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Article 21-08-2023

Apparel Industry Facing Skills Gap

21 August 2023, Mumbai

The apparel industry is facing increasing pressure to provide comprehensive skills training and development for its workforce. This is due to several challenges, including:

Growing demands of consumers for faster and more cost-effective product delivery. Consumers are demanding shorter lead times and lower prices, which puts pressure on apparel businesses to streamline their operations and find ways to reduce costs. This can be difficult to do without a skilled workforce that can operate efficiently and effectively.
Need to comply with transparent and sustainable supply chains. Consumers are increasingly concerned about the environmental and social impact of the apparel industry. This has led to a growing demand for apparel businesses to adopt transparent and sustainable supply chains. This requires a skilled workforce that is knowledgeable about these issues and able to implement them in practice.
Lack of comprehensive skill assessments. There is no standardized way to assess the skills of apparel workers. This makes it difficult for businesses to identify the skills gaps in their workforce and to develop training programs that are tailored to their specific needs.
Shortage of budget for training. Apparel businesses are often under financial pressure, which can make it difficult for them to invest in training and development. This is especially true for small and medium-sized businesses.

Solutions to the Skills Gap

What all you need to know

There are several things that apparel businesses can do to address the skills gap. These include:

Focus on employee career growth. Businesses should create a culture of learning and development where employees are encouraged to develop their skills and advance their careers. This can be done by providing opportunities for training and development, as well as by offering clear career paths.
Develop a coherent methodology for assessing training effectiveness. Businesses should develop a systematic way to assess the effectiveness of their training programs. This will help them to ensure that they are investing their resources in the most effective way possible.
Revive traditional skills. Some traditional skills, such as sewing and patternmaking, are becoming increasingly scarce in the apparel industry. Businesses should consider reviving these skills by offering training programs or by hiring experienced workers with these skills.
Partner with industry associations and educational institutions. Businesses can partner with industry associations and educational institutions to develop and deliver training programs. This can help them to tap into the expertise of these organizations and to get access to high-quality training programs.

Examples of Initiatives to Address the Skills Gap

There are several initiatives that are being taken to address the skills gap in the apparel industry. These include:

Apparel Training & Design Centre (ATDC). The ATDC is India's largest vocational training network for the apparel sector. It offers a variety of training programs, including technical design, product development, and quality control.
NIFT TEA Knitwear Fashion Institute. The NIFT TEA Knitwear Fashion Institute has been implementing skill training programs for industry needs. It has a good placement record and has been recognized for its outstanding contribution to skill development.
Haryana Skill Development Mission (HSDM). The HSDM had signed in the past a MoU with the Apparel Made-Ups & Home Furnishing Sector Skill Council (AMH SSC). This will help to align the training providers of HSDM with the AMH SSC and ensure that their courses are aligned with the National Occupational Standards (NOSs).
Ministry of Education and University Grants Commission (UGC). The UGC has in the past jointly implemented a project with Gesellschaft für Internationale Zusammenarbeit (GIZ) to reduce the skill gap of mid-level managers in the textile and Readymade Garments (RMG) sector.

Conclusion

By investing in training and development, apparel businesses can ensure that they have the skilled workforce they need to succeed in the global marketplace.

By addressing the challenges and implementing the solutions outlined above, the apparel industry can create a more skilled and sustainable workforce for the future.

The apparel industry is facing a skills gap due to changing consumer demands, environmental concerns, and lack of training. Businesses can address this by investing in training and development, reviving traditional skills, and partnering with industry associations.

Here is a more detailed explanation of each point:

Changing consumer demands: Consumers are demanding faster and more cost-effective product delivery, as well as products that are made sustainably. This puts pressure on apparel businesses to streamline their operations and find ways to reduce costs, which requires a skilled workforce.
Environmental concerns: Consumers are increasingly concerned about the environmental impact of the apparel industry. This has led to a growing demand for apparel businesses to adopt sustainable practices, such as using recycled materials and reducing water waste. This requires a skilled workforce that is knowledgeable about these issues and able to implement them in practice.
Lack of training: There is no standardized way to assess the skills of apparel workers, which makes it difficult for businesses to identify the skills gaps in their workforce and develop training programs that are tailored to their specific needs. Additionally, many apparel businesses are under financial pressure, which can make it difficult for them to invest in training and development.

