Latest news with #SIMA
Time of India
01-08-2025
- Business
- Time of India
US tariff hike: TN textile industry seeks PM's intervention
COIMBATORE: Textile industry stakeholders have voiced concern over the recent hike in US tariffs on textile and garment imports, warning that the move could dent export competitiveness and disrupt trade momentum at a time when India is expanding its global trade engagements. Southern India Mills' Association (SIMA) chairman S K Sundararaman expressed concern over the US tariff decision. While India was celebrating the progress of its Free Trade Agreement (FTA) with the UK and ongoing trade negotiations with the European Union, the unexpected tariff hike by the US came as a major setback, he said. 'The announcement is a blow to our exporters, especially with the festive season and summer export orders on the horizon,' he said. India currently exports about US$11 billion worth of textiles and garments to the US, accounting for nearly 30% of the country's total garment exports. India's share in the US garment import market saw steady growth, from 4.5% in 2020 to 5.8% in 2024. He urged Prime Minister Narendra Modi to intervene and speak to US President Donal Trump and press for the withdrawal of the penal tariffs. He emphasised the need to fast-track the scheduled bilateral trade negotiations between India and the US, expected to take place in October–November this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Up to 70% off | Shop Sale Libas Undo Prabhu Dhamodharan, convenor of the Indian Texpreneurs Federation, said the recent tariff changes had tilted the playing field, putting India at a 5% disadvantage compared to Bangladesh, Vietnam and Cambodia—while retaining an edge only over China. However, India's fully self-reliant ecosystem—from raw materials to intermediates—continues to strengthen its position in the China Plus One strategy. 'Over the past few years, supply chain diversification from China spread across 4–5 countries, with India emerging as a top sourcing destination. Despite short-term tariff challenges, buyers will continue multi-country sourcing with India on focus. To sustain momentum, industry and govt must work together to protect US market gains. We remain confident that future negotiations will lead to lower tariffs,' he said. MP Muthurathinam, president of the Tirupur Exporters and Manufacturers Association (TEAMA), said that the textile sector is the second-largest employment provider in India after agriculture. 'US President Donald Trump acted more like a businessman than a political leader. Our Prime Minister must now engage in strategic negotiations to safeguard India's interests. Although India ranks sixth globally in apparel exports, without proper support, we will not be able to sustain our position or effectively compete with global counterparts,' he said. Kumar Duraisamy, joint secretary of the Tirupur Exporters' Association, said, 'It is too early to assess the impact of the new tariff on India. A delegation from the US is expected to arrive in mid-August for the sixth round of negotiations. Since both countries are major markets for each other, we anticipate some clarity in the next two weeks.' 'Whether the impact is positive or negative will become evident only in the next six months. It is a gradual process, and we must wait to see how things unfold,' he added.
Fibre2Fashion
31-07-2025
- Business
- Fibre2Fashion
US tariff shock for industry, may affect India's export orders: SIMA
The Southern India Mills' Association (SIMA) has termed the US tariff as a shock. It stated that the move was unexpected and could potentially disrupt export flows in the short term. SIMA chairman, Dr. S K Sundararaman, noted that the industry had been celebrating the progress of the India–UK Free Trade Agreement (FTA), but the sudden tariff announcement could impact export orders to the US. In a statement, the SIMA Chairman said this development poses a serious setback that could undermine India's overall textile export performance in the near term. With the festival season approaching rapidly, the tariff could severely affect export orders for the upcoming summer season. SIMA has called the US tariff move a 'shock', warning it may disrupt near-term exports. Chairman Dr S K Sundararaman highlighted the risk to summer season orders, especially during the upcoming festive period. While India exports $11 billion in textiles to the US, the additional penal tariff could further harm competitiveness. SIMA has urged PM Modi to engage US President Donald Trump to seek relief. Dr. Sundararaman highlighted that India exports approximately $11 billion worth of textiles and clothing to the US, which accounts for nearly 30 per cent of the country's total exports in the segment. India's share in the US garment import market has risen from 4.5 per cent in 2020 to 5.8 per cent in 2024, reflecting a positive growth trajectory. He pointed out that Indian exports of made-ups to the US market currently attract a 9.6 per cent duty, while readymade garments face duties of up to 16 per cent—both of which significantly affect competitiveness. He added that while the 25 per cent tariff may seem manageable when compared to those imposed on competing countries, the real concern lies in the proposed penal tariff, the implications of which may become evident only later. He urged Indian Prime Minister Narendra Modi to take up the issue with US President Donald Trump, request the withdrawal of the penal provision, and expedite the bilateral negotiations scheduled for October–November 2025. Dr. Sundararaman expressed confidence in the negotiation capabilities of the country's leadership and added that the industry remains hopeful for a favourable agreement in the near future. Fibre2Fashion News Desk (KUL)
Hype Malaysia
18-07-2025
- Entertainment
- Hype Malaysia
Coca-Cola Brings Back 'Share A Coke' Campaign, Allowing You To Personalise Its Cans & Bottles
