In the Marathwada region’s Dharashiv (Osmanabad) district, Maharashtra is establishing its first technical textile park. In Kaudgaon MIDC, the textile park will be built over 308 acres, and a plan worth Rs. 118 crore (US $ 13.76 million) has been created for it.
The first phase of the project, worth Rs. 16 crore (US $ 1.86 million) has already started, which was inaugurated by BJP MLA Rana Jagjitsinh Patil. Numerous well-known businesses from over the globe are contributing crores to this initiative, which will lead to the employment of many Dharashiv residents. The Kudgaon region is strategically placed to have this textile park. It is located 13 km from Dharashiv city as well as Dharashiv railway station and has excellent connectivity to major road networks, with SH 65 Dharashiv-Barshi at a 3km distance. Kaudgaon MIDC gets electricity from an MSEDCL 33/11 KV substation located at a distance of 5km and there is a 50MW solar park of Mahagenco present in the proximity of the textile park. A Reliance gas pipeline of 600 mm diameter is available adjacent to the park. The Ujani dam is a source of water for the park with a provision for 20 MLD water supply.
Source: Apparel Resource
India is seeking a binding commitment from the US on pre-April 2 tariff levels for labour-intensive sectors as part of an early tranche of the proposed bilateral trade agreement.
This would involve doing away with the universal 10% tariff imposed by the Trump administration.
Source: Business Standard
India and the European Union are working to finalize the Free Trade Agreement talks before the deadline. Piyush Goyal met Maros Sefcovic multiple times to speed up negotiations. India-Italy bilateral trade is currently suboptimal. India proposed an industrial enclave for Italian companies in India. The aim is to boost trade, investment, and tourism between the two nations. Brescia: India and the EU will beat the expectations of their leaders and are trying to conclude the Free Trade Agreement (FTA) talks ahead of the year-end deadline, commerce and industry minister Piyush Goyal said Thursday. In February this year, Prime Minister Narendra Modi and European Union Chief Ursula von der Leyen announced that the India-EU FTA will be reached by the end of 2025. Goyal has already met the European Commissioner for Trade Maros Sefcovic thrice in 35 days, the latest one being on June 2 in Paris. "We have held three meetings in 35 days. We are trying to speed up the negotiations. It shows our shared commitment for the FTA," Goyal said. The first two meetings between Goyal and Sefcovic were held on May 1 and May 23 in Brussels.
TIES WITH Italy Goyal said India-Italy bilateraltrade is low and suboptimal, and both sides need to work to boost two-way commerce. Currently, bilateral goods trade between the two countries is about $15 billion. "We want to increase trade, investment, and tourism," Goyal said. India has proposed to set up an industrial enclave for Italian companies which do business in the country, commerce and industry minister Piyush Goyal said Thursday. "We want to create a home away from home for Italian companies. We want an Italian enclave in one of the industrial smart cities in India," he said at the Italy-India Strategic Economic Partnership forum.
Source: The Economic Times
Commerce and Industry Minister Piyush Goyal proposed developing industrial conclaves in India for Italian businesses to boost investments. He suggested setting up manufacturing units and offices in these enclaves, offering a 'home away from home' environment with amenities like hotels and healthcare. Commerce and Industry Minister Piyush Goyal on Thursday proposed to develop an industrial conclave for Italian businesses in India to promote investments. Speaking here at India-Italy Business Forum meeting, he said Italian companies can consider setting up manufacturing units and offices in those enclaves. "I have a proposition for you. We can set up Italian enclaves where Italian businesses can set up shops... we can set up hotels, restaurants, healthcare for Italian people who would come to work there. It will be home away from home for them," Goyal said.
These industrial parks can be set up in the proposed industrail corridors in different parts of the country. The minister is here on a two-day visit. He is meeting leaders and businesses to boost trade and investments between the two countries.
India would invite Italian companies to certain locations in India such as Dighi near Mumbai and Sambhaji Nagar (Aurangabad) in Maharashtra to showcase potential locations for these enclaves. The government has announced to invest about Rs 28,000 crore to set up 12 industrial nodes, and build 100 industrial parks in the country. These industrial areas will be located at Khurpia in Uttarakhand, RajpuraPatiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in Andhra Pradesh, and Jodhpur-Pali in Rajasthan.
Source: The Economic Times
The United States boosted its textile-clothing imports by 9.4% in the first quarter (January-March 2025). This increase is explained by the then uncertain prospect of new customs taxes, which Donald Trump finally announced on April 2. This acceleration mainly benefited Asian suppliers, up 15.4%, to the detriment of China, Latin America, and the European Union. Over the first three months of the year, the United States imported $26.9 billion worth of goods, including $20 billion worth of clothing (+10.9%) and $6.9 billion worth of textiles and materials (+4.9%). However, the countries most targeted by Donald Trump at the beginning of the year did not benefit from this last-minute acceleration, with principals likely anticipating the trade war promised by the Republican president.