By addressing these challenges and implementing the solutions outlined above, the apparel industry can create a more skilled and sustainable workforce for the future.

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Article 21-08-2023

Upcycling: Turning old clothes into new garments

19 August 2023, Mumbai

A Sustainable Way to Reduce Waste in the Fashion Industry

Upcycling is the process of transforming waste materials into new products of higher quality or value. In the context of fashion, upcycling means giving old clothes a new lease on life by repairing, altering, or repurposing them.

This can be done in a variety of ways, depending on the materials and the creativity of the upcycled.

What all you need to know

Benefits of Upcycling Fashion

Upcycling fashion has many benefits, both environmental and personal.

Environmental benefits:

Upcycling helps to reduce waste and conserve resources. The fashion industry is a major contributor to waste, producing around 92 million tons of textile waste each year. Upcycling can help to reduce this waste by giving old clothes a new life.

Personal benefits:

Upcycling can be a fun and creative way to express your personal style. You can customize old clothes to fit your unique taste and needs. It can also be a great way to save money.

How to Upcycle Fashion

There are many ways to upcycle fashion. Here are a few ideas:

Repair torn or damaged clothes:

This can be done by sewing, darning, or patching.

Alter clothes to fit better or change the style: This can be done by taking in or letting out seams, adding or removing sleeves, or changing the hemline.
Repurpose clothes into new items:

This could include making a tote bag from an old t-shirt, a quilt from old jeans, or a pillow from a worn-out sweater.

Get creative!:

There are endless possibilities when it comes to upcycling fashion. Be creative and see what you can come up with.

Upcycling Initiatives by Brands

Rising consumer awareness of the environmental impact of the fashion industry has led to brands and companies embracing upcycling. Some brands that have launched upcycling initiatives include:

Doodlage: This sustainable fashion brand launched a 100% upcycled or recycled collection in 2022.
Pomogrenade: This Bengaluru-based ethical fashion brand upcycles old clothes and textiles to create new garments.
RaasLeela: This Gujarat-based label upcycles traditional textiles to create modern garments.
The Second Life: This platform connects people who want to give away or sell their unwanted clothes with people who want to upcycle them.
Patch over Patch: This social enterprise teaches people how to upcycle clothes and textiles.

The Future of Upcycling Fashion

The fashion industry is slowly waking up to the importance of sustainability. Upcycling is one of the ways that the industry can reduce its environmental impact. As awareness of upcycling grows, we can expect to see more brands and consumers embracing this sustainable practice.

Upcycling fashion is a sustainable way to reduce waste in the fashion industry. It gives old clothes a new lease on life and can be done in a variety of creative ways.

Here are some of the benefits of upcycling fashion:

It reduces waste and conserves resources.
It can be a fun and creative way to express your personal style.
It can save you money.

Here are some ways to upcycle fashion:

Repair torn or damaged clothes.
Alter clothes to fit better or change the style.
Repurpose clothes into new items.
Get creative!

There are many upcycling initiatives being launched by brands and companies. As awareness of upcycling grows, we can expect to see more brands and consumers embracing this sustainable practice.

Epilogue

Upcycling fashion is a fun, creative, and sustainable way to reduce waste and conserve resources. There are many ways to upcycle fashion, so get creative and see what you can come up with!

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Article 19-08-2023

India-EU Textile Trade: Challenges and Opportunities

14 August 2023, Mumbai

Context setting

India's textile sector is a major driver of the economy, providing employment to millions of people and generating billions of dollars in export revenue.

The sector is highly diverse, with a wide range of products and services, from traditional handwoven fabrics to cutting-edge textiles.

It is also highly competitive, with a large number of small and medium-sized enterprises.

India's textile sector is a major driver of the economy, providing employment to millions and generating billions in export revenue. It is facing challenges, but the India-EU FTA could help it become a global leader.

