Fashion
QCO removal lifts apparel sector; polyester yarn growth to stay flat
India’s withdrawal of the Quality Control Order (QCO) on several polymer and fibre intermediates is set to lift cost pressures for downstream textile producers, particularly readymade garment exporters, as per Crisil Ratings.
India’s removal of QCO norms on polymer and fibre intermediates will lower input costs for textile exporters.
Polyester yarn manufacturers are expected to post flatter 3–5 per cent revenue growth as cheaper imports drag down realisations.
Interest cover is set to weaken to 2.7–2.9 times as crude volatility and tariff gaps continue to pressure the upstream segment.
The move will make raw material imports cheaper and support volumes, but polyester yarn manufacturers could see flat revenue growth of 3–5 per cent next fiscal due to lower realisations, heightened import competition and softened crude prices.
The Ministry of Chemicals and Fertilisers scrapped the QCO on November 12, 2025, reversing a mandate introduced in October 2023 that required BIS certification to curb the influx of cheaper Chinese polyester yarn. The change is expected to ease sourcing for apparel makers, who derive 25–30 per cent of their revenue from exports, a third of which go to the US.
The home textile sector, which earns two-thirds of its revenue from exports—55–60 per cent to the US—is likely to gain less due to its stronger tilt toward cotton-based products, Crisil Ratings said in a release.
Industry analysis of 20 polyester yarn producers, representing 40–45 per cent of sector revenue, indicates weakening margins and a decline in interest cover to 2.7–2.9 times next fiscal from 3.5–3.7 times this year.
Persistent tariff disparities with competing nations, fallout from US trade actions and volatility in crude-linked input prices remain key risks across the textile chain.
Fibre2Fashion News Desk (HU)
Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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