Latest news with #sourcing
Mint
2 days ago
- Business
- Mint
A decade of reforms makes India a trusted global growth partner: Minister Goyal
New Delhi: A decade of reforms under prime minister Narendra Modi has cemented India's position as a trusted global growth partner, commerce and industry minister Piyush Goyal said on Sunday, citing the Swedish Chamber of Commerce India's Business Climate Survey 2025-26. In a post on social media platform X, Goyal noted that rising confidence in India's business climate is evident, with most surveyed companies planning to scale up investments in the coming year. "A large number of the companies surveyed are expecting their turnover to increase over the next year, especially those involved in Construction & Building, Aerospace & Defence, IT & Electronics, and Business Services," he said. Swedish Chamber of Commerce India is an independent, non-profit organisation, and works to promote Swedish companies in the country. Goyal added that India has become increasingly central to global sourcing strategies in recent years, driven by cost efficiency, with the survey reaffirming confidence in India's growth story and its emergence as a key hub in global value chains. To be sure, India's manufacturing output grew at 4.5% to ₹ 29.54 trillion in FY25, according to the latest data from the Ministry of Statistics and Programme Implementation (MoSPI) released last week. A key highlight of the FY25 data is a slight improvement in exports this year, while a reduction in imports helped reduce the shock on account of negative net exports. Exports grew 6.3% in rupee terms in FY25 from the year-ago period to ₹ 40.68 trillion, while imports contracted by 3.7% annually to ₹ 42.29 trillion. "The growing confidence in India's business climate also reflects in the majority of companies surveyed, especially those in manufacturing, looking to increase their investment in the coming year," Goyal said. "The report reconfirms the confidence in India's growth story and also their focus on developing India as a hub in global value chains," he added. Interestingly, Goyal's remarks come during his three-day official visit to France, part of a five-day tour of France and Italy from 1 June to 5 June, aimed at deepening India's strategic and economic ties with key European partners. India is actively pursuing a trade agreement with the European Union (EU), aiming to bolster its global economic standing. India and the EU aim to finalize their free trade agreement by the end of 2025, focusing on market access, digital trade, and innovation. The EU, India's largest trading partner, accounted for €124 billion in goods and €60 billion in services trade in 2023, with the deal expected to strengthen this partnership further. The India-UK Free Trade Agreement, finalized on 6 May, marks a key milestone, cutting tariffs on 90% of British imports to India and granting zero duties on 99% of Indian exports to the UK. It is set to boost bilateral trade by £25.5 billion annually by 2040 and add £4.8 billion to the UK economy each year.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Stocks to Watch Friday: Dell, Costco, Ulta, Regeneron
A shopper outside a Costco store in California. The chain is pulling orders forward and sourcing more of its products where they are sold. (David Paul Morris/Bloomberg News)
Business Wire
21-05-2025
- Business
- Business Wire
HealthEZ Launches EZrx: Redefining Pharmacy Benefits Management
MINNEAPOLIS--(BUSINESS WIRE)--HealthEZ, a national third-party benefits administrator, is proud to introduce EZrx, a next-generation pharmacy solution that leverages six cost-reduction strategies to deliver up to 50% savings compared to traditional pharmacy benefit plans. This solution supports self-funded plans by targeting high-cost prescriptions and optimizing pharmacy spend. EZrx is designed to bring down pharmacy costs by up to 50% compared to traditional PBM solutions. Share EZrx places the clinical review outside of the Pharmacy Benefit Manager, ensuring employers pay the lowest net cost on any medication over $1,000 per fill. This program will soon feature an innovative digital experience, allowing members to compare prices and transfer their prescriptions to the lowest-cost pharmacy with the click of a button. By shifting control of clinical review away from the PBM, EZrx significantly reduces costs by identifying and sourcing medications through the most effective channels while simplifying everything from patient assistance to authorization management. EZrx is a game changer for employers looking to control rising pharmacy costs while ensuring exceptional care for their employees. According to Josh Schreiner, Chief Product Officer at HealthEZ, ' EZrx is designed to bring down pharmacy costs by up to 50% compared to traditional PBM solutions. By managing claims over $1,000, EZrx can identify the lowest net cost channel or alternative medication that can yield maximum savings for our customers while delivering a member incentive to produce a win-win for all parties involved.' Learn more about how EZrx can revolutionize your pharmacy benefits at About HealthEZ HealthEZ is a national third-party administrator helping employers across the U.S. design custom benefit plans that deliver better, more flexible coverage at lower costs. With a fully integrated model and robust digital platform, HealthEZ ensures a seamless experience for members while driving meaningful cost containment. Backed by a dedicated care advocacy team and expert guidance, HealthEZ simplifies self-funding—making it smarter, more efficient, and more effective for employers and their employees.