What all you need to know

Export Performance

India is a major exporter of textiles, with exports worth $7.3 billion in 2022.

The EU is a major destination for Indian textiles, accounting for 9% of India's total textile exports.

However, Indian textiles face stiff competition from other countries, such as Bangladesh and Vietnam, which have preferential tariff arrangements with the EU.

India-EU Free Trade Agreement

India is negotiating a free trade agreement (FTA) with the EU, which would eliminate tariffs on textiles and other products.

The FTA would also address other issues important to the textile sector, such as sustainability and intellectual property rights.

Conclusion

The India-EU FTA has the potential to boost the Indian textile sector and help it become a global leader.

The sector is facing some challenges, such as rising costs and competition from other countries. However, it is also well-positioned to take advantage of the opportunities offered by the FTA.

Additional Points

India has one of the world's oldest textile traditions, dating back thousands of years.

The textile sector is a major employer in India, providing jobs to millions of people.

The sector is a major source of foreign exchange earnings for India, generating billions of dollars in export revenue each year.

The sector is facing some challenges, such as rising costs and competition from other countries. However, it is also well-positioned to take advantage of the opportunities offered by the global economy.

The Indian textile sector is a key driver of the economy and has the potential to play a leading role in the global textile industry. The India-EU FTA is a major opportunity for the sector to grow and prosper.

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Article 16-08-2023

ESG regulations in EU shake up apparel industry

11 August 2023, Mumbai

Increased Transparency Requirements

The European Union (EU) has recently adopted new regulations that require apparel brands to be more transparent about their supply chains. These regulations demand comprehensive information about supplier identities, working conditions, and environmental impact.

What all you need to know

Hefty Fines for Non-Compliance

Non-compliance with these regulations can result in hefty fines.

This is putting apparel brands under pressure to ensure that their products are ethically sourced and manufactured.

Supply Chain Transparency as a Competitive Advantage

In addition to avoiding fines, supply chain transparency can also provide apparel brands with a competitive advantage.

By having visibility into their supply chains, brands can make better decisions about inventory management, product development, and logistics.

Technology to the Rescue

Technology is playing a key role in helping apparel brands achieve supply chain transparency.

Tools such as production tracking software and digital quality management tools can help brands to monitor their suppliers closely, communicate with them effectively, and establish safeguards to prevent ESG violations.

H&M: A Leader in ESG Performance

Swedish fashion giant H&M is one example of a brand that is using technology to improve its ESG performance.

The company has partnered with the global union federation IndustriALL to improve working conditions in its supply chain.

H&M is also using technology to track its suppliers and monitor their environmental impact.

Other Apparel Brands Making Progress

Other apparel brands are also taking steps to improve their ESG performance. Nike and VF Corp are two industry leaders that have made significant commitments to sustainability.

These companies are investing in renewable energy, reducing their water usage, and using recycled materials in their products.

Guess Sets an Example with Comprehensive ESG Strategy

Lifestyle brand Guess is another brand that is setting an example with its comprehensive ESG strategy.

The company has published a detailed ESG report that outlines its goals and progress in areas such as labor practices, environmental impact, and governance.

China's Role in Improving ESG Standards

China is also playing a role in improving ESG standards in the apparel industry. The country is investing heavily in the textile sector in Ethiopia, which is helping to create jobs and improve working conditions for women.

UK Fashion Retailers Face Scrutiny

The UK fashion industry is also facing scrutiny over its labor practices. A recent ranking by the Alva Group found that there is a wide range of ESG performance among UK fashion retailers. Some brands, such as Primark and Boohoo Group, are lagging behind in areas such as labor practices and safety.

The Future of ESG in the Apparel Industry

The new ESG regulations in the EU are a wake-up call for the apparel industry. Brands that fail to comply with these regulations will face stiff penalties.

However, brands that embrace transparency and sustainability can gain a competitive advantage in the long run.

The ESG regulations in the EU are part of a broader trend of increased scrutiny of the apparel industry.

Consumers are demanding more ethical and sustainable products, and brands are under pressure to meet these demands.

