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Fashion Network
08-05-2025
- Business
- Fashion Network
Raymond Group's Gautam Hari Singhania calls for Khadi promotion, optimistic about Indian textile industry growth
Raymond Group's chairman and managing director Gautam Hari Singhania highlighted the importance of promoting khadi and harnessing India's textile legacy to drive future growth at the recent India @2047 Summit hosted by ABP Network. Speaking on the theme 'The Fabric of India: Strength and Sustainability,' Singhania reflected on the country's historical role in global textile trade. 'Khadi needs more push," said Singhania, the business reported in a press release. "There is so much talent in that space. I admire what they are doing... I also think the mindset around ethnic wear is changing, we are finally starting to wear our own with pride.' Singhania also emphasised the present opportunity for India in global textile trade. 'This is the most opportune time for the Indian textile industry," said the executive. "We just need to stay one step ahead." Singhania cited global shifts and increasing sourcing challenges faced by countries like China as further opportunities for growth. Marking Raymond's centenary, Singhania shared, 'Raymond completes 100 years this year. Our fabrics travel to 55 countries today, representing the modern era of India's manufacturing strength... Raymond is a national asset. We nurture the brand like we would a child.' Singhania concluded his speech with a broader industry outlook: 'India ranks fifth globally in the textile segment and the industry is the second-largest employer in the country. We have all the right elements to become a global textile powerhouse.'
Fashion Value Chain
07-05-2025
- Business
- Fashion Value Chain
Gautam Singhania at India @2047: 'India Can Lead Global Textiles'
Speaking at ABP Network's India @2047 Summit, Gautam Hari Singhania, Chairman and MD of Raymond Group, underscored India's unmatched potential to become a global textile leader, citing the ongoing tariff war as an opportunity India must seize. 'This is the most opportune time for the Indian textile industry,' Singhania said during a session titled 'The Fabric of India: Strength and Sustainability.' He emphasized India's rich heritage—from Dhaka's muslin to khadi—and called for a stronger push for indigenous fabrics and a change in mindset around ethnic wear. Reflecting on Raymond's 100-year journey, he remarked, 'Raymond is a national asset. From ₹300 to ₹10 lakh per meter—we serve everyone, from the taxi driver to Mr. Tata.' He shared that Raymond's fabrics now reach 55 countries, reinforcing India's manufacturing credibility. Addressing global supply chain shifts, Singhania noted: 'Walmart sources 60% of its goods from China. As trade tensions rise, India must step up with a resilient, scalable supply chain.' He added, 'We're already the third-largest garment maker—we aim to be first.' On the brand's expansion into real estate, he explained that high costs in cities like Mumbai made manufacturing unviable, and diversification was a natural response to market realities. He concluded by emphasizing sustainability, employment, and India's global ambitions, stating, 'We have everything needed to become a textile superpower.'
