Fashion
Fitch keeps India at ‘BBB-‘, projects 6.5% growth in FY26

Fitch said a strengthening record of delivering growth with macro stability and improving fiscal credibility should steadily lift structural metrics, including GDP per capita, while increasing the likelihood of a modest downward trend in debt over the medium term.
Fitch Ratings has affirmed India’s Long-Term Foreign-Currency IDR rating at BBB- with stable outlook, citing strong growth and external finances but high deficits and debt as weaknesses.
GDP is forecast to grow 6.5 per cent in FY26, inflation is contained, and reserves stand at $695 billion.
Risks include US tariff uncertainty, while sustained fiscal consolidation could aid an upgrade.
It projects GDP growth at 6.5 per cent in FY26, unchanged from FY25 and well above the BBB median of 2.5 per cent, supported by strong public capex and resilient consumption. Nominal GDP growth, however, is forecast to slow to 9 per cent in FY26, from 12 per cent in FY24, Fitch said in a press release.
A proposed 50 per cent US tariff on India poses a downside risk, though Fitch expects this to be negotiated lower. While exports to the US represent just 2 per cent of GDP, prolonged tariff uncertainty could dampen sentiment and reduce India’s competitiveness in supply chain shifts away from China.
Inflation remains contained, with headline inflation falling to 1.6 per cent in July 2025 on easing food prices and core inflation steady at around 4 per cent. Following a 100 basis points cut in the repo rate to 5.5 per cent, it sees scope for one more 25bp cut in 2025. Credit growth, which slowed to 9 per cent in May from 19.8 per cent a year earlier, is expected to recover under the easing cycle.
On the fiscal side, the central government deficit narrowed to 4.8 per cent of GDP in FY25 and is forecast at 4.4 per cent in FY26, in line with the medium-term target. The broader general government deficit is projected to fall from 7.8 per cent in FY25 to 7.3 per cent in FY26 and 7 per cent by FY28, while state deficits are expected to stabilise at 2.9 per cent from FY26.
India’s debt burden remains high at 80.9 per cent of GDP in FY25, set to edge up to 81.5 per cent in FY26 before gradually declining to 78.5 per cent by FY30, though Fitch cautions this path relies on nominal growth staying above 10 per cent. The interest-to-revenue ratio, at 23.5 per cent versus the BBB median of 9 per cent, continues to constrain fiscal flexibility.
India’s external position remains a key strength, with foreign exchange reserves rising to $695 billion by mid-August 2025, equivalent to eight months of external payments. The current account deficit is projected at 0.7 per cent of GDP in FY26, rising gradually to 1.5 per cent by FY28, added the release.
Governance continues to weigh on ratings, with India ranking below the median on World Bank indicators, but Fitch’s ESG relevance scores of ‘5’ for political stability and rights and ‘5[+]’ for rule of law and institutional quality reflect both resilience and challenges.
Fitch noted that an upgrade could follow stronger fiscal consolidation and a sustained revival in private investment-led growth, while weaker growth or rising debt burdens could trigger a downgrade.
Fibre2Fashion News Desk (SG)
Fashion
Bangladesh’s RMG exports up 4.7% in Q1 FY26, but Sept shipments dip

Woven garment exports slightly outpaced knitted garment exports in terms of growth. Knitwear exports (Chapter **) rose by *.** per cent to $*.*** billion, compared to $*.*** billion in the same period of fiscal ****–**. Woven apparel exports (Chapter **) increased by *.** per cent to $*.*** billion, up from $*.*** billion in July–September ****, EPB data showed.
Home textile exports (Chapter **, excluding ******) also grew, rising by *.** per cent to $***.** million, compared to $***.** million in the same period of the previous fiscal. Collectively, exports of woven and knitted apparel, clothing accessories, and home textiles accounted for **.** per cent of Bangladesh’s total exports, which stood at $**.*** billion during the period. Higher demand for diversified and value-added textile products supported this growth.
Fashion
Dutch manufacturing flat in August, up 1.7% from July: CBS