Technology is not a silver bullet for ESG compliance, but it can play a valuable role in helping brands achieve their ESG goals. The ESG regulations in the EU are a challenge for the apparel industry, but they also represent an opportunity.

Brands that can embrace transparency and sustainability can gain a competitive advantage and build a more sustainable future for the industry.

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Article 11-08-2023

Global Petroleum-Fuel Dyes and Markers Market

19 August 2023, Mumbai

The global petroleum-fuel dyes and markers market is estimated to be valued at US$ 467 million in 2023 and is projected to grow at a CAGR of 4.8% during the forecast period, 2023-2033.

The market growth is driven by the following factors:

Increasing production of petroleum and petroleum-based products

Rising adulteration of petroleum

An increasing number of government laws regarding fuel taxes

Petroleum-Fuel Dyes and Markers

Petroleum-fuel dyes are aromatic substances that are used to add color characteristics to gasoline and other petroleum products.

They possess inherent characteristics such as solubility and intense color and exhibit good affinity towards the end-use substrate.

Petroleum markers on the other hand are colourless substances, which when added to fuels are detected by adding a specific reagent.

Petroleum dyes and markers are used in applications where different grades of fuels are required to be distinguished, to prevent fuel adulteration and theft, and to add aesthetic appeal to fuels.

Key Drivers

The following are the key drivers of the global petroleum-fuel dyes and markers market:

Increasing production of petroleum and petroleum-based products: The global demand for petroleum and petroleum-based products is increasing due to the growing population and rising standards of living.

This is leading to the increased production of petroleum and petroleum-based products, which in turn is driving the demand for petroleum-fuel dyes and markers.

Rising adulteration of petroleum:

Petroleum adulteration is the practice of adding unauthorized substances to petroleum products in order to increase their volume or improve their appearance.

This is a major problem in many countries, and it is estimated that up to 20% of petroleum products sold in some countries are adulterated. Petroleum-fuel dyes and markers can be used to detect petroleum adulteration, which is helping to combat this problem.

An increasing number of government laws regarding fuel taxes:

Governments around the world are increasingly imposing taxes on fuel in order to raise revenue and reduce pollution.

This is leading to the increased use of petroleum-fuel dyes and markers, which can be used to differentiate between taxed and untaxed fuels.

Regional Analysis

The global petroleum-fuel dyes and markers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for petroleum-fuel dyes and markers, followed by Europe and Asia Pacific. The high demand for petroleum products in these regions is driving the market growth.

Key Players

The following are some of the key players in the global petroleum-fuel dyes and markers market:

Johnson Matthey (Tracerco)

DuPont

BASF SE

SGS SA

Innospec

Marquard & Bahls

Pylam Products Company, Inc.

John Hogg Technical Solutions

SBZ Corporation

United Color Manufacturing, Inc.

Spectronics Corporation

In summary

The global petroleum-fuel dyes and markers market is expected to grow at a steady pace during the forecast period, driven by the factors mentioned above.

The market is expected to witness significant growth in the coming years due to the increasing demand for petroleum products and the need to prevent fuel adulteration and theft.

CREDITS: Future Market Insights report

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Article 19-08-2023

The Personalized Clothing Industry: An Evolving Landscape

14 August 2023, Mumbai

The global personalized clothing industry is rapidly evolving, driven by a number of factors.

The market is expected to grow from USD 121.9 billion in 2021 to USD 272.2 billion by 2028, at a CAGR of 8.8%.

What all you need to know

Key Drivers

The key drivers of the personalized clothing market include:

Increasing demand for tailored attire: Consumers are increasingly looking for clothing that is tailored to their individual needs and preferences.

This is due to a number of factors, such as the growing awareness of body positivity, the desire to stand out from the crowd, and the need for clothing that is comfortable and functional.

Rise of e-commerce

E-commerce has made it easier for consumers to shop for personalized clothing. Online retailers offer a wider range of customization options than traditional brick-and-mortar stores, and they also offer the convenience of shopping from home.

Growing disposable income

The steady increase in consumers' disposable income is making them more willing to spend money on personalized clothing.

