Fashion
India to be fastest-growing major economy with 6.5% GDP in FY26: S&P
Crisil highlighted that favourable monsoons, easing crude oil prices averaging $65–$70 per barrel, and reduced interest rates will support growth. Inflation is expected to ease towards the Reserve Bank of India’s (RBI) 4 per cent target, enabling monetary policy flexibility. Income tax cuts and potential goods and services tax rationalisation are expected to bolster consumption, particularly in rural areas, Dharmakirti Joshi said in an article on S&P Global.
India is expected to remain the world’s fastest-growing major economy, with GDP projected to rise 6.5 per cent in FY26, matching FY25, according to S&P.
Growth will be supported by favourable monsoons, easing oil prices, and lower interest rates.
Risks include US tariffs, and weaker export demand.
Strong services exports, capex push, and policy support will cushion India’s economic outlook.
India’s macroeconomic growth trajectory shows a return to its pre-pandemic trend, averaging 6.6 per cent annually in the decade to 2020. While stimulus and a low base lifted growth to 8.8 per cent between FY22–FY24, higher inflation and fiscal normalisation moderated expansion thereafter. For FY26, the HSBC Purchasing Managers’ Index signals sustained momentum across both manufacturing and services.
Yet, challenges loom. US tariffs are likely to erode competitiveness of Indian exports, with nearly 20 per cent directed to the US, where economic growth is slowing to 1.7 per cent in 2025. The eurozone, accounting for 17.3 per cent of exports, also faces weak demand. Rising risks of low-cost imports from China further threaten domestic industries, the article added.
Despite these headwinds, buffers remain. Services exports—constituting 47 per cent of India’s total exports—are expected to provide resilience as they are less exposed to global trade shocks than goods. The current account deficit is projected to stay manageable at around 1 per cent of GDP, backed by robust foreign exchange reserves of $702.8 billion.
The government capex remains a priority, with central and state expenditure rising strongly in early FY26 despite deficit-reduction goals. Monetary easing and fiscal support are expected to provide cyclical momentum, though fiscal space remains constrained.
Looking ahead, policymakers face the dual task of sustaining growth drivers at home while navigating an uncertain global trade environment. Success in balancing domestic reforms, infrastructure investment, and foreign trade agreements will be key to India’s long-term ambition of achieving developed nation status by 2047, concluded the article.
Fibre2Fashion News Desk (SG)
Combined with CITME, the four-day ITMA ASIA + CITME exhibition at the Singapore Expo concluded on 31 October 2025 with participants praising the international mix of visitors andstrong turn-out of buyers from the region. From the supply side, the exhibition was well represented by companies from key textile technology manufacturing regions, thus offering buyers a balanced selection of solutions.
ITMA ASIA + CITME 2025 in Singapore drew 26,600 visitors from 109 nations, with 92 per cent coming from overseas.
Over 840 exhibitors from 30 regions showcased innovations across 70,000 square metres.
Strong participation came from India, China, and Indonesia, reflecting Asia’s industry strength.
Next edition confirmed for Shanghai, November 20–24, 2026.
The Singapore exhibition attracted visitorship of over 26,600 from 109 countries and regions, reaffirming its reputation as the region’s most influential showcase of textile and garment manufacturing technologies.
Some 92% of the visitors came from overseas, with 35% of them from South Asia and 30% from Southeast Asia. The top three visitor countries were: India (19%), China (11%) and Indonesia (10%). Other countries in the top 10 list included Bangladesh, Pakistan, Vietnam and Malaysia.
The show owners – CEMATEX (the European Committee of Textile Machinery Manufacturers), China Textile Machinery Association (CTMA), The Sub-Council of Textile Industry, CCPIT (CCPIT TEX) – attributed its strong showing to Singapore’s ideal location, conducive business environment and seamless visitor experience.
Mr Alex Zucchi, President of CEMATEX, said: “Exhibitor feedback has been very positive as the high-quality visitorship and serious business discussions are greatly appreciated. The exhibition has created a strong sense of optimism about the opportunities ahead amid current economic challenges.”
Mr Gu Ping, President of CTMA remarked: “Asia, the world’s largest textile hub, boasts a vast industrial scale and plays a key role globally. With the successful conclusion of the ITMA ASIA + CITME, Singapore 2025, it is clear that the Asian textile industry, encompassing regions such as East Asia, Southeast Asia and the Middle East, is experiencing rapid development. This also reflects the global textile industry’s demand for exploring emerging markets.”