China is one of the countries not to benefit from this early-year acceleration. As the leading supplier of textiles and clothing to the United States, China's sales rose by just 3.6% over the period. At a time when other key Asian suppliers have seen significant increases. These include Vietnam (+14%), India (+20%), Bangladesh (+25%), Indonesia (+20%), Cambodia (+15.8%), and Pakistan (+10.5%).
The European Union, the USA's sixth-largest supplier, remained stable in terms of textile-clothing exports to the USA, with 1.3 billion euros worth of goods shipped over the quarter. Italy, which alone ranks tenth among suppliers, even saw a contraction of 2.7%, ahead of Portugal (+0.9%) ranked 23rd and France (-1.9%) ranked 29th.
Mexico, the United States' 8th-largest supplier of textiles and apparel, posted a positive variation of just 1% over the quarter. The Trump administration's repeated attacks on Latin America as a whole also partly explain the falls experienced by Honduras (-10%), Nicaragua (-5.6%), Guatemala (-1%), and El Salvador (-11%). Only Peru seems to be doing well, with orders up 25%.
Vietnamese garments and European textiles lead the way
If we look solely at the ranking of clothing suppliers, the figures show that China, the leading supplier in 2024, falls behind Vietnam in the first quarter of 2025, with a gap of almost $300 million. Mexico also posted 2.6% growth in this specific market.
In terms of fabric imports, the EU leads the way with $278 million worth of materials, at a stable level. However, the Old Continent was followed by China, which grew by 2%, to within three million dollars. Their first challenger, India, came in at just 174 million, but posted growth of 12.5%. This followed a 22% drop in 2023, when orders were massively reduced at the end of the health crisis.
Source: Fashion Network
Tariffs and shifting trade policy dominated the US manufacturing sector in May 2025, according to the latest S&P Global US Manufacturing Purchasing Managers’ Index (PMI) report. The seasonally adjusted PMI rose to 52, up from 50.2 in March and April. Firms rushed to place orders and build inventories ahead of expected tariff-related cost hikes. Domestic demand drove a sharp rise in new orders. International sales, on the other hand, remained weak, with only a slight rebound after a sharp drop in April. The accumulation of input inventories surged to a record level in the survey’s 18-year history, underscoring industry efforts to build buffers against looming trade-related uncertainties. Stocks of finished goods also increased for the first time since November 2024. “The rise in the PMI during May masks worrying developments under the hood of the US manufacturing economy. While growth of new orders picked up and suppliers were reportedly busier as companies built up their inventory levels at an unprecedented rate, the common theme was a temporary surge in demand as manufacturers and their customers worry about supply issues and rising prices," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a release. Despite stronger demand, production volumes were marginally reduced for the third consecutive month, as existing capacity proved sufficient to handle the inflow of new and pending orders. This was reflected in another decline in backlogs of work. Although price inflation eased slightly to a three-month low, it remained elevated, driven by suppliers passing on tariff-related costs. Factory gate prices also rose at their fastest pace since November 2022 as firms adjusted output charges to protect margins. Supply chain strain persisted, with delivery times lengthening to the greatest extent since October 2022. Vendors faced growing stock shortages, compounding delays and contributing to production headwinds. Employment levels saw a modest uptick – the first net gain in three months – as firms cautiously expanded labour capacity. However, hiring progress was hindered by difficulties in finding suitably skilled workers to fill open roles. Looking ahead, manufacturers expressed improved sentiment, with business confidence in May reaching a three-month high and slightly exceeding the survey’s long-run average.
“Encouragingly, manufacturers regained some optimism in May after sentiment had been hit hard by tariff announcements in April, partly reflecting the pauses on new levies. However, uncertainty clearly remains elevated amid the fluid tariff environment, and factories have so far shown a reluctance to expand headcounts in the face of such volatility," Williamson said.
Source: The Economic Times
The European Commission has confirmed that Bulgaria is ready to adopt the euro on January 1, 2026, marking a historic milestone as it prepares to become the twenty-first Member State in the euro area. This conclusion, detailed in the 2025 Convergence Report, finds that Bulgaria meets all four nominal convergence criteria and has aligned its legislation with EU requirements.The report, requested by Bulgarian authorities in February 2025, was published alongside the European Central Bank’s (ECB) own Convergence Report. It also considers Bulgaria’s economic integration, including trade, labour, and financial markets, the European Commission said in a press release. Ursula von der Leyen, President of the European Commission said: “The euro is a tangible symbol of European strength and unity. Today, Bulgaria is one step closer to its adoption as currency. Thanks to the euro, Bulgaria's economy will become stronger, with more trade with euro area partners, foreign direct investment, access to finance, quality jobs and real incomes. And Bulgaria will take its rightful place in shaping the decisions at the heart of the euro area. Congratulations, Bulgaria!”. Following the report, the Commission has adopted proposals for a Council Decision and Regulation on Bulgaria’s euro adoption. The final approval will come from the Council of the EU after consultation with the European Parliament, the ECB, and discussions within the Eurogroup and European Council.
Source: Times of India
