Fashion
New EU strategy proposed to shape global clean, resilient transition
The new EU global climate and energy vision adds an external dimension to the Clean Industrial Deal and sets a new strategy to strengthen existing partnerships and forging new, mutually beneficial ones, an official release said.
A new strategy for securing Europe’s place in global markets was recently proposed by using diplomacy to protect core EU interests, promoting standards for a fair transition and addressing new security threats and challenges.
The vision proposes to ramp up the EU’s clean technology manufacturing capacity to reach 15 per cent of the global technology market, while improving its industrial competitiveness.
Launched in February 2025, the EU’s Clean Industrial Deal is a strategy to boost European industrial competitiveness and decarbonisation by lowering energy costs, accelerating clean technology, supporting circularity and developing skills.
As a market still dependent on fossil energy imports, renewables will remain at the heart of the EU’s clean transition. Almost half of EU electricity was generated by renewables in 2024. This significantly increases the EU’s energy independence and security. The EU has also seen an increase of 111% in the share of clean energy investments since 2015.
The vision proposes to ramp up the EU’s clean technology manufacturing capacity to reach 15 per cent of the global technology market, while improving its industrial competitiveness, in line with the Clean Industrial Deal.
The vision also reaffirms the EU’s commitment to a rules-based international order.
The EU will continue driving robust international climate policies. This includes stronger action to address the nexus between climate change, environmental degradation, and security and resilience by engaging at multilateral (UN and NATO) and bilateral levels.
It will implement the actions set out in the 2023 Joint Communication on the Climate-Security Nexus and continue combatting information manipulation and disinformation on climate change, the release noted.
The new vision presents a series of strategic actions for global energy and climate engagement to drive the clean transition, competitiveness and clean technologies and investments.
These include injecting political momentum by encouraging multilateral and bilateral fora and initiatives to deliver on the Paris Agreement and Global Stocktake commitments; boosting EU clean tech businesses internationally and enabling climate resilient investments by organising business fora, setting up an EU external Clean Transition Business Council, scaling up investments and establishing business models for climate adaptation; and supporting and connecting European businesses with global investments by making full use of the Global Gateway Investment Hub to assist joint investments projects outside the EU.
These also include expanding networks of mutually beneficial partnerships for global and resilient clean value chains and reforming global financial institutions for the clean and resilient transition and stepping up EU’s climate security work.
Fibre2Fashion News Desk (DS)
The Confederation of Indian Textile Industry (CITI) is very thankful to the Reserve Bank of India (RBI) for announcing a cut in the repo rate by 25 basis points to 5.25 per cent and remains hopeful that this would translate into lower cost of borrowing and ease of capital availability for micro, small and medium enterprises (MSMEs) in the textile and apparel sector in future.
CITI thanked the RBI for cutting the repo rate to 5.25 per cent, saying it should ease borrowing and improve capital access for MSME-dominated textile and apparel firms.
Chairman Ashwin Chandran welcomed RBI’s 7.3 per cent GDP growth and softer inflation outlook.
He noted the sector remains hit by the US’ 50 per cent tariff, with exports there at about $11 billion.
“The latest cut in the repo rate is an extremely positive measure taken by the RBI to fast-track overall growth and development,” CITI chairman Ashwin Chandran said.
“Our expectation now would be that this would get reflected in lower cost of borrowing and banks easing access to capital for MSMEs in the textile and apparel sector, many of whom often face a challenge on this front,” Chandran added. Banks are often reluctant/slow to pass on rate cuts to customers.
Most companies in India’s textile and apparel sector, one of the largest job-generators in the country, are MSMEs.
Chandran said it was heartening to note that the RBI has projected real GDP growth for the financial year 2025-26 at 7.3 per cent. “The resilience shown thus far by the Indian economy to global headwinds is commendable and stands testimony to the inherent strength of our domestic economy,” he added.
The CITI chairman said the RBI forecast of an overall softening in inflation was also good news. The RBI has revised downward its projections for average headline inflation in 2025-26 and Q1 of 2026-27. The RBI has now said that both headline and core inflation are expected to be around the 4 per cent target during the first half of 2026-27.
India’s textile and apparel sector is among those hit hardest by the 50 per cent tariff imposed by the United States on Indian goods, effective August 27.
The US is the single-largest market for India’s textile and apparel items, with around 28 per cent of these Indian goods being sold in the world’s No. 1 economy. India’s textile and apparel exports to the US in the financial year 2024-25 stood at nearly $11 billion.
Fibre2Fashion News Desk (HU)
During the first ten months of ****, textile exports eased by *.* per cent to $***.* million. This decline is linked to subdued demand for raw and intermediate textile products from local garment manufacturers and reduced re-export volumes. Over the same period, exports of other manufactured textile articles increased by *.* per cent to $**.* million, as per the Central Bank’s publication External Sector Performance – October ****.
Combined exports of textiles, garments, and other manufactured textile articles accounted for **.** per cent of all industrial exports from Sri Lanka during the ten-month period. Total textile product exports amounted to $*,***.* million between January and October ****, while the country’s overall industrial exports were valued at $*,***.* million for the same period. This underscores the continued dominance of the apparel sector in Sri Lanka’s industrial export base.
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