Union Textiles Minister Giriraj Singh Textiles minister Giriraj Singh on Tuesday said the government has approved over Rs 10,000 crore production linked incentive (PLI) scheme for textiles and is now considering to extend it to the garments sector. He also said that the ministry is framing a roadmap to move ahead of China in the…
Leather and footwear exporters body CLE on Tuesday sought an extension of the Production-linked Incentive (PLI) scheme for the sector with a view to boost job creation, domestic manufacturing and shipments. In a pre-budget meeting with Finance Minister Nirmala Sitharaman, Council for Leather Exports Chairman Rajendra Kumar Jalan also urged the government to provide import…
Business-to-business (B2B) fashion marketplace Zyod has raised $18 million in a mix of equity and debt funding. The funding was led by venture firm RTP Global, while the debt capital was raised from Stride Ventures, Trifecta Capital and Alteria Capital. The “majority” of the funding was in primary equity, cofounder Ankit Jaipuria told ET. Existing…
MUMBAI: Amid persistent lobbying by Indian diamond houses and trade biggies like DeBeers, the European Union (EU) has deferred the start of a harsher sanctions regime on Russian diamonds by six months, to March 2025. A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would…
New Delhi: Multi-brand fashion retailer Shopper Stop plans to open 60 new stores under its affordable retail format INTUNE in the current fiscal, a top official has said. Through INTUNE, Shoppers Stop aims to capitalise on mass premium opportunities, disrupting India’s value fashion landscape, according to the latest annual report of the K Raheja Corp…
Aksha Mohit Kamboj The India Bullion Jewellers Association (IBJA) has appointed Aksha Mohit Kamboj as its vice president, effective June 22, 2024. Kamboj is an experienced expert in the field of bullion and jewellery. She is the executive chairman of Aspect Global Ventures and is also the co-owner of Cricket ISPL team Tiigers of Kolkata….
The local subsidiary of Swiss-headquartered shoemaker Bata has appointed Meeru Gupta as general counsel and head of legal. An alumnus of Delhi University, Gupta had served previously as Varun Beverages – RJ Corporation, where she led the legal practice, formulated litigation strategies and managed cross-border acquisitions. Over two decades veteran Gupta started her career with…
Premium luggage maker Eume has raised Rs 15 crore in a funding round led by investor Ashish Kacholia. The funds will be used to streamline operations, expand the team, drive innovation, build an offline retail presence, invest in technology and enhance brand awareness. “Today’s tier II and tier III cities are also very well exposed…
India’s jewellery retail sector has recorded rapid growth in the last five years surging from Rs 5,04, 400 crore in 2019 to 6,40,000 crore in 2024 on the back of rising incomes in the economy and greater trust in the products due to hallmarking, according to a Motilal Oswal report. Mumbai: India’s jewellery retail sector…
If it’s Belgium, why not India? New Delhi, along with the Indian diamond lobby, have sent across the message to the G7 club as the countdown begins to a sterner sanctions regime on Russian stones, beginning September 1. At a meeting in Brussels last month, the Indian trade body, senior government officials and Indian customs…