Key Challenges

Despite the growth potential of the personalized clothing market, there are also some challenges that need to be addressed. These challenges include:

Cost

Customized apparel often incurs a higher price point compared to mass-produced alternatives, which can be a barrier to widespread adoption.

Awareness

Many consumers are still not aware of the benefits of personalized clothing, which can also limit market growth.

Limited customization options: Some retailers offer a limited array of customization choices, which can limit the appeal of personalized clothing for some consumers.

Prospective Outlook

Despite these challenges, the outlook for the global personalized clothing market remains positive.

The market is expected to continue to grow in the coming years, driven by the enduring surge in demand for tailored attire, the escalating popularity of e-commerce platforms, and the consistent rise in consumers' disposable income.

Summation

The personalized clothing industry is a rapidly evolving market that is poised for sustained growth. Businesses that are able to address the challenges and capitalize on the opportunities in this market will be well-positioned to succeed.

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Article 16-08-2023

Raymond Group restructures

11 August 2023, Mumbai

Iconic

Raymond, one of India's oldest and most respected textile and apparel brands, has undergone a major restructuring in recent years.

The company has exited several non-core businesses, such as steel, cement, and synthetics, and is now focused on its core strengths of real estate, lifestyle, and engineering.

What all you need to know

Focal point

The lifestyle business is a key focus area for Raymond, and the company plans to double its size in the next five years. In 2023, the lifestyle business saw a 19% growth in the branded apparel segment.

Raymond is investing in strategic initiatives to bring its power brands Colors, Park Avenue, and Raymond RTW back on track for growth and expansion.

Expansion

The company is also expanding its retail footprint. There are currently 300 Exclusive Brand Outlets (EBOs) between Colors, Park Avenue, and Raymond RTW, and the plan is to increase the number to 600 by 2025-26.

The newly launched label Ethnix will also be in focus, with plans to grow the number of EBOs from 75 to 300 by 2025-26.

Raymond is also looking to expand its presence in the casual wear segment, which accounts for 40% of the men's apparel market. The company plans to launch new casual wear brands and products under its Colors and Park Avenue labels.

In addition to its retail expansion, Raymond is also investing in digital marketing and e-commerce.

The company has launched its online store and is partnering with e-commerce platforms such as Amazon and Flipkart.

Strategizing

With its focus on restructuring, strategic investments, and expansion, Raymond is well-positioned to grow its lifestyle business in the coming years.

The company is targeting 17-20% EBITDA growth and a 15% revenue increase in FY24.

Key takeaways

Raymond is restructuring its business to focus on its core strengths of real estate, lifestyle, and engineering.

The company plans to double the size of its lifestyle business in the next five years.

Raymond is investing in strategic initiatives to bring its power brands back on track for growth and expansion.

The company is expanding its retail footprint and entering the casual wear segment.

Raymond is investing in digital marketing and e-commerce.

The company is targeting 17-20% EBITDA growth and a 15% revenue increase in FY24.

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Article 11-08-2023

Consumers want comfy clothing

17 August 2023, Mumbai

The Comfort Revolution in Fashion; The fashion industry is constantly evolving, and one of the most significant trends of recent years is the rise of comfort clothing.

Consumers are increasingly prioritizing comfort over style, and this shift is being driven by several factors.

What all you need to know

Factors Driving the Comfort Revolution

Lifestyle Changes; One of the biggest factors driving the comfort revolution is the changing nature of work.

With more people working from home or in flexible arrangements, there is less need for formal clothing.

People are also spending more time at home in general, which has led to a demand for comfortable clothing that can be worn all day long.

Technological Advancements

Technological advancements have also played a role in the comfort revolution.

The development of new fabrics and materials has made it possible to create clothing that is both comfortable and stylish.

For example, performance fabrics that wick away moisture and stretchy fabrics that allow for freedom of movement are now widely available.

Growing Emphasis on Well-Being

Finally, the growing emphasis on well-being is also contributing to the comfort revolution.

People are increasingly aware of the importance of taking care of their physical and mental health, and they are choosing clothing that supports their well-being goals.

Comfortable clothing can help to reduce stress and improve mood, which is why it is becoming increasingly popular.

