Afcons Infrastructure share price rises 6% on a large order win from Reliance
Ujjval Jauhari
Published 9 Jun 2025, 09:33 AM IST Stock Market Today: Afcons Infrastructure's large order win from Reliance.
Stock Market Today: Afcons Infrastructure share price rises 6% during the intraday trades on a large order win from Reliance. The Letter of Award (LoA) from Reliance Industries Limited is worth ₹ 700 crore
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Time of India
an hour ago
- Time of India
Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
HighlightsFashion retailer Shein, in partnership with Reliance Retail, aims to expand its Indian supplier base from 150 to 1,000 within a year, with plans to start overseas sales of India-made Shein-branded clothing within six to twelve months. Shein's return to India follows a ban in 2020 due to government actions against China-linked companies, and now operates under a licensing agreement with Reliance Industries, offering locally produced apparel through the platform. The partnership between Shein and Reliance Retail is part of a broader trend among global fashion companies seeking to diversify sourcing outside of China amid ongoing trade tensions, with Reliance planning to invest in new suppliers and enhance manufacturing capabilities in India. Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start overseas sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered e-commerce firm has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said it licensed its brand for use in India. Reliance did not respond to queries. Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which were previously imported duty free. The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour. It returned in February under a licensing deal with the Reliance Industries unit which launched selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China. Reliance, controlled by Asia's richest person, Mukesh Ambani , has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns. The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said. Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said. The scale of supplier expansion and export time frame is reported here for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market," Shein said in a statement. In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally". ON-DEMAND MANUFACTURING Shein is a fast-fashion behemoth earning annual revenue of over $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the Sino-U.S. trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth, showed data from market intelligence firm Sensor Tower. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on its U.S. site. In the women's dresses category, its cheapest item is priced 349 Indian rupees ($4) versus $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer. The firm also runs e-commerce site Ajio and its retail network competes with Amazon and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said.
Time of India
3 hours ago
- Time of India
Instamart partners with Bharat Organics to bring certified organic staples to Indian homes
Swiggy's Instamart on Monday announced that it has joined hands with Bharat Organics , a farmer-led cooperative brand, to launch a range of certified organic staples across major Indian cities. The partnership, forged through a memorandum of understanding (MoU) with the National Cooperative Organic Limited (NCOL), will make 21 organic food products available to consumers via Instamart's digital platform. Shares of Swiggy Ltd were trading at Rs 364.35, down Rs 10.10 (2.70 per cent ) as of 1:22 pm IST. The alliance is aimed at connecting India's traditional organic farming cooperatives to the country's growing base of health-conscious, digital-first consumers. Products such as pulses, spices, cereals, sweeteners, teas, and organic oils will now be accessible on Instamart in metros and Tier-1 cities at prices significantly below market rates. 'This initiative also aligns with the Government of India's broader vision under White Revolution 2.0, which emphasizes strengthening the agri-cooperative ecosystem through sustainable practices, market access, and digital enablement. By connecting traditional farmer cooperatives to tech-enabled platforms like Instamart, the partnership underscores the role of cooperatives in shaping a healthier, more resilient India,' it said in a statement. 'This partnership with Bharat Organics helps us take a significant step toward promoting healthier living by making a wide range of organic product options easily available to the customers of Instamart,' said Amitesh Jha, CEO, Instamart. 'It also aligns with our broader goal of supporting the growth of local communities through technology. In addition to this, this collaboration is beneficial for India's organic farmers, by enabling greater market access.' Consumers will be able to choose from staples including tur dal, masoor dal, rajma, kabuli chana, basmati rice, atta, jaggery powder, whole and ground spices, honey, ghee, and herbal teas. Every pack comes with a QR code linking to real-time lab test reports verifying pesticide-free status, certified against over 245 residues, marking a new level of transparency in India's grocery segment. Prices have been deliberately kept competitive to encourage adoption. For example, organic tur dal will retail at Rs 240/kg, notably lower than the market average of Rs 290–Rs 300/kg. Shri Ashish Kumar Bhutani, Secretary, Ministry of Cooperation, welcomed the initiative. 'With Bharat Organics, we're offering a range of clean, lab-tested organic staples that are not only accessible to consumers but also ensure fair returns for farming communities. The launch on Swiggy Instamart is a meaningful step forward, bridging our agricultural roots with today's digital consumer landscape.' Shri Vipul Mittal, Managing Director, NCOL, added, 'Swiggy Instamart's reach, reliability, and consumer trust make it an ideal platform to bring Bharat Organics into the homes of a new generation of mindful buyers. Through Swiggy's platform, we're not only delivering food but also building trust, transparency, and empowerment into the grocery-buying experience.' Bharat Organics follows a farmer-first profit-sharing model, with nearly 50 per cent of profits going directly to member farmers. The brand already has a strong offline presence across Delhi-NCR, with distribution through 10,000+ retail outlets including 300+ Safal stores via its partnership with Mother Dairy, it informed. The Instamart collaboration marks its first major foray into digital grocery retail .
Mint
4 hours ago
- Mint
Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
MUMBAI/LONDON (Reuters) -Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start international sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered Shein has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said its partnership with Reliance was limited to the licensing of its brand to Reliance Retail for Indian domestic consumption only. Reliance did not respond to queries. Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which could previously be imported duty free. The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour. It returned in February under a licensing deal with the Reliance Industries unit which launched selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China. Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns. The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said. Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said. The scale of supplier expansion and export time frame is being reported for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market alone," Shein said in a statement. In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally". Shein is a fast-fashion behemoth earning annual revenue of more than $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the U.S.-China trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth since its launch, data from market intelligence firm Sensor Tower showed. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on Shein's U.S. site. In the women's dresses category, its cheapest item was priced at 349 Indian rupees ($4) compared to $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer. The firm also runs e-commerce site Ajio and its retail network competes with Amazon and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said. (Reporting by Dhwani Pandya in Mumbai and Helen Reid in London; Editing by Aditya Kalra, Christopher Cushing and Kate Mayberry)
