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Handicraft Exports witnessed 13.15 % growth in 2016-17

The Union Textiles Minister Smriti Zubin Irani has urged the exporting fraternity to take care of the welfare of artisans who are the backbone of the sector.  After inaugurating IHGF - Delhi Fair Autumn 2017, the Minister appreciated the role of Export Promotion Council for Handicrafts (EPCH) in promoting exports of handicrafts.  She noted that handicraft exports have witnessed a year-on-year growth of in 2016-17 and has touched Rs. 24,392…
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Apparel and Textile News

Review Of FDI In Multi-Brand Not Under Consideration

“There is no proposal under consideration of the government to review the FDI policy on multi-brand retail,” union commerce and industry minister Nirmala Sitharaman said in a written reply to the Lok Sabha. The current foreign direct investment policy permits overseas players to hold 51 per cent stake in an Indian retail company. So far, only one foreign player, Tesco, has received approval for opening stores under the multi-brand retail…
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Apparel and Textile News

More Stores in UP and Uttarakhand by Walmart

The global retail giant, Walmart plans to open some 25 stores in Uttar Pradesh and Uttarakhand in addition to its existing 20 stores across the country. The US retailer also plans to open 10 stores each in Maharashtra, Andhra Pradesh and Telangana. It is looking at two more stores in Lucknow, in addition to Ghaziabad, Noida, Kanpur, Allahabad, Haridwar, Dehradun and Haldwani. Each store provides direct and indirect employment to…
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Apparel and Textile News

Chumbak Applies Single Brand License to Manage Outlets

Apparel producer and retailer of accessories, ‘Chumbak’ has applied to the government for single brand licence to operate a combination of its own stores and e-commerce website. A person familiar with the development said the Bengaluru-based company has filed its single brand application with the Department of Industrial Policy and Promotion (DIPP) late last month. Chumbak, which is funded by Matrix Partners and SeedFund, becomes the latest among the foreign-funded…
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Apparel and Textile News

MSMEs Faces Tough Competition from Cheap Chinese Products

Indian Micro, Small and Medium Enterprises (MSMEs) are facing tough competition from cheap Chinese products and it is evident from the high growth of India’s imports from China. As per information compiled from the data provided by Director General of Commercial Intelligence & Statistics, Imports in respect of 11 major product groups, largely manufactured by MSMEs in India, have grown from China at a higher rate than their respective imports…
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Apparel and Textile News

India ranks 2nd on Global Retail Development Index

India is the second most promising market for global retailers who are looking to expand their business, after China, says a recent report. The country's huge market potential, fast growth and improved ease of doing business moved it to the second position. The world's fastest growing major economy India presents a retail market of one trillion dollars. Retail demand is increasingly driven by urbanisation, an expanding middle class and more…
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