Thehas welcomed the decisions of the Union Cabinet, chaired by Prime Minister Narendra Modi, which will providefarmers, street vendors and agricultural sector. Since they are the backbone of the Indian economy, support to them will result in growth of the overall economy.Pic: ShutterstockMSMEs, which have 29 per cent share in the country's GDP and 48 per cent share in the country's exports and provide employment to millions of people, will receive maximum benefits from the change in theu

More than 75 per cent of Chinese consumers reduced or postponed purchases on apparel and footwear and their total spending decreased by 45 per cent in the first quarter of 2020, according to a latest survey by New York-based global management consulting firm Oliver Wyman, which found there was little retaliatory spending in April and May. The largest apparel market is expected to see a 15 per cent contraction in 2020, equivalent to about $60 billion in market value.On the bright side, the survey

Creative entrepreneurs and risk-takers who start limited companies in the UK need more support from the government, because that is what fuels the industry and makes it one of the best in the world, according to Mustafa Fuat, the founder of Gosha London. Gosha London is a high-end womenswear manufacturer producing samples and garments for luxury brands.Pic: ShutterstockAs a director of a limited company, Fuat falls into what UKFT is referring to as ‘The Forgotten Middle’ and feels left behind wh

Donde Search, AI visual discovery technology leader, has introduced Trends in its visual search navigation solution. The tool will assist the customers in their buying decisions with more relevant and up to date search.Image Courtesy: ocbj.media.clients.ellingtoncms.comThe tool is trained with billions of search data performed on the Donde platform combined with algorithm data that is constantly analysed from the web. The solution helps retailer increase the sales conversions and average order v

, India-based pure-play fashion and lifestyle company, posted 8 per cent revenue growth to ₹8,743 crore in fiscal year 2020 ended on March 31, 2020, compared to the revenue of ₹8,118 crore in previous fiscal. However, revenue if the fourth quarter (Q4) were slightly down to ₹1,817 crore (Q4 FY19: ₹1,915 crore).Revenue for the Madura segment in Q4 FY20 fell 7 per cent to ₹1,229 crore (₹1,320 crore). Sales of lifestyle brands were down 5 per cent during the quarter to ₹1,072 crore (₹1,132 crore).R

The global trade ofhave shown a tremendous fall in the year 2019. The total trade reported a decrease of 13.39 per cent which was $238.91 million in 2017 to $206.92 million in 2019, according to data from TexPro. The total trade of cotton sewing thread has declined 18.21 per cent in 2019 compared to the trade previous year.The trade is further anticipated to drop to $ 170.07 million in 2022 with a rate of 18.21 per cent from 2019, according to.The global export of cotton sewing thread was $119.4

The north Indian state of Uttarakhand would now spin out the high-quality Australian sheep wool in the hills and cater to the country's textile industry. A test report of the sheep wool quality, compiledby the state animal husbandry department, corroborated that the wool's quality is similar to what the famed Merino sheep gives in Australia.Pic: Shutterstock"We had imported the Australian merino sheep last year and the purebred yielded the same quality, and this month the quantity o

has redeployed its newly acquired manufacturing capacities ofin Silvassa, Gujarat for exclusively manufacturing. The facility is currently producing more than 100,000 PPEs per day. It has provided fresh employment to nearly 10,000 people for assembling the PPE suits.A PPE suit consists of six items: coveralls, gloves, shoe covers, mask-three ply or N 95 (with or without respirator), head gear and face shield. The facility at Silvassa is manufacturing PPE coverall suits which are single piece zip

Thehas once again urged the government to impose anti-dumping duty (ADD) on cheap Indian yarn to save the domestic industry. Because of the pandemic, hundreds of mills in India are sitting on unsold yarn, which they are diverting to Bangladesh at cheap prices and many local garment makers are lapping them up, it alleged.For instance, local millers are selling the widely-consumed 30-carded yarn at $2.80 to $2.90 a kilogram, whereas the same yarn can be procured at $2.60 to $2.70 per kg from India

India today revised further the definition of micro, small and medium enterprises (MSME). A business is now ‘micro’ if it has investments up to ₹1 crore and a turnover of less than ₹5 crore, and is ‘small’ if its investment limit is ₹10 crore with a turnover of less than ₹50 crore. Those with investments up to ₹20 crore with a turnover of less than ₹250 crore are ‘medium’.Pic: ShutterstockA special meeting of the Cabinet Committee on Economic Affairs (CCEA) convened today under the chairmanship