Business
India–US trade deal: Textile, leather players see revival in volumes – The Times of India
CHENNAI: India’s textile, apparel and leather exporters are expecting a sustained recovery in orders from the US, following tariff reductions under the proposed India–US trade deal. Industry representatives said the move will restore competitiveness, improve margins and revive volumes that were under pressure over the past year.Textile and apparel exporters are now expecting an increased sourcing by global brands as India will now enjoy one of the lowest tariff regimes among major Asian manufacturing hubs, with a marginal advantage over competitors, such as Bangladesh, Sri Lanka, Vietnam and China. The tariff relief is expected to create a level-playing field, particularly for small and medium exporters in clusters such as Surat, Gurugram and Tirupur.Prabhu Dhamodharan, convenor of the Indian Texpreneurs Federation, said sourcing interest of US from India is rising and exports are likely to improve steadily. “The apparel and home textile exports will witness month-on-month double-digit growth from the 2026–27 fiscal, lifting the monthly apparel export run rate to $1.5 to $1.6 billion, from the current $1.3 billion.”
Eyeing a level-playing field
A Sakthivel, chairman of the Apparel Export Promotion Council, said improved trade terms would significantly enhance the competitiveness of Indian apparel products in the US market.The leather sector has termed the US decision to reduce tariffs to 18% a “double dhamaka”, coming soon after India’s strategic trade deal with the European Union. Israr Ahmed, former vice-president of the Federation of Indian Export Organisations (Fieo) and managing director of the Farida Group, said exporters had been absorbing the impact of high tariffs by offering discounts of 20–30%. “With the US now reducing tariffs on Indian goods to 18%— a rate lower than those faced by key South Asian competitors, such as Bangladesh and Vietnam — these heavy discounts are no longer necessary,” he said, adding that this would help restore pricing and margins.Rafiq Ahmed, chairman of Kothari Industrial Corporation, noted that competition in the US market has intensified over the past year but said long-standing relationships would help Indian exporters regain lost ground. “The orders from the US, which got reduced in the past one year, will start flowing,” he said.Yavar Dhala, vice-president of the Indian Shoe Federation and CEO of Infinite Leather, said India’s share of leather exports to the US could rise from about 22% to nearly 30% this year, adding that factories operating fewer days due to high tariffs could return to a six-day work week.
Business
MAC entices staff to transform into TikTok live shopping hosts
A major beauty brand is enticing all its UK employees to earn a cut of any sales they drive on TikTok Shop in a bid to cash in on the rapid rise of the influencer-led beauty market.
MAC Cosmetics is kitting out shops with mini studios for its makeup artists to host live shopping shows when it launches on TikTok Shop on April 2.
It says it is the first major beauty brand in the UK to give every member of staff the opportunity to opt in as an affiliate and sell on the social media platform.
Those who become faces of the live channel will be offered a percentage of any sale that they drive on TikTok Shop.
The makeup artists will be encouraged to host tutorials and product demonstrations, with items available to buy directly through the app.
MAC, which is part of the Estee Lauder group of beauty brands, said the first live shopping show will stream from its Carnaby Street store in London.
It is hoping that tapping into social media shoppers will also bring more people into its more than 230 standalone shops and concessions.
TikTok Shop burst onto the UK’s retail scene in 2021 and, in recent years, has become a significant force in the world of e-commerce, reaching millions of people who use the video-sharing app and converting many into shoppers with a few taps.
Many content creators can earn a commission on products that they sell through the app when they co-operate with a brand or retailer.
Major retailers like Marks & Spencer and Sainsbury’s are now selling products on the marketplace alongside thousands of smaller businesses and brands.
The app has particularly been part of a boom for the beauty market, with beauty sales on the platform soaring by 60% year-on-year in 2025, fuelled by trends such as Korean skincare.
But the spread of in-app shopping has also prompted concerns about so-called impulse buying, particularly among younger consumers who are often targeted by influencer-led marketing.
Sara Staniford, the vice president and general manager of MAC in the UK and Ireland, said: “MAC has always been driven by our artists and the communities they create.
“TikTok Shop gives us an exciting new way to celebrate that creativity and connect with beauty lovers in real time.
“It puts our artists exactly where they belong, at the centre of the conversation.”