Time of India
07-05-2025
- Politics
- Time of India
We act in India's interest, not worried about world reaction: PM Modi
NEW DELHI: Brushing aside Pakistan's aggressive rhetoric declaring India's decision to put the on hold, PM Tuesday said the water, which belonged to the country, would flow in India's favour and be used by India only. Tired of too many ads? go ad free now "Pehle Bharat ke haq ka paani bhi bahar ja raha tha... ab Bharat ka paani Bharat ke haq me bahega, Bharat ke haq mai rukega aur Bharat ke hi kaam aayega (Earlier, even the water belonging to India was flowing out, now India's water will flow for India's benefit, will stay here for India's benefit and will be utilised for India only)," the PM said in his speech at an event organised by ABP Network amid loud applause and slogans of 'Bharat Mata Ki Jai' and 'Modi-Modi'. His first remarks after New Delhi decided to pause operation of the water treaty under which waters of Indus, Jhelum and Chenab have been earmarked for Pakistan followed stark visuals of dramatic drop in water level of Chenab as a consequence of India starting desilting and flushing of Baglihar and Salal dams. Significantly, Modi also asserted that his govt believed in taking decisions in the country's interest, unconcerned about how the international community might react. Though he did not elaborate, the assertion was seen as another sign that the counsel of a few foreign capitals for restraint might not be a determining factor in how the Modi govt responds to the Pakistan-backed terror attack. "For decades, we had this negative mindset where people would worry before taking a big decision, 'what will the world think, will we get votes or not'? And decisions and big reforms languished due to such considerations," he said. Tired of too many ads? go ad free now The audience's response, like in Modi's earlier public speeches post-Pahalgam, was indicative of the strong desire for retaliation against Pakistan. The crowd started applauding as soon as he said that these days, water had become a hot topic of discussion. "You people are really smart, got it right immediately," an indulgent PM said. Modi, in keeping with the 'India@2047' theme of the event, focused his speech on development. He said for decades, the water of our rivers was a subject of tension and conflict, but the govt, in collaboration with state govts, had launched a massive campaign to link rivers. "The Ken-Betwa link project and the Parvati-Kalisindh-Chambal link project will benefit millions of farmers," the PM said as he cited several examples to claim that the decisions of his govt were merit-based unlike past govts, which were more considerate about vote bank and their own survival. The PM said when people looked at country now, they could proudly say "democracy can deliver", and stressed that the govt was moving from a GDP-centric approach to progress based on Gross Empowerment of People (GEP). Referring to the new waqf law, Modi said the need for reforming the law was being felt for decades, but to satisfy a vote bank, even this noble work was defamed. "Now amendments have been made which in real sense will help poor Muslim mothers and sisters & poor Pasmanda Muslims."
Indian Express
07-05-2025
- Business
- Indian Express
Takeaways from India-UK Free Trade deal: First off the block, bipartisan, deepens bilateral economy story
THREE years ago, on April 22, 2022, then British Prime Minister Boris Johnson was on an India visit where he called Prime Minister Narendra Modi his 'khaas dost' and said both leaders had asked their negotiators to reach an agreement on the Free Trade Agreement by 'Diwali' of 2022. Both sides missed that deadline but they accomplished it on Tuesday marking a pivotal point on a bilateral arc, steered by Union Commerce Minister Piyush Goyal right through, that has cut across the political spectrum in London. Shortly after he announced the agreement, speaking at an ABP Network event, Modi said that he had talked to PM Keir Starmer. 'This agreement for mutual trade and economic cooperation between two big and open market economies of the world will add a new chapter in the development of both countries,' he said. Calling it 'great news for our youth,' Modi said it would boost economic activity in India, bring 'new opportunities for Indian businesses and MSMEs'. Referring to the recent trade agreements with UAE, Australia and Mauritius, he said: 'India is not just reforming but is actively engaging with the world to make itself a vibrant trade and commerce hub.' The finalisation of the India-UK FTA marks three key takeaways. One, the UK has stolen a march over the two other FTAs India is negotiating with the US and the European Union. Since Brexit in January 2020, talks on a bilateral trade deal gathered momentum and the UK has been aggressively negotiating with India over the last three years. The changed geo-economic environment gave a sense of urgency to the pace. After US President Donald Trump imposed universal tariffs and then put a pause on it for 90 days, India has started negotiating a deal with the US. US Treasury Secretary Scott Bessent has indicated that the one with India could be one of the first trade deals with the US. That was the highlight