Amazon has filed another petition in the Supreme Court to set aside a September order by the National Company Law Tribunal (NCLT) that had allowed Future Retail (FRL) to convene meetings of its shareholders and creditors seeking approval of its year-long proposal to sell its assets to Reliance Retail.

Amazon has accused the NCLT's September 28 order of violating its order passed on September 09 by the apex court that had directed statutory bodies such as the NCLT, Competition Commission of India (CCI) and Securities and Exchange Board of India (Sebi) to put on hold all proceedings regarding the Rs 25,000 crore proposed deal between Future Group and Reliance Retail.

Amazon is seeking a stay on the NCLT order as well asking the apex court to restrain the proposed meetings of shareholders and creditors of FRL scheduled to be held on November 10-11, 2021 for which the Indian retailer had issued notices on October 11, 2021.

TOP 5:

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18th October 2021, Mumbai:

India-China trade may touch the $100-bn mark this year the way things are panning out. But quite surprising The US is about to pip China as India's largest trading partner.

A low down on India-China trade is," Given the volume which has hit $90.37 billion in the first three calendar quarters it is set to cross $100 billion this year —with a slated hike of 49.3 percent year-on-year (YoY)—notwithstanding there is an ongoing border standoff.

Noteworthy is the slice & dice of business volume is," China's total imports and exports ballooned by 22.7 percent year on year (YOY) to 28.33 trillion yuan (about $4.38 trillion) in the first nine months of the calendar year of 2021, official data showed.

Make no mistakes, "The figure is well above 23.4 percent even from the pre-epidemic level in 2019, according to China’s General Administration of Customs.

This is the important message when the Indian premier has already given a clarion call for ATMA NIRBHAR BHARAT and a semblance is the host of initiatives are already been taken and in the offing to give a leg up to the manufacturing sector in India.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22nd October 2021, Mumbai:

The Confederation of All India Traders (CAIT), a trade organisation, has written to Prime Minister Narendra Modi, requesting his action in the country's e-commerce transgressions.

CAIT has also requested a meeting with the Prime Minister to address the country's e-commerce and retail trade industries.

“It appears that the rules of the country have succumbed to these companies, which is the root cause for their arbitrariness in e-commerce business without any fear of law or the rules, and it is a pity that there is no mechanism to rein them in,”

CAIT national president BC Bhartia and secretary-general Praveen Khandelwal wrote in a letter to the PM.

"On the complaints filed by the traders, the Competition Commission of India (CCI) has initiated only ceremonial proceedings," the letter continued, "and the slow pace at which the investigation is proceeding, the traders of the country are not satisfied with it, and there is absolutely no hope of any fruitful result."

CAIT has accused various sectors and government organisations of unfairly shielding the interests of foreign-owned enterprises, promising to expose them as quickly as possible.

Foreign-owned enterprises, according to the organisation, are breaking foreign direct investment restrictions and harming Indian businesses.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Sangam India Limited (SIL), a prominent textile business, reported record sales of Rs. 635 crore in the second quarter of FY22, up 104% year on year. The promoters and Madhuri Madhusudan Kela have contributed Rs. 103 crore to the firm. As of September 2021, the company's total sales were Rs. 1,045 crore, with overseas markets accounting for 37% of revenue.

In Q2 FY22, earnings before interest, taxes, debt depreciation, and amortisation (EBITDA) were Rs. 76.2 crore, up more than 208 percent year over year from 24.7 crores, and better than the previous quarter of Rs. 51.1 crore.

SIL is a leading manufacturer of PV coloured yarn and seamless clothing. The business has also authorised a brownfield development plan of Rs. 137.25 crore in the cotton yarn market, as well as successfully closing a 102 crore term loan with lenders. The project's commercial operation date (COD) will be April 1, 2022.

Sangam India Ltd., founded in 1984, has developed four state-of-the-art manufacturing facilities in Rajasthan's Bhilwara and Chittorgarh.

Annually, the firm manufactures 35 million metres of PV fabric and 48 million metres of denim fabric.

This level of output is achievable thanks to a well-organized manufacturing infrastructure with over 2,80,000 spindles and 4,000 rotors. Its seamless garment production plant, for example, includes 52 seamless knitting machines with a capacity of 5.4 million pieces per year.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18th October 2021, Mumbai:

IIT Delhi which only is home to the textile sector has taken a defining step by converting its state-of-the-art SMITA (Smart Materials and Innovative Textile Applications) Research Lab to a Centre of Excellence (CoE) in Smart Textiles to give shape to this monumental initiative.

