The Federation of Indian Export Organisations, along with the International Trade Centre and UK government support, launched the She Trades India Initiative Hub. This initiative aims to empower women entrepreneurs by providing workshops, mentoring, business matchmaking events, and policy advocacy to help them access international markets and development opportunities. Director general of foreign trade Santosh Kumar Sarangi said FIEO and ITC should look at enrolling 3 lakh women entrepreneurs through this initiative.
Source: The Economic Times
India is considering offering new incentives to exporters to counter the decline in outbound shipments and potential impact of reciprocal tariffs by the US. The proposed ₹2,250 crore Export Promotion Mission aims to boost exports, despite a recent decline in India's goods exports. The government hopes to achieve $800 billion in goods and services exports this fiscal year.
Source: The Economic Times
India and the US are planning to negotiate a trade agreement and both countries will focus on increasing market access, reducing import duty and non-tariff barriers, and enhancing supply chain integration, Parliament was informed on March 11, 2025.
In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said that as on date, reciprocal tariffs have not been imposed by the US on India.
The US issued Memorandum on Reciprocal Trade and Tariffs on February 13, wherein the Secretary of Commerce and United States Trade Representative are to take necessary actions to investigate harm to America from any non-reciprocal trade arrangements adopted by trading partners and provide a report with detailed proposed remedies for each trading partner. During the visit of Prime Minister Narendra Modi to Washington last month, India and the US announced their commitment to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by fall of 2025.
At present, India is a member of 13 FTAs and 9 PTAs apart from the negotiations with the EU, the UK, and Oman.
Source: The Economic Times
The government has signed or received investments to the tune of Rs 18,500 crore as part of the proposals that have been received under the PM MITRA Park scheme which aims to boost production, employment and exports in the textiles sector, the Lok Sabha was informed on March 11, 2025. With a view to develop integrated large scale and modern industrial infrastructure facility for entire value-chain of the textile industry, the Centre has approved setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with scheme outlay of Rs 4,445 crore for the period 2021-22 to 2027-28. The government finalised seven sites -- Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow) and Maharashtra (Amravati) -- for setting up PM MITRA Parks. Once completed, it is expected that each PM MITRA Park will attract about Rs 10,000 crore investment and generate about 3 lakh (both direct and indirect) employment opportunities, Union Textiles Minister Giriraj Singh said in a written reply in the Parliament.
Source: ET Manufacturing
In order to increase investments, generate job opportunities and boost exports in textile sector, the Ministry of Commerce and Industry is constructing three textile parks — each at Anatapuramu, Nellore and Guntur — in Andhra Pradesh with more than ₹310 crore under Scheme for Integrated Textile Park (SITP). One park has been already completed at Visakhapatnam with ₹134.41 crore. Minister of State (MoS) for Commerce and Industry Jitin Prasada said this in Lok Sabha in reply to a question by Nellore MP Vemireddy Prabhakar Reddy on the support from Union government to promote industrial development in the State. He informed that the Centre comes out with several initiatives and policies to promote industrialisation in A.P.
Source: The Hindu
The number of startups in India’s textile sector has seen a steady increase over the past five years, according to Union Minister for Textiles, Giriraj Singh. In a written reply to a question in the Lok Sabha on Tuesday, Singh revealed that the number of new entities recognized as startups in the textile industry by the Department for Promotion of Industry and Internal Trade (DPIIT) has risen significantly, from 204 in 2020 to 703 in 2023, and 765 in 2024.
Under the ‘Startup India’ initiative, the government has introduced several key schemes to support startups across various sectors, including textiles. These include the Fund of Funds for Startups (FFS), the Start-up India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS), all aimed at providing assistance to startups at different stages of their business cycle.
Source: DD News
Vietnam has officially signed the Multilateral Competent Authority Agreement (MCAA) on the exchange of country-by-country reports (CbCR), implying that the European Union (EU) will not impose tax and non-tax defensive measures against the country, contributing to enhancing its international reputation and creating a favourable environment for domestic businesses.
Vietnam became the 107th signatory of the CbC MCAA.
The signing was done after Vietnamese Deputy Prime Minister Bui Thanh Son approved the decision, which aligns with the review conducted by the Secretariat of the Global Forum under the Organization for Economic Cooperation and Development (OECD). The signing is an appropriate step to ensure the implementation of the global minimum tax according to the planned roadmap. It also reaffirms Vietnam's commitment to enhancing financial transparency and international economic integration, according to Vietnamese media outlet.
Source: Fibre2fashion
Vietnam earned nearly 3.2 billion USD from textile and garment exports in the first two months of this year, up 1.8% from the same period last year.
Many enterprises have already secured orders until the second quarter, and some even until the third quarter. Corporation 28’s exports of textile and garment rose 10% and 7% respectively.
Experts predict Vietnam’s textile and garment exports will continue to grow thanks to the recovery of key markets such as the US, Europe, and Japan.
"As the global economy recovers, the demand for textiles and garments is increasing. Digital transformation, green transition, and diversification of raw material sources have also enhanced the competitiveness and export value of Vietnamese textile and garment products," said economist Ngo Minh Hai.
Vietnam targets 48 billion USD in textile and garment export revenue this year.
Source: VOV World
