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)
The tax is by design largely a pass-through on imports for registered businesses.
A flat 5 per cent rate on synthetic fibres and yarns will correct years of distortion.
The structural drivers of imports remain untouched.
Faster refunds give domestic weavers and knitters the ability to quote more aggressively.
Competitiveness gains, not import curbs, will be the true outcome.
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Translated by
Nazia BIBI KEENOO
Published
September 22, 2025
Textile Exchange‘s annual report indicates that global fibre production is expected to remain on an upward trajectory in 2024, with synthetic fibres steadily widening the gap with natural materials, while cellulosic (wood-pulp-based) fibres are expected to hold steady. The share of recycled fibres has not increased either, except in the wool market.
In 2024, the volume of fibre produced worldwide rose by 6.5% to 132 million tonnes. Synthetic fibres accounted for 69% of this total, up nine points on the 2020 level, with polyester alone accounting for 59%.
Having already reached a 57% share in 2023, polyester continued to gain ground, reaching a total of 78 million tonnes in 2024. Production of recycled polyester increased from 8.9 to 9.3 million tonnes. Polyamide (nylon), the second most-produced synthetic fibre, accounts for just 5% of global fibre production.
Whereas cotton accounted for 20% of fibre production in 2023, it fell to 19% in 2024, with 24.1 million tonnes of virgin cotton. Textile Exchange notes, however, that 34% of cotton produced is now certified to sustainability standards, compared with 28% the previous year. The share of recycled cotton remains stable at 1%, at 300,000 tonnes.
Other plant-based fibres account for 6.9 million tonnes of production. This market is dominated by jute (54%), followed by cotton fibre (26%), flax (5%), and hemp (5%). These two bast fibres, flax and hemp, thus account for 0.3% and 0.2%, respectively, of global fibre production.
Cellulosics, the third major fibre family (obtained through the chemical transformation of plant-based raw materials), maintained their market share, with viscose, acetate, lyocell, modal and cupro accounting for 6% of global fibre production, at 8.4 million tonnes (+6.4%). However, over the past year, the market share of recycled cellulosics has increased, rising from 0.7% to 1.1%, or 90,000 tonnes.
Nearly 70% of this sector’s production is now covered by the FSC (Forest Stewardship Council) and PEFC (Programme for the Endorsement of Forest Certification) forest certification programmes.
Animal fibres still account for only 1% of global fibre production, of which wool captures 0.9%, with 1.98 million tonnes of virgin wool. Within this market, the share of recycled wool has risen from 6% to 7%, with 83,000 tonnes. Cashmere (0.02%), mohair (0.004%) and alpaca (0.005%) have maintained their market shares in global fibre production.
Still within animal-derived materials, global down production rose from 626,000 to 659,000 tonnes, with ducks accounting for nearly 90%. The share of recycled down in this market is only 1%.
Although it is not a fibre, Textile Exchange does not overlook leather. Around 13.8 million tonnes were produced last year, from approximately 1.6 million animals. Global production last year comprised 9.4 million tonnes of sheep skins and 2.2 million tonnes of sheepskins. These figures are in addition to 11.5 million tonnes of goat skins and 800,000 tonnes of buffalo skins.
Excluding fibres, the report estimates global rubber production at 15 million tonnes in 2024. The share of production carried out under the FSC and PEFC forest certification programmes rose over the year from 2.9% to 3.2%.
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Baggy is no longer just a trend; it’s a shift in how people want to wear their denim. The Levi’s brand embraces this with a modern take on loose fits that feel effortless yet intentional. From relaxed jeans to oversized layers, these silhouettes make a statement without trying too hard. This season, baggy is about redefining comfort, confidence and personal style on one’s own terms.
Levi’s unveils ‘Easy in Levi’s’, fronted by Alia Bhatt and Diljit Dosanjh, celebrating a cultural shift towards loose, effortless denim.
The campaign highlights new silhouettes like Baggy Dad Barrel, XL Straight, 578 Baggy, and Extra Baggy, combining ease, movement, and confidence, redefining personal style with modern, oversized fits that reflect freedom, creativity, and self-expression.
Alia Bhatt brings her signature authenticity and global style sensibility to her first campaign for the Levi’s brand. Leading the women’s denim narrative, she wears the Baggy Dad Barrel, a fresh take on a cult favorite with its sculpted ease, curved outseam, and slouchy attitude. Also featured is the XL Straight, a clean, 90s-inspired silhouette with a strong, minimal presence that feels both nostalgic and current. These two fits join the brand’s much loved ’94 Baggy and High Loose that lean into the loose and relaxed trend with a flattering silhouette.
Diljit Dosanjh returns with his unmistakable flair, continuing to champion freedom of movement and individuality through denim. He takes on the 578 Baggy, a laid-back fit with relaxed proportions and stacked detail as well as the Extra Baggy, an exaggerated silhouette that blends expression and ease in equal measure. Rooted in the streetwear aesthetic and embraced by a new generation, the Extra Baggy redefines comfort and confidence, offering room to move while making a bold style statement. With its oversized proportions and effortless drape, it embodies the cultural shift towards fluidity, creativity, and personal freedom in fashion today.
With Alia Bhatt and Diljit Dosanjh at the helm, Easy in Levi’s captures a cultural shift that embraces silhouettes designed for individuality and ease. It’s about comfort that doesn’t compromise on personal style. The rise of baggy signals a move toward self-expression that prioritizes ease over restriction, confidence over conformity. Today’s denim wearers aren’t looking to fit in, they’re dressing to stand out, to move freely, and to feel like their most authentic selves. Baggy fits embody that energy: relaxed, self-assured, and unapologetically bold. It continues to be a silhouette that doesn’t just follow trends but leads a cultural reset in how one wears their denim.
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 (RM)
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