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Ashwin Chandran takes charge as new CITI chairman

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Ashwin Chandran takes charge as new CITI chairman



Ashwin Chandran has taken over as the new chairman of the Confederation of Indian Textile Industry (CITI) starting September 18, 2025. Chandran takes over the chairmanship from Rakesh Mehra whose term ended on September 18 following the conclusion of CITI’s 67th AGM which was held during the day.

Dinesh Nolkha would become the new deputy chairman of CITI and Shreyaskar Chaudhary will take over as the new vice chairman of CITI.

A distinguished textile industry leader, Chandran is chairman & managing director of Precot Limited, one of the leading cotton mills in India which operates units in Tamil Nadu, Kerala, Andhra Pradesh and Karnataka. A former chairman of the Southern India Mills Association (SIMA), he is also a member of the Cotton Textiles Export Promotion Council (TEXPROCIL). Chandran holds a BSc (Hons) degree in Textile Technology of UMIST, UK, and, also, a Post Graduate degree in Management from the University of Illinois, US.

An eminent presence in the textile sector, Nolkha is chairman & managing director of the Bhilwara-based Nitin Spinners Ltd, one of the leading manufacturers of cotton yarn, blended yarn, knitted fabrics and finished woven fabrics. Nolkha is a former president of the Mewar Chamber of Commerce and Industry and has also been chairman of the Northern India Textile Research Association (NITRA). Nolkha is a Fellow Member of the Institute of Chartered Accountants of India and The Institute of Cost & Management Accountants of India.

A noted personality in the sphere of sustainability, Chaudhary is managing director of the Madhya Pradesh-based Pratibha Syntex Limited which is committed to transforming the textile industry through innovation, ethical practices, and a strong focus on environmental stewardship. Pratibha Syntex is India’s first Apparel Manufacturing Fair Trade Certified factory. The company is also India’s first ZDHC Certified Apparel Manufacturer. Chaudhary has a background in Textile Technology from UMIST, UK.

Underlining the priorities of his CITI Chairmanship, Ashwin Chandran said there was an immediate priority and a longer-term one.

The new CITI chairman said the pressing priority was to work closely with all stakeholders, including the government, to address the grave challenge which has been posed to the Indian textile and apparel sector through the United States (the single-largest market for India’s textile and apparel exports) imposing a 50 per cent tariff on Indian products with effect from August 27, 2025.

The longer-term focus would be on futureproofing India’s textile and apparel sector – the bulk of which is made up of MSMEs – to improve the global competitiveness of local textile and apparel companies. Greater emphasis would be laid on innovation, sustainability, capacity building (including through skill development), and knowledge sharing so that Indian textile and apparel enterprises can grow the size of their businesses both within India and overseas, and get to a position where they can derive the fullest benefits from the free trade agreements (FTAs) already signed by India and those on the anvil.

“CITI remains fully committed to be an important contributor to the Viksit Bharat mission,” Chandran said in a release.

India aims to create a $250 billion domestic textile industry by 2030. The country is also aspiring to more than double textile and apparel exports to $100 billion by 2030.

Ashwin Chandran, CMD of Precot Ltd, has taken over as chairman of CITI from Rakesh Mehra at its 67th AGM.
Dinesh Nolkha (Nitin Spinners) becomes deputy chairman and Shreyaskar Chaudhary (Pratibha Syntex) vice chairman.
Chandran’s priorities include tackling the US 50 per cent tariff on Indian textiles and driving long-term competitiveness through innovation and sustainability.

Fibre2Fashion News Desk (HU)



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FDI into Bangladesh up 19.13% within 1 year after Jul 2024 uprising

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FDI into Bangladesh up 19.13% within 1 year after Jul 2024 uprising















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Global FDI dips 3% in H1 2025 amid weak investor sentiment: UNCTAD

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Global FDI dips 3% in H1 2025 amid weak investor sentiment: UNCTAD



Global foreign direct investment (FDI) fell 3 per cent in the first half (H1) of 2025, extending a two-year slump as trade tensions, high interest rates, and geopolitical uncertainty kept investors cautious, according to UN Trade and Development (UNCTAD).

The drop was driven by developed economies, where cross-border mergers and acquisitions (M&As)—which normally make up a large share of their FDI—fell 18 per cent to $173 billion, UNCTAD said in its latest Global Investment Trends Monitor.

Global FDI declined 3 per cent in H1 2025, marking a continued two-year slump as trade tensions, high borrowing costs, and geopolitical uncertainty curbed investor confidence, according to UNCTAD.
Developed economies saw an 18 per cent fall in M&As.
Greenfield and renewable projects dropped sharply, though AI-driven investments and sovereign wealth fund activity may aid recovery later in 2025.