Remember the thrill of finding your name on a Coca-Cola bottle? The iconic 'Share a Coke' campaign is back and pushing the boundaries of innovative brand experiences with even more reimagined ways to connect and celebrate friendship. Coca-Cola is deepening those connections, moving beyond fleeting digital interactions to create lasting, real-world moments for the new generation. In 2011, Coca-Cola launched this first-of-its-kind campaign in which you could find your name in place of the logo – an industry-first in personalisation. 'Share a Coke' revolutionised how people saw their favourite drink. Now, this pioneering campaign evolves, offering richer, more engaging experiences. Understanding the desire for genuine connection, especially among Gen Z (where 72% crave authenticity*), 'Share a Coke' offers a simple yet powerful way to express care.* With the intuitive Share a Coke online platform and interactive Personalisation Hubs, creating a unique, personalised Coca-Cola has never been easier. Get ready to share the magic! Find personalised Coca-Cola cans at MAJOR SUPERMARKETS AND CONVENIENCE STORES now! Join the excitement at the different Share a Coke Personalisation Hubs popping up in different locations nationwide for live, interactive experiences, where you can create your own personalised cans and bottles. Heon Theng Hsiang, Senior Manager, Frontline Marketing – Singapore Malaysia (SIMA) at Coca-Cola, says, 'In our digital age, celebrating genuine connections is more important than ever. 'Share a Coke' is a reminder that the best memories are made when we come together. Those spontaneous moments of laughter and connection, shared over a Coke, are what life is all about.' This is part of Coca-Cola's big 'Share a Coke' activation, bringing LIVE name customisation straight to the iconic Bukit Bintang! From the iconic personalised Coke cans to now taking over Bukit Bintang's screens — it's all happening LIVE with on-the-spot customisation. Follow Coca-Cola on Facebook and Instagram and visit the Share a Coke Online Platform to stay updated. Share your moments using the hashtag #ShareACoke @Cocacolamy
Cision Canada
24-06-2025
- Business
- Cision Canada
SIMA supports clarity and consistency for phase 5 of CIRO's rule-consolidation project Français
TORONTO, /CNW/ - The Securities and Investment Management Association (SIMA) has submitted its comments on phase 5 of the Canadian Investment Regulatory Organization's (CIRO) rule-consolidation initiative. The submission reaffirms SIMA's commitment to supporting a regulatory framework that promotes clarity, consistency, and efficiency in the implementation of CIRO's new consolidated rules. When the project is completed, CIRO's current rulebooks—one for investment dealers and one for mutual fund dealers—will be replaced by a single, unified set of regulations called the CIRO Dealer and Consolidated (DC) Rules. "We support this important initiative and thank CIRO for accepting our recommendation to publish the consolidated DC Rules for final review and comment in phase 6," said Andy Mitchell, SIMA's President and CEO. "We continue to encourage CIRO to provide a generous comment period for phase 6, given that this will be the first opportunity for stakeholders to assess the fully consolidated rules. Extending the comment period to 120 days will ensure stakeholders have the time necessary to provide meaningful feedback in support of the successful implementation of the new framework." We continue to recommend that CIRO not put the rules into effect until they provide supporting guidance for public comment. Also, once the rules are finalized, we urge CIRO to allow for an appropriate transition period before the rules become effective. This will enable CIRO dealer members to update internal policies, procedures, and IT systems, and provide training before implementation. About SIMA SIMA empowers Canada's investment industry. The association, formerly the Investment Funds Institute of Canada (IFIC), is the leading voice for the securities and investment management industry. The industry oversees approximately $4 trillion in assets for over 20 million investors and participates in the Canadian capital markets. Our members — including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers — are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.
Yahoo
24-06-2025
- Business
- Yahoo
SIMA supports clarity and consistency for phase 5 of CIRO's rule-consolidation project
TORONTO, June 24, 2025 /CNW/ - The Securities and Investment Management Association (SIMA) has submitted its comments on phase 5 of the Canadian Investment Regulatory Organization's (CIRO) rule-consolidation initiative. The submission reaffirms SIMA's commitment to supporting a regulatory framework that promotes clarity, consistency, and efficiency in the implementation of CIRO's new consolidated rules. When the project is completed, CIRO's current rulebooks—one for investment dealers and one for mutual fund dealers—will be replaced by a single, unified set of regulations called the CIRO Dealer and Consolidated (DC) Rules. "We support this important initiative and thank CIRO for accepting our recommendation to publish the consolidated DC Rules for final review and comment in phase 6," said Andy Mitchell, SIMA's President and CEO. "We continue to encourage CIRO to provide a generous comment period for phase 6, given that this will be the first opportunity for stakeholders to assess the fully consolidated rules. Extending the comment period to 120 days will ensure stakeholders have the time necessary to provide meaningful feedback in support of the successful implementation of the new framework." We continue to recommend that CIRO not put the rules into effect until they provide supporting guidance for public comment. Also, once the rules are finalized, we urge CIRO to allow for an appropriate transition period before the rules become effective. This will enable CIRO dealer members to update internal policies, procedures, and IT systems, and provide training before implementation. About SIMASIMA empowers Canada's investment industry. The association, formerly the Investment Funds Institute of Canada (IFIC), is the leading voice for the securities and investment management industry. The industry oversees approximately $4 trillion in assets for over 20 million investors and participates in the Canadian capital markets. Our members—including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers—are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians. SOURCE Securities and Investment Management Association View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