Many of the exhibitors were elated by the outcome of their participation. Mr Tobias Schaefer, Vice President of Andritz Nonwoven & Textile, enthused: “The combined exhibition in Singapore proved to be a truly pivotal platform, bringing together a remarkably international audience. The high visitor numbers, the quality of discussions, and the strong focus on innovation and sustainability reflected the industry’s evolving priorities.”
Mr Stephane Picard, Sales & Marketing Manager at Pierret Industries, opined: “We are very pleased with the overall quality of the visitors at the exhibition. Despite the current market challenges, the event exceeded our expectations. The main objective of holding this show in Singapore was to attract people from Southeast Asia and Middle East markets, and the results were truly impressive.”
Sharing the same sentiment, Canlar Mekatronik Board Member Mr Kaan Cakici said: “We’re delighted with the overwhelming response received at the exhibition. The show days were filled with serious enquiries from buyers who came ready to invest and we concluded business deals during the show. The quality of discussions with visitors at our stand has given us confidence to expand our presence and support in the region.”
Underscoring the significance of the 2025 exhibition for the Indian market was Mr Rohit Kansal, Additional Secretary, Ministry of Textiles of India who led a 30-member-strong government delegation.
Mr Kansal remarked, “India is one of the largest participants and exhibitors in this exhibition here in Singapore. This reflects our strategic vision in driving our textile industry’s growth through innovation, manufacturing excellence and sustainability. The fair provides a good meeting ground for people to exchange ideas, to look at new technologies, discuss business propositions and to see the latest innovations.”
Later, speaking at the co-located ITMA Sustainability Forum, Mr Kansal highlighted the Indian textile industry’s green transformation.
The comprehensive showcase of textile and garment making technologies at ITMA ASIA + CITME, Singapore 2025 occupied more than 70,000 square metres of gross space and featured over 840 exhibitors from 30 countries and regions.
ITMA ASIA + CITME, Singapore 2025 is organised by ITMA Services and co-organised by Beijing Textile Machinery International Exhibition Company.
The next ITMA ASIA + CITME exhibition will be held in Shanghai, China from 20 to 24 November 2026.
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 (MS)
ICE December cotton futures settled at 64.54 cents per pound, down 0.69 cents.
ICE cotton futures declined amid weakness in US stocks and grains, with traders awaiting the USDA’s supply and demand report due on November 14, 2025.
Technology and AI-related stock losses and uncertainty around President Trump’s tariff policies further dampened sentiment.
Brazil’s October cotton exports rose 5 per cent year-on-year, while ICE deliverable inventories remained steady at 13,749 bales.
Market analysts noted that the fall in the stock market was the primary driver behind the decline. Weakness in grain prices added further pressure on cotton values. US stocks closed lower on Thursday, extending losses from earlier in the week. Technology and AI-related stocks led the declines due to concerns about overvaluation and economic uncertainty.
The US Supreme Court heard arguments challenging President Trump’s broad tariff policies, heightening global trade concerns. US Trade Representative Greer stated that some plaintiffs could receive refunds if the court rules against the tariffs, subject to Treasury’s scheduling.
CBOT soybean futures fell sharply as optimism over renewed demand weakened following signs of easing trade tensions.
Traders are now focused on the USDA’s delayed monthly supply and demand report, scheduled for release on November 14, 2025. Despite the ongoing US government shutdown, the USDA confirmed it is collecting survey data for upcoming crop yield reports.
Brazil’s cotton exports totalled 293,928.51 tons in October, up 5 per cent year-on-year, with daily shipments averaging 13,360.39 tons, also up 5 per cent.
ICE data showed deliverable No. 2 cotton futures inventory unchanged at 13,749 bales as of November 05, 2025.
This morning (Indian Standard Time), ICE cotton for December 2025 traded at 64.66 cents per pound (up 0.12 cent), cash cotton at 62.04 cents (down 0.69 cent), the March 2026 contract at 65.90 cents (up 0.13 cent), the May 2026 contract at 67.11 cents (up 0.13 cent), the July 2026 contract at 68.07 cents (unchanged), and the October 2026 contract at 68.08 cents (down 0.51 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
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