Here it is pertinent to give a backdrop to The SMITA Research Lab CoE in Smart Textiles which has been come into being to fundamentally work in the area of Smart and Functional Textiles using the resource of 'Emerging materials and process technologies, to logically serve the interest of country’s pivoted textile industry. The pivot point here is that this CoE would be:

(a) This is all about the development of highly functional and high-performance textile materials.

(b) This is likely to give a leg-up to so to say to wearable textiles. Besides, it envisages developing multi applications to the functional textiles as a use case.

Textiles have traditionally been a big employer that contributes critically to our economy through both precious forex earner and catering to burgeoning domestic consumption and exports. Noteworthy is that it is in alignment to recently launched National Technical Textile Mission (NTTM) and is sure to lead to the development of Technical Textiles in the country which is really vital to this sector's prospects.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Footwear retailer Metro Brands plans to raise fresh capital of up to Rs 250 crore for opening 219 new stores under Metro, Mochi, Walkway, and Crocs brands.

The company follows a three-year plan to identify cities to set up new stores and cities to expand its presence, says Farah Malik Bhanji, Managing Director. Based on this plan, a detailed yearly plan is prepared.

The promoters and promoter group hold an 84.02 percent stake in the company. This includes a 30.2 percent stake held by the Aziza Malik Family Trust and 29.76 percent held by the Rafique Malik Family Trust. Investor RakeshJhunjhunwala holds little more than a 14 percent stake.

Besides raising fresh capital, the company will also have an offer for sale. As a part of this sale, the Aziza Malik Family Trust will sell up to 3,737,000 shares; Rafique Malik Family Trust 3,660,000; Farah Malik Bhanji 2,899,000, Alisha Rafique Malik 2,899,000; ZarahRafique Malik 2,899,000, Zia Malik Lalji 2,899,000; Sabina Malik Hadi 2,899,000; RakeshHridaynarayanPathak up to 8,100 shares.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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19th October 2021, Mumbai:

Unified mobile advertising platform MAAS has released a report titled ‘The Dawn of the New-Age Shopper in the New Normal’ that studies the key factors that accelerated e-commerce adoption in India and Southeast Asia in the recent past.

Released in collaboration with US-based mobile app store marketing Intelligence Company, Sensor Tower, the report highlights how COVID-19 has shaped shopping behavior in India.

As per this report, daily active user (DAU) growth in top shopping apps In India accelerated in the past three quarters, after Club Factory’s removal from app stores dampened growth in mid-2020. The top 10 apps averaged more than 7 million DAUs apiece in Q2 2021, up 18 percent year-on-year.

Installation of shopping apps in India showed strong y-o-y growth in July and August 2020 and remained above 2019 levels into 2021. Shopping app installs surged again in July 2021, surpassing 80 million that month, up more than 15 million month-on-month. Meesho alone contributed more than 12 million downloads, up 3.7 million month-on-month.

Day 1 and day 7 retention for the top shopping apps in India reached their highest average since 2020 in Q2 2021. Longer-term retention for the top shopping apps in India peaked in Q3 2020. While retention decreased in the following quarters, it still showed positive growth year-on-year.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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14th October 2021, Mumbai:

Sustainable strategic reforms and the steady vaccination drive, opening up of the economy have helped the country on the road to rapid recovery mitigating catastrophic pandemic waves battering alludes, Finance Minister Nirmala Sitharaman.

Vax access for all keys to globally synchronized recovery coneys Hon'ble Finance Minister of India to G20 peers.

The industry experts & chambers are in complete agreement on this that consumer sentiment currently is at its most robust since the onset of the Covid-19 black swan event.

A return to normalcy in the economy has fuelled sustained and solid demand growth in most of the sectors away from consumer durables where still it bounces back, for once sharp rebound in manufacturing puts us in goldilocks situation, on the back of near normalcy there is a buoyancy been witnessed in services activity and on the back of macroeconomic factors only suggest that the economy is seeing uptick tailwind, the September review said.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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21st October 2021, Mumbai:

Better Cotton licenced farmers' cotton output produced considerably reduced emissions, according to research done by Anthesis Group and commissioned by Better Cotton in 2021.

