuba targets India as its primary market for a global relaunch, partnering with retailer Ethos. The brand aims to leverage its historical presence in India since 1865.

Projected to reach USD 130 billion by 2030, the Indian gem and jewellery market is set for rapid growth. GJEPC collaborates with De Beers for natural diamond promotion and signs an MoU with DHL for efficient e-commerce shipping. Plans for an export hub in Singur aim to boost local artisans and meet global demand.