Commerce Minister Piyush Goyal reassured exporters of safeguarding India's interests in the US Bilateral Trade Agreement. He urged against protectionism, encouraged industry input on export-promotion, and discussed measures to counter Chinese dumping. With plans to surpass $800 billion exports, Goyal highlighted ongoing efforts to finalize beneficial trade agreements and ensure market access for Indian goods and services.
Source: The Economic Times
In 2024, China and India surpassed global trade norms, driven by developing economies and robust services trade. Despite record expansion, the UN Trade and Development warns of rising protectionism and emerging trade imbalances. As geopolitical tensions and shifting policies threaten stability, balanced policies and global cooperation are crucial for maintaining long-term growth and preventing economic fragmentation. It said that trends like the widening deficits of the US and EU with China along with India’s rising deficit with Russia amid shifting energy trade could prompt new tariffs, restrictions, or investment shifts, adding to economic uncertainty.
Source: The Economic Times
Commerce Minister Piyush Goyal on March 14, 2025, said that he had a "forward looking" discussion with US Trade Representative Jamieson Greer on a mutually beneficial bilateral trade agreement. "Our approach will be guided by 'India First', 'Viksit Bharat' and our Comprehensive Strategic Partnership," the commerce minister wrote on his X timeline. Commerce Minister Piyush Goyal was in the US last week. His visit to the US followed US President Donald Trump and PM Modi's plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025.
Source: The Economic Times
Micro, small and medium enterprises (MSME) industry bodies have requested the Reserve Bank of India (RBI) for certain changes in the regulations for ecommerce exports. These MSME bodies met the central bank in Ahmedabad, Gujarat, last week.
“The industry bodies told the RBI that the current system of manually matching shipping bills with inward remittances (IRMs) is impractical for high-volume ecommerce exports,” an industry source privy to the development said.
The source noted that they have requested the RBI to develop an automated reconciliation system within the Export Data Processing and Monitoring System (EDPMS), leveraging artificial intelligence (AI).
Source: The Business Standard
Targeting a land bank of 150,000 acres by 2027 for industrial use, the Uttar Pradesh (UP) government has tagged 450 acres from six closed textile mills.
The land parcels will be acquired by the UP State Industrial Development Authority (Upsida).
These six mills of the UP Cooperative Spinning Mills Federation -- located in Sitapur, Fatehpur, Prayagraj, Ghazipur, Farrukhabad, and Bulandshahr districts -- have been lying defunct for over 20 years.
Source: The Business Standard
New York – Looking to carve out a unique niche as importers pursue China diversification, Taram Textiles has zeroed in on a category where it can make inroads.
The Indian textiles manufacturer has developed a range of rayon from bamboo sheeting to tap into two enduring trends: consumers’ embrace of “bamboo” products and the popularity of cooling sheets.
Taram believes bamboo sheeting already has high credibility with American shoppers.
Source: Home Textiles Today
Stuttgart, Germany - Global Standard hopes to bring its considerable knowledge and leadership skills to the Make the Label Count coalition with a commitment to ensuring perspectives from all parts of the supply chain are considered and integrated.
Make the Label Count is an international assembly of stakeholders in the natural fibre industry, which encompasses producers, manufacturers, brands, standards organisations, and environmental advocates.
The organisation’s involvement is part of a broader effort to address the issue of greenwashing in the industry and to support consumers in making educated choices about their textile purchases.
Source: Just Style
ISLAMABAD: Following the imposition of off-the-grid levy on the captive power plants (CPPs) causing a hike of Rs791 per MMBTU in their gas tariff to Rs4291 ($15.38) per MMBTU, the textile export of $18 billion are at risk.
The All Pakistan Textile Mills Association (APTMA) conveyed this in a letter written to Prime Minister Shehbaz Sharif on March 14, 2025, asking for immediate intervention to save the industry. The letter provided the way forward to the premier seeking gas supply at the RLNG ring-fenced price with no cross-subsidies or levies.
Source: PK News
