Fashion
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)
According to updated Eurosystem staff projections, headline inflation is expected to average 2.1 per cent in 2025, easing to 1.9 per cent in 2026 and 1.8 per cent in 2027, before returning to 2.0 per cent in 2028. Inflation excluding energy and food is forecast at 2.4 per cent in 2025, gradually declining to 2.0 per cent by 2028. Inflation for 2026 has been revised upward, mainly due to expectations that services inflation will fall more slowly than previously anticipated, the Governing Council of the ECB said in a press release.
European Central Bank has kept its key interest rates unchanged, maintaining confidence that inflation will stabilise at the 2 per cent target.
Updated projections show inflation easing gradually over the coming years, with a slight upward revision for 2026 due to persistent services prices.
Economic growth forecasts have been revised higher, supported by stronger domestic demand.
The ECB also revised its economic growth outlook higher compared with its September projections. Growth is now expected to reach 1.4 per cent in 2025, 1.2 per cent in 2026 and 1.4 per cent in 2027, with expansion projected to remain at 1.4 per cent in 2028. The improvement is driven largely by stronger domestic demand across the euro area.
The Council reiterated its commitment to ensuring that inflation stabilises sustainably at the 2 per cent target. It emphasised that future monetary policy decisions will remain data-dependent and assessed on a meeting-by-meeting basis, without pre-committing to any specific interest rate path.
Fibre2Fashion News Desk (KD)
Vera Bradley reported Q3 net revenues of $62.3 million, down from $70.5 million year over year.
Direct revenues fell 5.3 per cent, with comparable sales down 5.8 per cent, while indirect revenues dropped 30.2 per cent.
Gross margin declined to 42.1 per cent, impacted by inventory write-downs and higher duties, despite early progress from its Project Sunshine transformation.
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