Economy

India Logs 101 Milestones, Accelerates Growth Momentum

Textile Insights March 18, 2026

The Bharat Progress Report 2025–26, released by the NXT Foundation, highlights India’s accelerated economic and technological advancement, marked by 101 major milestones across sectors including digital infrastructure, transport, space and renewable energy. The report notes that India emerged

Economy

Giriraj Singh: India Targets $350 Billion Textile Economy By 2030–31

Textile Insights March 16, 2026

Giriraj Singh, Union Minister of Textiles, has urged the Indian textile industry to scale up production and move towards higher-value manufacturing in order to strengthen the country’s position in global markets. Speaking at an industry interaction organised by the Confederation of Indian Industry in New Delhi, the minister said India aims to expand its textile […]

Economy

Reliance-Backed US$ 300 Billion Oil Refinery Planned In Texas

Textile Insights March 16, 2026

Reliance Industries, led by Mukesh Ambani, is backing a proposed US$ 300 billion oil refinery project in the United States that would mark the country’s first new refinery development in nearly 50 years. The facility is planned at the Port of Brownsville in Texas. The announcement was made by Donald Trump, who described the project […]

Economy

Iran Tensions Stir Oil, Currency And Trade Concerns For India

Textile Insights March 10, 2026

Rising geopolitical tensions involving Iran, Israel and the United States are beginning to ripple through global energy and financial markets, creating potential economic challenges for India. Although India is not directly involved in the conflict, its heavy dependence on imported energy, extensive trade links with the Gulf region, and integration with global capital

Economy

West Asia Conflicts Raise Trade And Energy Concerns For India

Textile Insights March 4, 2026

Escalating conflicts in West Asia are beginning to cast a shadow over global trade flows and energy markets, prompting concerns among investors and businesses about the potential spillover effects on the Indian economy. A recent report by JM Financial Institutional Securities indicates that prolonged disruption in the region could have a negative impact across shipping,

Economy

Trump Unveils 15% Global Tariffs After Supreme Court Blow

Textile Insights February 23, 2026

US President Donald Trump has announced plans to impose a 15% global tariff on imports, escalating trade tensions after the US Supreme Court struck down his earlier tariff policy. The court, in a 6–3 ruling, found that Trump had overstepped his authority by using the 1977 International Emergency Economic Powers Act (IEEPA) to introduce sweeping […]

Economy

Kenya, Egypt Move To Fast-Track Strategic Economic Partnership

Textile Insights February 23, 2026

Kenya and Egypt have begun implementing a strategic partnership to deepen trade, energy and political cooperation, following talks between Prime Cabinet Secretary Musalia Mudavadi and Egyptian Foreign Minister Badr Abdelatty. The move builds on earlier agreements between President William Ruto and Abdel Fattah el-Sisi. Bilateral trade stood at US$ 567 million in 2024, a

Economy

Gujarat Raises Textile Sector Outlay To Rs 2755 Crore In FY27 Budget

Textile Insights February 23, 2026

Gujarat has significantly enhanced its financial commitment to the textile sector, raising the allocation under the Development of Textile Industry scheme to Rs 2755 crore (approximately US$ 302.71 million) in the 2026–27 state budget. The move reinforces the state’s strategy to strengthen its leadership in textile manufacturing while boosting exports and MSME

Economy

Zero-Tariff US Deal May Reshape India–Bangladesh Garment Rivalry

Textile Insights February 19, 2026

Union Commerce Minister Piyush Goyal’s indication that India could secure zero-duty access to the US market for garments made from American cotton has triggered concern within Bangladesh’s apparel industry. Under the proposed India–US trade arrangement, Indian textile and garment exporters may receive tariff-free entry into the United States for products manufactured using

Economy

Budget 2026-27 Lays Emphasis On Strengthening India’s Textile Ecosystem

Textile Insights February 10, 2026

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 on February 1, 2026 in the parliament. The budget aims to provide boost to the Indian textile industry through various schemes and initiatives and has been hailed by the textile industry at large. The Confederation of Indian Textile Industry (CITI) has welcomed the Union Budget […]