The Impact of the Comfort Revolution on Fashion

The comfort revolution has had a major impact on the fashion industry. Brands are now designing clothing that prioritizes comfort over style, and there is a growing demand for athleisure and other casualwear options.

This trend is also evident in the luxury fashion market, where brands are incorporating more relaxed silhouettes and soft fabrics into their collections.

Short & long

The comfort revolution is not just a fleeting trend, but a profound transformation in consumer behavior.

As consumers continue to seek garments that empower rather than constrict, the fashion industry must adapt to this new era where comfort reigns supreme.

The comfort revolution is a shift towards clothing that is both comfortable and stylish, driven by changing lifestyles, technological advancements, and a growing emphasis on well-being.

Here is a more detailed explanation of each point:

Changing lifestyles: People are spending more time at home and working from home, which means they are looking for clothing that is comfortable and practical.
Technological advancements: New fabrics and materials have made it possible to create clothing that is both comfortable and stylish. For example, performance fabrics that wick away moisture and stretchy fabrics that allow for freedom of movement are now widely available.
Growing emphasis on well-being: People are increasingly aware of the importance of taking care of their physical and mental health, and they are choosing clothing that supports their well-being goals. Comfortable clothing can help to reduce stress and improve mood, which is why it is becoming increasingly popular.

The comfort revolution is not just a fleeting trend, but a profound transformation in consumer behavior. As consumers continue to seek garments that empower rather than constrict, the fashion industry must adapt to this new era where comfort reigns supreme.

Additional Points; The comfort revolution is being driven by a younger generation of consumers who are more concerned with functionality and self-expression than with traditional notions of fashion.

The rise of social media has also played a role in the comfort revolution, giving consumers a platform to share their styles and preferences.

The comfort revolution is not without its critics, who argue that it is leading to a decline in fashion standards.

However, the trend shows no signs of slowing down, and it is likely to continue to shape the fashion industry for years to come.

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Article 17-08-2023

"Make in India" initiative is paying off

14 August 2023, Mumbai

FDI in manufacturing sector surges by 57% between 2014 and 2022

India's ambitious "Make in India" initiative has achieved a remarkable feat, with Foreign Direct Investment (FDI) in the manufacturing sector experiencing an impressive surge of 57% between 2014 and 2022.

This is a significant achievement for India, as it demonstrates the global confidence placed in the country's economic prowess. The "Make in India" initiative has also led to increased investment in innovation and global collaborations, which will help India to become a global manufacturing powerhouse in the years to come.

What all you need to know

This substantial increase not only underscores India's industrial capabilities but also signifies the global confidence placed in the nation's economic prowess. This revelation was brought to light by MoS Commerce and Industry, Som Parkash, who shared this data as a response in the Lok Sabha.

India is attracting global attention as a manufacturing powerhouse

US chip giant AMD commits $400 million investment

Amazon dedicates $1 billion to empower MSMEs.

On the international stage, India's allure as a manufacturing powerhouse has garnered the attention of global corporations.

Evidently, industry leaders are setting up production bases or expressing keen interest.

Supportive

Notable among these is the US chip giant, Advanced Micro Devices (AMD), which has committed a substantial investment of $400 million over the span of five years, thus driving India's ambitions in the technology sector.

Equally noteworthy is Amazon, the mammoth e-commerce platform, which has dedicated an astounding $1 billion to empower Indian Micro, Small, and Medium Enterprises (MSMEs) and traders through digital means.

The expansive Amazon India marketplace boasts a staggering 550,000 vendors, alongside 60,000 "Make in India" proponents who are actively exporting to global customers.

The "Make in India" initiative is transforming India's manufacturing sector

"Make in India 2.0" spans 27 sectors

Pro-business measures, reductions in corporate tax, and improvements in operational ease are boosting manufacturing dynamism.

"Production-Linked Incentive" (PLI) schemes in 14 key sectors are expected to propel India's manufacturing capabilities and exports

"One District One Product" (ODOP)

This initiative is catalyzing socio-economic growth across regions

Project Development Cells (PDCs) are expediting investments and bolstering India's investment landscape.