Developing economies fared better overall, with flows remaining flat, though trends diverged by region. Inflows rose 12 per cent in Latin America and the Caribbean, 7 per cent in developing countries in Asia but fell 42 per cent in Africa.

High borrowing costs and economic uncertainty continued to squeeze investment in industry and infrastructure in H1 2025. Announcements of greenfield projects—when firms build new operations abroad—fell 17 per cent in number, driven by a 29 per cent decline in supply-chain-intensive manufacturing such as textiles, electronics, and automotives amid tariff uncertainty.

The international project finance—critical for infrastructure development—also declined, with deal numbers down 11 per cent and value 8 per cent. The trend was more positive in developing economies, where project finance deals fell only 2 per cent after two years of sharp declines. Despite fewer deals, the total value jumped 21 per cent, lifted by a few large-scale projects in Panama, the United Arab Emirates, and Uzbekistan. A broad recovery has yet to emerge.

Despite fewer projects, the value of global greenfield investment rose 7 per cent, lifted by major projects in artificial intelligence (AI) and the digital economy. For example, the United States recorded $237 billion in new greenfield projects in H1 2025—nearly matching the 2024 total and four times the past decade’s half-year average. More than half of the value came from AI-related sectors, particularly semiconductors (~$103 billion) and data centres (~$27 billion).

Investment in sectors critical to the Sustainable Development Goals (SDGs) continued to fall in early 2025. SDG-related investment projects in developing countries were down 10 per cent in number and 7 per cent in value, following steep declines last year. Projects in least developed countries (LDCs) are on track to fall another 5 per cent in 2025, possibly hitting their lowest level since 2015.

Internationally financed projects—including those in transport and utilities—remained about 25 per cent below the decade average. In LDCs, project finance in infrastructure fell another 85 per cent in value. Greenfield infrastructure activity declined 31 per cent in value and 25 per cent in number, led by sharp contractions in Latin America and the Caribbean (–78 per cent in value and –43 per cent in number).

Renewable energy investment, the largest SDG-relevant sector, also weakened. Globally, international project finance in the sector—which has accounted for nearly two-thirds of global totals in recent years—fell another 9 per cent in number and 10 per cent in value.

Global greenfield projects in renewable energy also declined 55 per cent in number and 21 per cent in value. In developing economies, projects fell 23 per cent. In LDCs, they declined by 31 per cent in number and 18 per cent in value.

Investment in water and sanitation fell 40 per cent, with no new projects in Africa or LDCs and a 97 per cent decrease in Latin America and the Caribbean. Only agrifood systems and health showed positive trends in developing economies, with investment holding steady in agrifood and rising 37 per cent in health, driven primarily by new projects in Asia.

The global investment climate will remain challenging through the rest of 2025. Geopolitical tensions, regional conflicts, economic fragmentation, and efforts to de-risk supply chains continue to weigh on flows. Still, easing financial conditions, rising M&A activity in the third quarter, and higher overseas spending by sovereign wealth funds could support a modest rebound by year-end.

Fibre2Fashion News Desk (SG)



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Make rate structure more market-oriented, IMF tells Bangladesh Bank

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Make rate structure more market-oriented, IMF tells Bangladesh Bank



Bangladesh’s economy is still facing significant pressure, according to the International Monetary Fund (IMF), which recently advised the country’s central bank to make the interest rate structure more market-oriented.

During a meeting with Bangladesh Bank officials last week, the IMF stressed the need to maintain a contractionary monetary policy to bring inflation down to 5 per cent.

Bangladesh’s economy is still facing significant pressure, the IMF said, advising the country’s central bank to make the interest rate structure more market-oriented.
It stressed the need to maintain a contractionary monetary policy to bring inflation down to 5 per cent.
It is concerned over the use of foreign reserves in forming the Export Development Fund and the growing volume of non-performing loans.

It also expressed concern over the use of foreign reserves in forming the Export Development Fund (EDF) and the growing volume of non-performing loans (NPLs).

Despite a requirement under the loan conditions to reduce bad loans in state-owned banks below 10 per cent, the figure has reportedly exceeded 40 per cent. Private banks also saw their NPL ratio surpass 10 per cent, double the stipulated 5 per cent limit.

Under the IMF’s $4.7 billion loan programme, Bangladesh has yet to fully achieve its inflation-control target.

The central bank informed the visiting IMF delegation that overall inflation had dropped to 8.36 per cent in September.

The IMF sought clarification on how the central bank plans to maintain investment momentum if the contractionary policy continues for an extended period, according to domestic media reports.

The delegation strongly objected to the bank’s practice of providing unsecured liquidity support to weak banks under its ‘lender of last resort’ policy.

It was satisfied with the current level of Bangladesh’s foreign exchange reserves.

The IMF mission will stay in Dhaka until November 13.

Fibre2Fashion News Desk (DS)



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