Egypt's RMG exports rise 24% YoY in Q1 2025 to $812 mn
The council reported a particularly strong performance in February, with exports jumping by 35 per cent YoY to $276 million. January also saw steady growth, with exports rising by 11 per cent YoY to $274 million, up from $246 million in the previous year.
The United States remained the top destination for Egyptian garments in Q1 2025, with exports to the country rising by 12 per cent YoY to $299 million. Europe followed, seeing exports worth $206 million—up by 43 per cent YoY.
Egypt's RMG exports rose by 24 per cent YoY in Q1 2025 to $812 million, the Apparel Export Council of Egypt said. The US was the top destination for Egyptian garments in Q1, with exports to there rising by 12 per cent YoY to $299 million. Europe followed, with exports worth $206 millionâ€'up by 43 per cent YoY. Exports to Arab countries surged by 49 per cent YoY to reach $148 million in the quarter.
Exports to Arab countries surged by 49 per cent YoY to reach $148 million in the quarter, while exports to non-Arab African countries posted the highest growth rate of 121 per cent YoY.
Exports to other global markets also rose by 49 per cent YoY in the quarter, domestic media outlets reported.
Fibre2Fashion News Desk (DS)
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Hindustan Times
14 minutes ago
- Hindustan Times
Online Gaming Bill can damage India's digital economy: K'taka IT minister
The Union government's decision to impose a blanket ban on real money gaming (RMG), with the passage of the Promotion and Regulation of Online Gaming Bill in the parliament, has drawn sharp criticism from Karnataka IT minister Priyank Kharge, who called it a 'knee-jerk reaction' that could damage India's digital economy. Online Gaming Bill can damage India's digital economy: K'taka IT minister The online gaming sector has grown rapidly in recent years, generating close to ₹20,000 crore annually through GST and income tax. Over 2,000 gaming startups operate in the country, many of them providing coding, design, and backend services for global platforms. Industry estimates suggest that more than two lakh jobs in IT, AI design, and the creative economy are linked to this ecosystem. The sector has also attracted around ₹23,000 crore in foreign direct investment (FDI) over the past five years, said Kharge. Kharge warned that the ban threatens this entire ecosystem. 'Thousands of people will be unemployed, the gaming talent pool will shrink, and allied sectors like data centres, advertising, and cybersecurity will be hit. If the government is talking about building a $10 trillion digital economy, how does shutting down this vertical send the right signal to global investors?' he said. A senior government official had told HT that the Centre weighed the revenue from online money games against their social costs and concluded that the latter outweighed the financial gains. The official added that 45 crore players have lost ₹20,000 crore to online money games. The government is also of the view that these money games not only create a financial burden but also contribute to behavioural changes like addiction and related suicides among youth. Beyond jobs and revenue, Kharge argued that prohibition will push users to unregulated offshore platforms. Industry observers have also raised similar concerns, pointing out that platforms based in China and Eastern Europe often operate without mechanisms like KYC or tax compliance, raising risks of money laundering, data theft, and even terror financing. The minister said the industry itself has been demanding regulation, not prohibition. 'Addiction won't end by banning platforms. Instead, users will flock to offshore servers where no safeguards exist. If they lose money there, who will they complain to?' he asked. Estimates suggest that India could lose nearly ₹8 lakh crore annually to unregulated foreign operators if players migrate en masse. Government officials have acknowledged that the ban will affect the industry but maintain that companies can reorient themselves towards recreational and casual games that do not involve monetary stakes. Kharge, however, drew a comparison with India's earlier attempt to block pornography websites, saying such bans only drove users to VPNs and unregulated domains. He also criticised the timing of the Online Gaming Bill, describing it, along with other recent pieces of legislation like the the Constitution Amendment Bill, 2025, the Government of Union Territories (Amendment) Bill, 2025, and the Jammu and Kashmir Reorganisation (Amendment) Bill, 2025, as a 'diversion' from the Election Commission's ongoing scrutiny of electoral rolls. 'It is common sense that illegal markets will threaten national security. How many URLs can you block? They will just reappear under different domains. And if servers move abroad, they go beyond India's ambit,' Kharge said. HT reached out to IT ministry officials for a comment but did not immediately receive a response.
Time of India
4 hours ago
- Time of India
MCM to hire 376 sanitation workers for road sweeping
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Business Standard
6 hours ago
- Business Standard
RMG platforms suspend paid contests to comply with new gaming law
Real money gaming apps like Dream11, Zupee, and Probo suspend paid contests following the passing of the Promotion and Regulation of Online Gaming Bill, 2025, which introduces severe penalties. Mumbai Real money gaming (RMG) platforms such as Dream11, Zupee, and Probo suspended paid contests on their respective platforms following the passing of the Promotion and Regulation of Online Gaming Bill, 2025, by the Rajya Sabha. The Bill, which proposes jail terms of up to three years and fines of up to Rs 1 crore for anyone offering RMG services in India, also prohibits banks from working with companies providing such services. Cleared by the Union Cabinet on Tuesday, the Bill was introduced in the Lok Sabha earlier the same day. While the Dream11 app remained operational, its parent company, Dream Sports, on Thursday paused all 'Pay to Play' contests on Dream Picks, a fantasy sports app, and Dream Play, a casual RMG service. Dream11 did not comment on Business Standard's query regarding the suspension. Probo, an opinion trading platform, announced that it had discontinued all RMG operations with immediate effect. 'As unfortunate as it is, we respect the Government of India's latest Online Gaming Bill. In light of this development, Probo has decided to discontinue its real-money gaming (RMG) operations with immediate effect until further notice. We remain steadfast in our vision to innovate and build information markets from India, for the world,' the company said in a statement. Another RMG player, Zupee, confirmed that it had discontinued paid games but would continue supporting free-to-play games on its platform. 'Zupee remains fully operational, and our players can continue to enjoy their favourite games. In line with the new Online Gaming Bill 2025, we are discontinuing paid games, but our hugely popular free titles like Ludo Supreme, Ludo Turbo, Snakes & Ladders, and Trump Card Mania will continue to be available for all users for free,' a company spokesperson said.
