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these banks cut mclr and emi interest rate after rbi 50 bps repo rate cut
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With this new venture, India is being positioned as a manufacturing alternativeâ€'potentially turning the country into a key node in global fast fashion supply chains. For Reliance, the Shein partnership is one among several in fashion retail. The conglomerate already runs Ajio and has deals with international brands including Brooks Brothers and Marks & Spencer. It competes aggressively with Amazon, Flipkart and value retailers like Tata's Zudio Shein and Reliance Retail are working on an ambitious plan to transform India into a global manufacturing base for fast fashion, reported news agency Reuters. The aim is to make Shein-branded clothes in India not just for local sales but also for international markets, starting with the US and UK, within the next 6 to 12 months, added the report, citing two people familiar with the discussions. 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Union Minister of Commerce and Industry, Piyush Goyal, had hinted at this pivot in Parliament late last year, saying the Shein-Reliance deal was designed to 'create a network of Indian suppliers of Shein-branded clothes for sale domestically and globally.' Shein, which generated over $30 billion in annual revenue through aggressive pricing and marketing, currently works with more than 7,000 suppliers in China. With this new venture, India is being positioned as a manufacturing alternativeâ€'potentially turning the country into a key node in global fast fashion supply chains. For Reliance, the Shein partnership is one among several in fashion retail. The conglomerate already runs Ajio and has deals with international brands including Brooks Brothers and Marks & Spencer. It competes aggressively with Amazon, Flipkart and value retailers like Tata's Zudio Join our WhatsApp Channel