Yahoo
21-05-2025
- Business
- Yahoo
WIN SOURCE Named to Electronics Sourcing Top Independent Distributors in the Americas
The Top 6 Americas Independent Distributors LAGUNA HILLS, Calif., May 20, 2025 (GLOBE NEWSWIRE) -- WIN SOURCE, a leading global independent distributor of electronic components, has been named to the Electronics Sourcing 2025 list of Top Independent Distributors in the Americas, recognized for consistent performance in service capabilities, delivery responsiveness, and regional collaboration across North and Latin America. Previously featured in the publication's Global Distributor Rankings for three consecutive years, WIN SOURCE's inclusion in this year's Americas list marks a milestone in its ongoing expansion of localized service infrastructure and regional fulfillment capacity. "This milestone reflects WIN SOURCE's steady progress and accumulated expertise in global supply chain support," said Ethan, Chief Executive Officer of WIN SOURCE. "It is a direct result of our team's dedicated execution, cross-system coordination, and customer responsiveness. We will continue to optimize our supply chain service infrastructure to deliver greater collaborative value to customers worldwide." As the global supply chain landscape undergoes structural transformation, manufacturers increasingly require systems that enable faster response, enhanced risk control, and seamless cross-regional coordination. In response to these demands, WIN SOURCE is evolving beyond its traditional role as a distributor, positioning itself as a strategic participant in global sourcing collaboration networks. According to Ethan, distributors with forward-looking capabilities must build localized agility, global delivery coordination, and data-driven decision-making support to ensure secure, stable sourcing environments. WIN SOURCE is actively investing in these areas, advancing core capabilities such as intelligent BOM matching, multi-location warehouse orchestration, and API-based customer interface integration. This strategy has begun to receive positive recognition across the industry. This roadmap is already taking shape in day-to-day operations. Backed by a distributed fulfillment network across North America, Europe, and Asia-Pacific, WIN SOURCE provides flexible delivery routes and rapid replenishment options through centralized platform oversight and real-time inventory visibility—enabling customers to navigate multi-site manufacturing environments with increased scheduling stability and cost efficiency. As sourcing challenges grow increasingly complex for enterprise customers, WIN SOURCE continues to enhance its digital service experience through the proprietary WinLink platform, which offers smart support modules for BOM optimization, compatible alternatives, end-of-life risk alerts, and inventory recovery strategies—helping customers improve transparency and agility across design, sourcing, and material transitions. Looking ahead, WIN SOURCE will continue to advance its dual focus strategy of "system capabilities + global responsiveness," expanding enterprise-level service structures for OEMs, EMS providers, and R&D teams. The company remains committed to evolving from traditional distribution to collaborative value delivery, building a more transparent, resilient, and controllable sourcing infrastructure for the electronics supply chain. About WIN SOURCE is a leading electronic components supplier, offering innovative procurement solutions that ensure rapid access to real-time product insights and seamless support for customers worldwide. With a mission to redefine exceptional customer service, WIN SOURCE combines advanced e-procurement systems with a customer-first approach to eliminate delays and simplify global sourcing challenges. For further information, contact: Phone:+65 6865 9377Email: service@ Address: 23046 Avenida de la Carlota, Laguna Hills, CA 92653, United States Reprinted from WIN SOURCE ELECTRONIC-NEWS© 2025 Win Source Electronics. All rights reserved. This content is protected by copyright and may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Win Source Electronics. A photo accompanying this announcement is available at
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Business Standard
19-05-2025
- Business
- Business Standard
Bangladesh import curbs won't hurt Indian textile majors, say experts
India's decision to ban imports of several items like textile goods from Bangladesh via land routes is unlikely to have much impact on domestic retail majors, said top industry sources. Industry experts say that Indian companies can easily replace Bangladeshi goods through domestic sourcing, as the quantity is minimal. According to the Indian Texpreneurs Federation (ITF), an industry association, India imported around $618 million worth of woven and knitted apparel from Bangladesh during the 11-month period up to February in the last financial year. Bangladesh's share in India's apparel imports stands at around 35–40 per cent. 'Due to the zero-duty advantage, Indian retailers have been extensively importing garments from Bangladesh. A reduction in such imports is expected to strengthen domestic production and provide vital support to local manufacturers across the value chain,' said Prabhu Dhamodharan, convenor of Coimbatore-based ITF. Based on a notification by the Commerce Ministry, dated May 17, imports from Bangladesh will only be allowed through Mumbai's Nhava Sheva and Kolkata's seaports. This will make Bangladeshi goods even more expensive, acting as a disincentive for Indian importers. 'The move will increase cost, lead time, and make it difficult for small importers to manage. Currently, India has given duty-free access to Bangladesh, and more than ₹6,000 crore is coming annually from that country. Restrictions on that mean at least ₹1,000–2,000 crore of that may be replaced by Indian manufacturing,' said Sanjay Kumar Jain, managing director (MD) of textile producer TT Ltd. Experts highlight that this move would also reduce the backdoor entry of Chinese fabrics into India (without duty) that were getting converted in Bangladesh and being sent to India duty-free. Chinese fabrics, if imported directly from China, have 20 per cent import duty. A dominant retail player in India said that it will start sourcing from the domestic market completely. 'This move addresses the industry's long-standing concern regarding the unchecked inflow of low-cost apparel into the Indian retail market, which was adversely impacting domestic manufacturers, particularly micro, small and medium enterprises (MSMEs). The decision is a timely step towards preventing the dumping of foreign-made garments and strengthening India's self-reliance in apparel production,' said Santosh Katariya, president, Clothing Manufacturers Association of India (CMAI). 'We believe this policy must be complemented with continued support for capacity building and ease of doing business for Indian manufacturers. Enhancing the competitiveness of our MSMEs is critical to fully harness the opportunities created by such progressive trade measures,' Katariya added. The step may impact buyers temporarily as their supply chain will be disrupted and have higher cost and lead time. 'They will need to re-align, and for products with less difference in cost and quality, they will shift to Indian suppliers,' Jain said. 'Most of our apparel is sourced from within the country. Our vendors at times import accessories for clothes from other markets. Even the little that we were sourcing from other markets will be stopped,' a company executive, on condition of anonymity, said.
