Fashion
India, Canada strengthen economic partnership
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)
In November 2024, it saw a YoY increase of 0.5 per cent.
The Philippine manufacturing producer price index (PPI) posted a slower YoY rise of 0.1 per cent in November 2025 from a 0.5-per cent YoY rise in October.
It also exhibited a slower month-on-month (MoM) rise of 0.2 per cent in the month from a 0.6-per cent rise in October.
The PPI for readymade garments manufacturing rose by 0.7 per cent YoY and decreased by less than 0.05 per cent MoM in November 2025.
The deceleration in November 2025 was primarily due to the 0.1-per cent YoY decline in the PPI for manufacture of transport equipment from a 1-per cent YoY increase in October 2025.
The manufacture of transport equipment contributed 25.8 per cent to the slower annual growth rate of PPI for manufacturing in the month.
The manufacturing PPI also exhibited a slower month-on-month (MoM) increase of 0.2 per cent in the month from a 0.6-per cent rise in October. It posted a 0.6-per cent MoM increase in November 2024.
The PPI for readymade garments manufacturing rose by 0.7 per cent YoY and decreased by less than 0.05 per cent MoM in November 2025, a release from the Philippines Statistics Authority (PSA) said.
The value of production index (VaPI) for the manufacturing section registered a YoY decrease of 1.4 per cent in November last year from a 1.5-per cent YoY increase in October. In November 2024, it recorded a YoY decline of 4.1 per cent.
Fibre2Fashion News Desk (DS)
The index recorded a sharp increase, mainly due to rate hikes on the Transpacific and Asia–Europe trade routes.
Drewry’s World Container Index jumped 16 per cent to $2,257 per FEU in the week ending January 8, 2026, driven by sharp rate hikes on Transpacific and Asia–Europe routes.
Spot rates rose strongly from Shanghai to Europe and the US amid higher FAK charges.
However, rising capacity and soft Asia–US volumes suggest the surge may be short-lived.
Spot rates on the Shanghai–Genoa route increased 13 per cent to $3,885 per 40-foot container, while those on Shanghai–Rotterdam rose 10 per cent to $2,840 per 40-foot container. This upward momentum was driven by higher Freight All Kinds (FAK) rates implemented by carriers.
Spot rates from Shanghai to Los Angeles surged 26 per cent to $3,132 per 40-foot container, while rates from Shanghai to New York climbed 20 per cent to $3,957 per 40-foot container.
Rates from New York to Rotterdam remained steady at $966 per FEU, while Rotterdam to New York increased 2 per cent to $1,685 per FEU. Freight rates on the Rotterdam–Shanghai route rose 3 per cent to $504, while Los Angeles–Shanghai rates increased 1 per cent to $721 per 40-foot container.
Container shipping capacity rose 7–10 per cent month on month on both Asia–North American routes and 5–7 per cent on Asia–North Europe/Mediterranean routes in January. However, anecdotal evidence points to soft volumes from Asia to the US, suggesting these sharp increases appear opportunistic and are unlikely to be sustained.
Fibre2Fashion News Desk (KUL)
By
Reuters
Published
January 9, 2026
Luxury retailer Saks Global is planning to file for Chapter 11 bankruptcy as soon as Sunday, Bloomberg News reported on Friday, citing people familiar with the matter.
The owner of New York’s century-old Fifth Avenue flagship store is preparing to file for bankruptcy without a restructuring deal in place, though it aims to craft one in the coming weeks, according to the report.
The company is also in advanced discussions on about $1.25 billion debtor-in-possession financing package with creditors, which would allow it to keep its business running during bankruptcy and pay vendor dues, the report added.
Saks Global did not immediately respond to a Reuters request for comment.
© Thomson Reuters 2026 All rights reserved.
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