Cotton textile and garment exporters expect an 8-10% rise in outbound shipments in the next few months with the holiday season in the developed markets expected to bring relief even as apparel export slump continues with order deferments and requests for price cuts. Inflation and economic slowdown in advanced economies, coupled with piled up inventory…
Representative Image With Indian consumers continuing to go slow on discretionary spending amid sticky inflation, companies across segments in the country are reporting tepid numbers. Lukewarm demand trends have become the norm for businesses ranging from fashion retailers to quick service restaurant (QSR), ToI reported on August 17. The demand situation is posing a challenge,…
NEW DELHI: Isro chief S Somanath said that the separation of Chandrayaan-3’s lander module Vikram went as planned as the agency completed a significant step in India’s lunar mission on Thursday. Following the success of the latest maneuver, the Isro chief said that he is happy with the progression of the mission so far, Times…
Bata India is in talks with Adidas for a strategic partnership that could likely boost the German sportswear maker’s presence in the south Asian country, CNBC-TV18 reported on Thursday. Bata India’s shares ended 5.3% higher, logging their best day since April 2020. Shares rose as much as 7.3% earlier in the session. Adidas was up…
Exports of lab-grown diamonds have slumped 28.57% year on year in the first four months of the current fiscal despite government backing, but industry insiders expect numbers to pick up this month onward after a price correction in July. Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed…
Japanese apparel retailer Uniqlo now plans to enter the southern market to open its stores as part of the next phase of offline expansion in India. Uniqlo India on Wednesday announced to launch its second store in Mumbai as part of the strategic expansion of its retail network in the country. The retailer, which forayed…
Representative Image India’s jute industry is set to see revenue fall 5-6% this fiscal because of lower exports, marking the second consecutive year of decline, according to CRISIL Ratings. However, domestic demand is expected to be stable. Operating margin is seen down 200-250 basis points to 5% as exports, which are more profitable, would be…
Two European defense manufacturing giants are seeking to win a 400 billion rupee ($4.8 billion) order to build submarines in India as the South Asian nation looks to strengthen its navy to counter China’s expanding naval presence in the Indo-Pacific region. Indian officials are currently evaluating competing bids to build six of the vessels in…
Vande Bharat trains will increasingly have indigenous components, with the Modi government looking at a new PLI or Production Linked Incentive Scheme for train parts. In a bid to attract foreign manufacturing firms and lessen import reliance, the government is set to roll out a PLI scheme for train component manufacturers, an ET report said….
Danish jewellery maker Pandora on Tuesday raised its full-year revenue outlook as it reported better-than-expected second-quarter sales helped by an improved performance in the U.S. and China. “Given our solid performance so far, our updated guidance now sees another year of positive organic growth,” CEO Alexander Lacik said in a statement. Pandora said it now…