The holistic socioeconomic growth across regions is the essence of the "One District One Product" (ODOP) initiative.

This visionary effort spotlights a unique product from each district, spanning textiles, agriculture, food processing, handicrafts, and beyond. With over 1000 products identified across all 761 districts, this directive from the Ministry is set to catalyze prosperity and economic vibrancy.

Transformative journey

The "Make in India" initiative, since its inception in 2014, has triggered a revolutionary transformation in domestic production.

This evolution has propelled India's ascent as a global manufacturing hub, with the "Make in India 2.0" initiative spanning across 27 sectors.

This comprehensive endeavor integrates the efforts of central and state governments, as well as various ministries, to bolster this transformative journey.

Ease of doing

The ongoing reforms, such as pro-business measures, reductions in corporate tax, improvements in operational ease, alterations in FDI policies, and efforts to mitigate compliance burdens, collectively amplify India's manufacturing dynamism.

Catalytic actions

The trajectory of growth is further fueled by catalytic schemes and initiatives, particularly the "Production-Linked Incentive" (PLI) schemes in 14 key sectors.

With a substantial investment outlay of Rs. 1.97 lakh crore, these schemes are expected to propel India's manufacturing capabilities and exports.

The ripple effects are anticipated to manifest as increased production, enhanced skills, heightened employment opportunities, economic growth, and an augmented export sector over the next five years, all stemming from the impetus provided by the PLI programs.

Further propelling India's growth journey is the institutional mechanism of Project Development Cells (PDCs), strategically established in various ministries and departments. This mechanism expedites investments and bolsters India's investment landscape, contributing to the nation's accelerated growth trajectory.

In essence

India's "Make in India" initiative has ignited an industrial revolution

In a true sense, India's "Make in India" initiative has ignited an industrial revolution, driving not only FDI but also innovation and global collaborations.

This paradigm shift solidifies India's stature as a global manufacturing powerhouse, poised to shape the future of production and economic development.

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Article 14-08-2023

Secondhand Clothing Market Booming in Central America

10 August 2023, Mumbai

The secondhand clothing industry in Central America is booming, thanks to a combination of affordable prices and growing environmental concerns.

What all you need to know

Reference to context

The pandemic has changed the age-old, shabby, and worn-out image of secondhand fashion and encouraged young fashionistas to embrace pre-worn or used clothes.

In recent years, there has been a sharp increase in the demand for secondhand clothing in Central America.

This is due in part to the region's high poverty rates, which make it difficult for many people to afford new clothes.

Secondhand clothing is often much cheaper than new clothing, making it a more affordable option for many people.

Affordable Prices, Environmental Concerns Drive Growth

In addition to affordability, environmental concerns are also driving the growth of the secondhand clothing industry in Central America.

Many people are becoming more aware of the environmental impact of the fashion industry, and are looking for ways to reduce their consumption of new clothes.

Secondhand clothing is a great way to do this, as it helps to reduce the amount of waste produced by the fashion industry.

Incidental growth

The growth of the secondhand clothing industry in Central America is creating new opportunities for both businesses and consumers.

Businesses are opening up new thrift stores and online marketplaces to sell secondhand clothing.

Consumers are finding great deals on high-quality clothes, and are helping to reduce their environmental impact at the same time.

Inclusivity

The secondhand clothing market is expected to continue to grow in Central America in the coming years.

This is a positive trend, as it will help to make affordable clothing more accessible to people in the region, and it will also help to reduce the environmental impact of the fashion industry.

Here are some additional details from the essay that could be included in the rewrite:

The secondhand clothing industry in Central America is worth an estimated $274 million.

The industry is expected to create over three million jobs in the region by the early 2040s.

What's what

The growth of the secondhand clothing market is being driven by several factors, including rising disposable incomes, increasing environmental awareness, and the availability of online marketplaces.

The secondhand clothing industry is helping to reduce the environmental impact of the fashion industry by diverting used clothing from landfills and incinerators.

Secondhand clothing is also a more affordable option for people in Central America, who often have limited resources.

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Article 09-08-2023