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New Delhi: The government is aiming to position itself as a textile sourcing and investment destination through seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks with an investment of ₹70,000 crore in the next 5 years, said textile secretary Rachna Shah. The government is looking to attract foreign direct investment (FDI) through PM MITRA and several other schemes. “We are hopeful that seven PM MITRA parks will emerge as growth centres in the textile sector, seeking the support of global investment players to invest in India and source textile from India," Shah said. The ministry is also focusing on increasing footprints in technical textiles, which is a growing market. Currently, India is exporting technical textiles, inclu...

In this article, we will take a look at the 25 most expensive shoe brands in the world. If you want to skip our detailed analysis, you can go directly to the 5 Most Expensive Shoe Brands In the World. According to a report by Grandview Research, the global luxury footwear market was valued at $33.52 billion in 2022. The global luxury footwear market is expected to grow from $33.82 billion in 2023 to $57.78 billion by 2030 at a compound annual growth rate (CAGR) of 7%. As per the report, the formal shoe market dominated the industry with a revenue share of 58.2% in 2022. The rise in popularity of formal shoes primarily comes from professionals in the corporate or fashion industries. Additionally, North America dominated the market with a revenue share of 29% in 2022. The number of wealthy p...

A push by the US to drastically reduce its reliance on mainland China has forced Hong Kong exporters to sever some ties at home and over the border, with firms also cutting down on imports of raw materials due to threats of boycotts, industry leaders have told the Post.But a shippers’ organisation said moves to diversify away from the country would not be easy, as it was an integral part of the global supply chain and difficult to replace. Amid the disruption, manufacturers and brands both locally and abroad said they had to face new business realities, some of which required overhauling operations.Dennis Ng Kwok-on, vice-president of the Chinese Manufacturers’ Association of Hong Kong, told the Post that the United States had started to ask local exporters who recently moved operations to...