New Delhi: Driven by India’s inherent strengths and a strong policy framework that encourages investment and exports, the textiles sector in the country is expected to grow to $350 billion by 2030, the Centre said on Thursday. The textiles sector is set for significant expansion, with an 11 per cent growth in ready-made garments (RMG)…
Representative image New Delhi: Steps taken under the government’s flagship initiative Make in India in September 2014 are helping boost domestic apparel manufacturing and increasing exports, AMHSSC Chairman A Sakthivel said. The Apparel, Made-Ups and Home Furnishing Sector Skill Council (AMHSSC) aims to promote skilled manpower in the sector by designing training programmes based on…
Record imports push trade deficit to near all-time highNEW DELHI: India’s trade deficit neared record level in Aug as a surge in gold shipments pushed up monthly imports by 3.4% to an all-time high of $64.4 billion, while exports fell 9.4% to $34.7 billion.As gold imports more than doubled to a new high of over…
Mumbai: The overall gem and jewellery exports witnessed a 23.28 per cent year-on-year decline in July to USD 1,665.4 million on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC — the apex body for the gems and jewellery industry…
Representative photo India’s apparel exports clocked a robust growth of 11.85 per cent in July on the back of strong demand in the US and European markets, according to data compiled by the Confederation of Indian Textile Industry (CITI). Apparel exports shot up to $1,277.20 million during July this year from $1,141.95 million in the…
Nearly 200 diamond cutting and polishing factories in Surat will suspend operations for 10 days from August 18 to bring down inventory levels as exports to key markets of China and US are not picking up. China has been buying only gold since Covid-19 while the US has slowed down purchase of natural diamonds. Meanwhile,…
NEW DELHI: Bihar’s Hajipur is gaining recognition for producing safety shoes for the Russian army and designer shoes for European markets. Competence Exports, a private limited company based in Hajipur, has been manufacturing these shoes since 2018 with the primary goal of creating local employment opportunities.Last year, the company exported 1.5 million pairs of shoes,…
Representative Image Apparel exporters on Monday sought fiscal incentives including cut in customs duties and fund support in the forthcoming Budget to boost the outbound shipments from the sector. Finance Minister Nirmala Sitharaman is scheduled to present the Budget on July 22. The Apparel Export Promotion Council (AEPC) suggested the government should increase the rates…
NEW DELHI: Tripura‘s agriculture and farmers welfare minister, Ratan Lal Nath, marked a milestone in the state’s agricultural exports by flagging off a consignment of 600 kg of queen pineapples bound for Oman at Agartala Railway Station on Thursday. The shipment is set to travel through Guwahati before being flown to Oman.At the flagging-off ceremony,…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
