The Union Budget has made several announcements to stimulate investment, access to finance and markets, and encourage cost-effectiveness and innovation in important industries to increase domestic production. The industries that stand to gain the most from the policy measures are the transportation industry, automobiles and auto parts, textiles, and fertilizers. However, industries like pharmaceutical, healthcare,…
The domestic textile sector in India is anticipated to increase by 6–8% this fiscal year after rebounding by 9–10% in the previous fiscal year, according to CRISIL Ratings research. The development in the home market and strong demand from the US, the main export destination, will fuel the boom, it stated, despite some persistent logistical…
Based on the long-term positive outlook for the Indian economy and a strong focus on emerging areas like technical textiles, home furnishings, specialized fabrics, and fashion apparels, the market for Indian textile and apparel manufacturers may reach the $ 350 billion mark by 2030, according to a report. According to a survey by FICCI-Wazir Advisors,…
Due to falling costs for food, gasoline, and manufactured goods, the wholesale price-based inflation rate in May decreased by (-) 3.48 percent, reaching a three-year low. The inflation rate based on the wholesale pricing index (WPI) has been negative for two months in a row. The value for April was (-) 0.92 percent. The WPI…
According to government estimates, major electronics manufacturers, including those that produce mobile phones, have received more than half of the $2,875 crore in disbursements made so far under the government’s Production Linked Incentive (PLI) scheme for 14 industries. Much of the remaining market was dominated by pharmaceuticals and food items. There are 1.97 lakh crores…
Exports of textiles and apparel decreased by 8.5% in the first half of FY23 compared to the same period last year, significantly behind the 17.8% increase in merchandise exports as a whole. In H1FY23, textile and clothing exports totaled $18.3 billion, down from $20 billion in H1FY22, according to the most recent data from the…
