Representative image Indian apparel exporters are expected to register a 9-11 per cent revenue expansion in FY25 aided primarily by gradual liquidation of retail inventory in key end markets and a shift in global sourcing to India, ratings agency ICRA on Monday. The long-term prospects for Indian apparel exports are favourable, aided by enhanced product…
Representative Image India’s textile industry is on the brink of expansion, with total textile exports projected to reach USD 65 billion by FY26, according to Invest India. Invest India posted on X, “PM Modi’s bold ‘#fibretofashion’ vision is guiding the #textileindustry to become a driving force in the global market while bringing competence & technology…
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…
Telecom equipment manufacturing and exports are becoming a new success story following the success of smartphone exports. In the financial year 2024, the telecom equipment production exceeded the milestone of Rs 45,000 crore with exports totaling approximately Rs 10,500 crore, supported by the production linked incentive (PLI) scheme of the Centre. According to government data…
Apple to create lakhs of jobs in India! Apple plans to shift a significant portion of its supply chain from China to India, aiming to boost local employment by three-fold to around 500,000 in the next three years. The tech giant is focusing on increasing the value addition from its Indian suppliers, following a similar…
India’s local manufacturing of electronics is expanding every year, with a significant decrease in imports of key components such as mechanics, vibrator motors, charger adapters, and plastic parts. According to commerce ministry data, imports of fully assembled electronics like smartphones dropped by 40% in the period from April to January FY 2023-24.The growth in local…
