India and Canada reaffirmed the strength and continuity of their economic partnership during the 7^th ministerial dialogue on trade and investment. India’s Commerce and Industry Minister Piyush Goyal and Canada’s Minister of Export Promotion, International Trade and Economic Development Maninder Sidhu committed to deepening bilateral cooperation through sustained dialogue, mutual respect, and forward-looking initiatives.

The ministers reaffirmed the strength and continuity of the India–Canada economic partnership and reiterated their commitment to deepening bilateral cooperation through sustained dialogue, mutual respect, and forward-looking initiatives.

India and Canada reaffirmed their strong and resilient economic partnership during the 7th ministerial dialogue on trade and investment, highlighting robust 2024 bilateral trade of $23.66 billion and growing two-way investments.
The ministers committed to deeper cooperation in critical minerals, clean energy, aerospace, and supply chain resilience.

The ministers noted robust growth in bilateral trade in goods and services which reached $23.66 billion in 2024, with merchandise trade valued at nearly $8.98 billion, a substantial 10 per cent increase over the previous year. The ministers reaffirmed the strength and resilience of the India–Canada economic partnership and emphasised the importance of continued engagement with the private sector to unlock new opportunities for trade and investment. They welcomed the steady expansion of two-way investment flows, including notable Canadian institutional investment in India and the growing presence of Indian firms in Canada, which together support tens of thousands of jobs in both economies. The ministers committed to maintaining an open, transparent, and predictable investment environment and to exploring avenues for deeper collaboration across priority and emerging sectors.

The ministers also noted strong complementarities between India and Canada across strategic sectors driving sustainable growth and innovation and offering new opportunities for trade. Recognising that these areas would require separate domain-level engagement between relevant stakeholders on both sides, the ministers agreed to encourage long-term supply chain partnerships in critical minerals and clean energy collaboration essential for energy transition, and new-age industrial expansion. They have also agreed to identify and expand investment and trading opportunities in aerospace and dual-use capabilities partnerships, leveraging Canada’s established presence in India and the growth of India’s aviation sector, the Ministry of Commerce and Industry said in a press release.

Recognising the importance of supply chain resilience the ministers exchanged views on global developments and reflected on lessons from recent disruptions. They underscored the relevance of strengthening resilience in critical sectors, including agriculture, and highlighted the need for diversified and reliable supply chains as essential for supporting long-term economic stability.

The ministers expressed satisfaction with the progress made in strengthening bilateral economic engagement and reaffirmed their shared commitment to elevate the economic partnership to reflect global developments and evolving supply chain and trade dynamics. They emphasised the importance of maintaining momentum in the bilateral dialogue and supporting people-to-people ties, which provide a strong foundation for the partnership. 

The ministers agreed to sustained ministerial engagements with the trade and investment community in both Canada and India early next year. They agreed to remain in close communication as they consider next steps and concluded by acknowledging the constructive and forward-looking discussions held in New Delhi.

Fibre2Fashion News Desk (RR)

American sportswear company Under Armour has widened the scope of its fiscal 2025 (FY25) restructuring plan and increased its fiscal 2026 (FY26) adjusted operating income forecast to between $95 million and $110 million, reflecting gains expected from its expanded transformation strategy.

The company previously projected up to $160 million in pre-tax restructuring and related charges. After a further internal review, Under Armour’s board has approved an additional $95 million in actions, taking the total estimated charges to as much as $255 million. The new measures include the separation of the Curry Brand, further contract terminations, incremental asset impairments, and additional employee severance and benefits costs. Most of the financial benefits of these steps are expected to be realised in future periods.

Under Armour has expanded its FY25 restructuring plan, raising total expected charges to up to $255 million and increasing its FY26 adjusted operating income outlook to $95–110 million.
The measures include separating the Curry Brand and asset impairments.
The company had already incurred $147 million by September 2025 and now expects a FY26 GAAP operating loss of $56–71 million.

Under Armour estimated that its total global basketball business, including the Curry Brand, will generate between $100 million and $120 million in revenue in fiscal 2026. The company does not expect the separation of the Curry Brand to materially affect its consolidated financial performance or profitability, Under Armour said in a press release.

The expanded plan comprises up to $107 million in cash-related charges—about $34 million tied to employee severance and benefits, and $73 million linked to various transformational initiatives. Non-cash charges may reach up to $148 million, including $7 million in employee-related costs and $141 million attributed to contract terminations, facilities, software, and other asset impairments.

As of September 30, 2025, Under Armour had incurred approximately $147 million in restructuring-related charges, including $82 million in cash costs and $65 million in non-cash charges. The restructuring programme is expected to be substantially completed by the end of fiscal 2026.

Alongside the restructuring expansion, the company has revised its fiscal 2026 guidance. It now anticipates a GAAP operating loss of between $56 million and $71 million, compared with the earlier expectation of operating income between $19 million and $34 million. Adjusted operating income is now forecast at $95 million to $110 million, up from the previous range of $90 million to $105 million. All other outlook components remain unchanged.

According to the company’s reconciliation, the adjusted outlook reflects the addition of $166 million in restructuring-related charges under the fiscal 2025 plan, aligning with its updated operational strategy for the year ending March 31, 2026, added the release.

Fibre2Fashion News Desk (SG)