Business
Coal gasification to boost energy security and cut imports, says G Kishan Reddy – The Times of India
Union coal and mines minister G Kishan Reddy on Sunday said coal gasification will play a critical role in enhancing India’s energy security, reducing import dependence and supporting industrial growth.The renewed push has gained urgency amid the ongoing Middle East conflict, which has led to a surge in global energy prices.Speaking at the Bharat Electricity Summit 2026, the minister described coal gasification as a transformative technology that converts coal into syngas, which can be used to produce cleaner fuels, chemicals, fertilisers and hydrogen, as reported by PTI.He said the approach would enable more efficient and sustainable utilisation of domestic resources while strengthening economic resilience.Reddy highlighted India’s dependence on energy imports, noting that the country imports about 83 per cent of its crude oil requirements, 50 per cent of natural gas and more than 90 per cent of methanol and fertilisers, making energy security a strategic priority.To promote adoption of the technology, the Centre has launched the National Coal Gasification Mission with a target of achieving 100 million tonnes of coal gasification by 2030.“…. An incentive framework of Rs 8,500 crore has been introduced to support public and private sector projects, with several large-scale initiatives already underway and investments exceeding Rs 64,000 crore in the pipeline,” he said.The minister also pointed to advanced technologies such as Underground Coal Gasification, which can help tap previously inaccessible reserves while lowering environmental impact.Calling for greater collaboration, Reddy said coal gasification spans multiple sectors including power, oil and gas and fertilisers, and requires a coordinated ecosystem involving industry, academia, start-ups and research institutions.He reiterated the government’s commitment to streamlined approvals, supportive policies and incentives to encourage early participation and investment.Expressing confidence in India’s potential, the minister said that with innovation, indigenous technology development and coordinated efforts, the country can emerge as a global leader in clean coal technologies while advancing energy security, sustainability and self-reliance.
Business
Sri Lanka increases fuel prices around 25% as Middle East tensions disrupt global oil supplies – The Times of India
Sri Lanka on Sunday raised fuel prices by around 25 per cent, marking the second increase within a week as the ongoing Middle East conflict continues to disrupt global energy markets, news agency PTI reported.The price revision, effective from midnight, comes as tensions triggered by joint US–Israel strikes on Iran and retaliatory action by Tehran have spread across the Gulf region, leading to the closure of the Strait of Hormuz — a key global energy transit route.According to official announcements, the price of auto diesel rose 26.1 per cent from Sri Lankan rupees (LKR) 303 to LKR 382 per litre, while super diesel increased 25.5 per cent from LKR 353 to LKR 443. Petrol 92 octane climbed 25.6 per cent from LKR 317 to LKR 398, petrol 95 octane rose 24.7 per cent from LKR 365 to LKR 455, and kerosene jumped 30.8 per cent from LKR 195 to LKR 255.This is the third fuel price hike since March 1 and comes as the conflict, which has unsettled global oil markets, entered its fourth week.With the latest revision, retail fuel prices in Sri Lanka are set to return close to levels seen during the 2022 economic crisis, when the country declared its first-ever sovereign default since independence in 1948. The unprecedented financial turmoil at the time forced then president Gotabaya Rajapaksa to resign amid widespread civil unrest.The steep increase has sparked concern among transport operators. Non-state bus owners warned that up to 90 per cent of their fleet could be taken off the roads unless fares are revised.“This is the biggest rise of diesel ever. We will not be able to operate buses without an adequate fare revision. We need a minimum 15 per cent fare hike to stay afloat,” Gamunu Wijeratne, chairman of the Lanka Private Bus Owners’ Association, told reporters.The association threatened a nationwide strike if authorities fail to announce a scheduled fare revision.Responding to the developments, the National Transport Commission (NTC) said the latest diesel price increase, when applied to its fare formula, translates into a rise of more than 10 per cent in current bus fares. NTC Director General Nilan Miranda said Cabinet approval is expected on Monday to implement revised fares, according to media reports.Private operators account for about 65–75 per cent of the island nation’s public transport fleet, while the state-run share stands at around 25–35 per cent.Three-wheeler taxi operators, many of whom use petrol vehicles dominated by India’s Bajaj brand, said the price of commonly used petrol had risen to nearly LKR 400 per litre.“Who would want to ride with us at this rate?” a three-wheeler driver said, as quoted news agency PTI.Apart from state-owned Ceylon Petroleum Corporation (CPC), fuel retailing in Sri Lanka is also carried out by Lanka IOC — a subsidiary of IndianOil –as well as China’s Sinopec and Australia’s United Petroleum. Following CPC’s decision, LIOC and Sinopec also revised their retail fuel prices, media reports said.Opposition leaders criticised the government’s tax policy, claiming that authorities collect about LKR 119 per litre of petrol and LKR 93 per litre of diesel in taxes. They demanded that these levies be scrapped to provide relief to consumers.Analysts warned that the fresh fuel price hike could push inflation higher by 5–8 per cent.Earlier, government spokesman and minister Nalinda Jayatissa said that despite the price revisions, the government continues to bear a monthly subsidy burden of around Rs 20 billion by subsidising diesel by Rs 100 per litre and petrol by Rs 20 per litre.He said that without the revision, the state would have faced an additional financial burden of approximately $1.5 billion. Jayatissa urged the public to consume electricity and fuel “mindfully” and warned against hoarding, calling on citizens to report any such attempts.
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