Slightly more than half of the various industrial sectors produced less than they did one year previously. Of the eight largest industrial sectors, output rose the most sharply in the repair and installation of machinery, while it fell the most sharply in the transport equipment industry.
A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After adjustment, manufacturing output rose by 1.7 per cent in August relative to July, CBS said in a press release.
In August 2025, Dutch manufacturing output remained unchanged year-on-year, although output declined in over half of the industrial sectors.
After seasonal adjustment, output rose by 1.7 per cent compared to July.
The strongest growth was seen in the repair and installation of machinery, while transport equipment recorded the sharpest decline.
After adjusting for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.
Producer confidence was less negative in September than it was in August. Manufacturers were more positive regarding output for the next three months, in particular.
Germany is an important market for the Dutch manufacturing sector. In September, German manufacturers were more negative than they were in August, as reported by Eurostat. In August, the calendar-adjusted output of the German manufacturing sector was down by 5.1 per cent, year on year. Relative to July, output fell by 5.5 per cent, as reported by Destatis.
Fibre2Fashion News Desk (RR)
Fashion
ADB commits $82.5 mn to drive Cambodia’s energy transition

The first subprogramme, approved in 2022, introduced pivotal policy measures that guided the energy sector toward a more efficient and renewable development pathway. Building on this foundation, subprogramme 2 advances regulatory reforms to strengthen the energy efficiency framework and enhance policy clarity to attract private sector investment. A key milestone under the subprogramme is the introduction of the country’s first set of regulations establishing Minimum Energy Performance Standards for electrical appliances, starting with air conditioners, which account for the largest share of energy consumption in the residential sector, ADB said on its website.
Subprogramme 2 will also establish an Energy Efficiency Revolving Fund aimed at facilitating access to finance for local small and medium-sized enterprises (SMEs) to invest in energy-efficient technologies. The revolving fund will be set up through a financial intermediation structure to enable local banks to extend loans to SMEs for energy efficiency investments. By mobilizing domestic financial institutions and supporting SMEs, the revolving fund is expected to accelerate the nationwide scale-up of energy efficiency investments.
Asian Development Bank (ADB) has approved $82.5 million for Phase 2 of Cambodia’s Energy Transition Sector Development Programme to support clean energy through policy reforms and investments.
The programme introduces energy efficiency standards, establishes a revolving fund for SME financing, and also aims to attract private investment.
“ADB is honoured to support Cambodia in its ambitious and transformative journey in the energy sector. Through a comprehensive reform package, combining policy support with strategic investments, the Energy Transition Sector Development Programme will support turning the government’s ambitious vision into reality,” said ADB acting country director for Cambodia Anthony Gill. “This includes the goal of achieving 70 per cent renewable energy in the power mix by 2030, along with a strong commitment to advancing energy efficiency, which is essential to ensure that Cambodia’s growth remains both sustainable and affordable.”
Subprogramme 2 will be followed by a third phase in 2027, which will further deepen reforms by expanding the energy efficiency regulatory framework and introducing technical standards for renewable energy, buildings, and industry to further attract private sector investment.
Fibre2Fashion News Desk (RR)
-
Tech6 days ago
I’ve Tested Countless Mesh Systems. Here Are the Routers I Recommend
-
Tech1 week ago
Amazon Prime Big Deal Days Is Next Week, but We Already Found 40 Early Deals
-
Tech1 week ago
AI in an ‘industrial bubble’ but will benefit society: Bezos
-
Business7 days ago
Investors are packing up; Pakistan must ask why | The Express Tribune
-
Tech1 week ago
Amazon is overhauling its devices to take on Apple in the AI era
-
Tech1 week ago
All Hail the Surprisingly Versatile Packing Cube! These Are Our Favorites
-
Tech6 days ago
Jony Ive Says He Wants His OpenAI Devices to ‘Make Us Happy’
-
Tech1 week ago
Combat Dry Indoor Winter Air With a New Humidifier