India's fashion and apparel industry is expected to generate US $ 146.3 billion by 2032, which means there is an increasing need for high-end trims, imaginative elements, and original design solutions.
Business News
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Sabyasachi couture has appointed Manish Chopra as its new CEO. With this new joining, Chopra, who was the senior leader at Reliance-owned SHEIN India, will be looking at scaling the operations of Sabyasachi - the company that had sold its 51% stake in 2021 to Aditya Birla Fashion and Retail Limited (ABFRL).
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RK Jalan, the Council for Leather Exports chairman, talked about Taiwan and Vietnam’s recent interest in the investment in India’s non-leather footwear segment. Jalan also stressed the importance of government support to facilitate the investment, which he said can further boost the country’s industrial growth and job opportunities in this sector.
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Customs officials at Chittagong port have confiscated a container containing bed sheets and sofa fabrics valued at approximately Taka 3 crore, after uncovering an attempt to illegally release the consignment using forged documents and evading customs duties.
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Trade Data
40% local value rule puts Bangladesh’s woven exports at risk as Dhaka-Washington tariff talks continue
As Bangladesh and the United States wrap up the second round of high-stakes trade negotiations in Washington, both sides have reached consensus on 80% of the proposed conditions, but key issues, including a steep 35% US tariff on Bangladeshi exports and a contentious 40% local value addition requirement, remain unresolved.
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Some garment orders from Bangladesh for Walmart are currently on hold amid escalating US tariff threats, according to factory owners and supplier correspondence seen by Reuters.