of PM Modi's talks with US President Trump this February and of the recent visit of Vice President J D Vance. The European Union is also pushing for the India-EU FTA and that, too, was reflected when the 22 European College of Commissioners visited India in February this year, led by EU chief Ursula von der Leyen. That the UK has sealed the first one puts India at an advantage as it talks with Washington and Brussels (which has to negotiate on behalf of 27 European member countries) to extract key concessions. Two, the deal has the imprimatur of a bipartisan consensus in the UK. Johnson had kickstarted negotiations in 2022; the last phone conversation between his successor PM Rishi Sunak and Modi was on March 12, 2024 — before both India and the UK went in for the elections. In that call, Sunak and Modi 'assessed positively the progress made towards early conclusion of a mutually beneficial Free Trade Agreement'. In a sense, a bulk of the negotiations was wrapped up and the understanding was that the leaders would pick up the thread after the elections. The Conservatives lost, and on July 6, a day after Keir Starmer led a Labour landslide ending the 14 years of Tory rule, Modi spoke to him and the two leaders 'agreed to work towards an early conclusion of a mutually beneficial India-UK free trade agreement'. According to 10, Downing Street, the British Prime Minister, while discussing the FTA, had said he stood ready to conclude a deal 'that worked for both sides'. In a sense, it was a seamless transition between the Tories and Labour — arch political rivals. What helped was that Modi's BJP -led coalition government went into the third term. Three, the FTA reinforces the economic relationship which is the most crucial pillar of the India-UK bilateral 'Comprehensive Strategic partnership' — like the defence pillar is with the French and the Russians. This pact unlocks the potential in economic ties and can build confidence in other key sectors as well. India-UK bilateral trade (both goods and services) stood at £40.9 billion in the four quarters to the end of Q3 2024 (up to September). India's total imports from the UK amounted to £17.5 billion and India's total exports amounted to £23.4 billion. India was the UK's 11th largest trading partner in this period accounting for 2.4% of UK's total trade. India retains the position of second-largest source of Foreign Direct Investment (FDI) in the UK, after the US. UK is the 6th largest investor in India. In that context, FTA adds depth and breadth to the bilateral ties. The Indian statement flags this: 'This agreement cements the strong foundations of the India-UK Comprehensive Strategic Partnership, and paves the way for a new era of collaboration and prosperity.' From defence and security, critical technologies to education, Indian diaspora to tourism — India and UK are working towards strengthening ties across sectors. Modi invited Starmer to visit India soon, and as an Indian official summed it up, 'the FTA is the floor, not the ceiling (for the relationship).' With inputs from Vikas Pathak
The Print
06-05-2025
- Politics
- The Print
‘India's waters will now be used only in India's interests'—Modi issues strong message to Pakistan
Modi made these remarks in New Delhi while speaking at a conclave hosted by ABP Network. At a time when tensions are high between the two countries ahead of possible military action by India, the PM, without naming Pakistan, said water will now be reserved for the benefit of Indians and will not go out of India. New Delhi: Prime Minister Narendra Modi Tuesday said that while India's waters used to flow outside, it will now be used only in the country's interests, in remarks that came days after his government put in abeyance the Indus Waters Treaty in a diplomatic offensive against Pakistan after the Pahalgam terror attack. He said there has been a lot of discussion regarding water in the media. 'Pehle Bharat ke haq ka pani bhi bahar jaa raha tha. Now India's water will flow for India, will be retained for India, and it will be utilised for Indian interests only,' he said. 'For decades, the water of our rivers was made a subject of tension and conflict, but our government, in collaboration with the state governments, has started a mega campaign to link the rivers. Ken-Betwa (River) Link Project, Parvati-Kalisindh-Chambal Link Project…these will benefit millions of farmers,' he added. After putting the Indus Waters Treaty in abeyance, India also initiated flushing of the reservoirs of Baglihar and Salal, its two run-of-the-river hydroelectric power projects on the Chenab river in Jammu & Kashmir, a move that has impeded flow of Chenab water downstream and is set to impact kharif sowing in Pakistan. ThePrint had reported how the decision is among a series of diplomatic measures India has initiated against Pakistan, whose involvement it suspects in the Pahalgam terror attack which claimed the lives of 26 people on 22 April. India had earlier also cut down Pakistan's diplomatic presence, cancelled all Pakistani visas, and shut down the Wagah-Attari border in Amritsar too. (Edited by Gitanjali Das) Also Read: Amid India-Pakistan tensions, LeT terrorist leaders resurface to incite followers over Indus waters