Better Cotton output has 19% lower emissions intensity per tonne lint than production from China, India, Pakistan, Tajikistan, and Turkey, according to the research. It offered the first-ever measurement of Better Cotton and similar production's worldwide greenhouse gas emissions.

Better Cotton is the world's largest cotton sustainability programme. Anthesis analysed over 200,000 farm evaluations over three seasons (2015-16 to 2017-18) and used the Cool Farm Tool as the GHG emissions computation engine, according to Better Cotton.

Better Cotton offered primary data on input use and kinds, farm sizes, productivity, and approximate geographic locations, with some information supplemented by desk research where main data was unavailable.

The research had two goals: first, to see whether Better Cotton farmers generated fewer emissions while growing cotton than non-Better Cotton farmers, and second, to see if Better Cotton farmers produced lower emissions while growing cotton than non-Better Cotton farmers.

Second, measure emissions for producers responsible for 80% of worldwide Better Cotton output and use this as a baseline for setting global emissions reduction targets for 2030.

The study also discovered that production generated 2.98 million tonnes of lint with average yearly GHG emissions of 8.74 million tonnes carbon dioxide equivalents, corresponding to 2.93 tonnes carbon dioxide equivalents per tonne lint produced.

Fertiliser production was found to be the biggest source of emissions, accounting for 47% of total emissions from Better Cotton production. Irrigation and fertiliser use was also discovered to be important contributors to emissions.

Better Cotton will set a GHG emissions reduction target for 2030, guided by climate science and the clothing and textile sector's collective ambition, including the UNFCCC Fashion Charter, of which Better Cotton is a member.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18th October 2021, Mumbai:

To enhance its effectiveness and connect its aims with other recently established programmes, such as the production-linked incentive (PLI) scheme and mega parks, the government is proposing a substantial redesign of its flagship incentive scheme for capital investments in the textile and garment sector.

According to Financial Express, a prominent business newspaper, the government has chosen to overhaul the Amended Technology Upgradation Fund Scheme (ATUFS) rather than just renewing it with the same structure.

According to the article, the new system under development would prioritise prompt subsidy disbursement for major projects and better incentivize areas with strong employment potential.

The new programme is expected to complement the PLI and giant textile park schemes by assisting the fragmented textile and garment sector in gaining scale and increasing exports.

It would also make it easier to update current looms to higher-tech models, assure processing quality, and limit fabric imports by garment manufacturers.

ATUFS is one of the most important programmes for the Indian textile sector, which is expected to develop in the near future. Stakeholder consultation on lowering compliance burden in ATUFS was held a few months ago, in keeping with the government's aim to make doing business easier.

The sector has also asked for a five-year continuation of the plan beyond March 31, 2022. In line with the newly established Rs. 10,683-crore PLI plan for these categories, the emphasis on technical fabrics and MMF products might be increased.

While subsidies of up to Rs. 5 crores are now processed in a short period of time (usually a week), anything over this amount for large-ticket projects takes significantly longer.

This procedure is likely to be accelerated. The government put aside an outlay of Rs. 17,822 crore (Rs. 12,671 crore for settling pending claims under the program's prior incarnations and Rs. 5,151 crores for executing the ATUFS) when it announced the scheme in January 2016. By FY22, the programme is expected to attract Rs 95,000 crore in new investments in the textile and apparel sector, resulting in the creation of 3.5 million new employment.

However, it could only incentivize projects worth Rs. 46,861 crore till FY21, with a subsidy payout of Rs. 3,378 crore.

The existing plan (ATUFS) provides a 15% subsidy on capital investments for garments and technical textiles companies, up to a maximum of Rs. 30 crores per investor.

The remaining categories, such as weaving, processing, jute, silk, and handlooms, would get 10% of the total, up to a maximum of Rs. 20 crore.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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14th October 2021, Mumbai:

The International Trade Secretary confirms the beginning of a dialogue on a new export and investment collaborative partnership between the UK and Italy with an eye to promote trade between the two countries.

New international trade minister Anne-Marie Trevelyan made the joint declaration alongside Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio in Sorrento while traveling to Italy for the G20.

Win-win formula

“Promoting our two-way relationship with Italy is indeed a win-win, which will give a fillip to export opportunities and opens up investment opportunities for our businesses,” said Trevelyan. It is pertinent to mention here that The UK and Italy are already working shoulder-to-shulder to deliver a successful COP26 Summit.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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