Fashion
Indian economy to grow 7.5-7.8% in FY2025-26: Deloitte
The global consultancy said 2026 will be defined by resilience in domestic consumption, decisive policy reforms, and recalibration of trade strategy, as India navigates spillover effects from protectionist shifts in advanced economies, volatile capital flows, and higher tariffs on select exports.
Despite global uncertainty and rising trade frictions, India is expected to outpace peer economies, supported by low inflation, robust consumption, and sustained public investment.
Deloitte cautioned that delayed trade deals and US tariffs could cap export growth, reinforcing the need for supply-side reforms to build long-term resilience.
Despite these headwinds, India maintained strong momentum in the first half of fiscal 2025-26, recording 8 per cent growth, driven by robust private consumption and investment. Inflation averaged 1.8 per cent, its lowest level in a decade, boosting real incomes and consumer confidence.
Private consumption rose 7.9 per cent year-on-year (YoY) in the second quarter (Q2), supported by tax relief, goods and services tax (GST) rationalisation, and favourable monsoon conditions. At the same time, government capital expenditure accelerated, with utilisation reaching 51.8 per cent in the first half of the fiscal, lifting gross fixed capital formation growth to 7.6 per cent.
On the production side, gross value added (GVA) expanded 8.1 per cent in Q2, led by manufacturing growth of 9.1 per cent and services growth of 9.2 per cent.
Deloitte noted that policy co-ordination played a central role in cushioning the economy. Fiscal measures focused on boosting disposable incomes and sustaining infrastructure investment, while the Reserve Bank of India (RBI) delivered a cumulative 125-basis-point rate cut in 2025 to support credit growth and domestic demand. The long-pending labour codes, implemented in 2025, are expected to improve ease of doing business and accelerate job formalisation.
On the external front, India continued to diversify trade partnerships through agreements with the UK, New Zealand, Oman, and European Free Trade Association (EFTA), while expanding engagement with emerging markets across Africa, Southeast Asia, and West Asia. However, delays in the proposed United States (US)-India trade agreement remain a key risk for exporters.
Deloitte estimated that in the absence of a US-India trade agreement, American tariffs could shave 0.3-0.4 per cent of Gross Domestic Product (GDP) from Indian exports, likely keeping goods export growth subdued in the near-term.
Looking ahead, policy priorities must transition from demand-led support to supply-side reforms such as GST 2.0, improved logistics efficiency, and productivity gains to sustain growth and strengthen resilience against future global shocks, Deloitte noted.
Fibre2Fashion News Desk (CG)
The increase was driven largely by energy prices, as declines in regulated and non-regulated energy products eased significantly. In contrast, inflation in services slowed, Istat said in a press release.
Italy’s inflation rose to 1.7 per cent year on year in March 2026, driven by higher energy, according to Istat. Monthly inflation stood at 0.5 per cent.
Core inflation eased to 1.9 per cent, while services inflation slowed.
The HICP increased 1.6 per cent annually, with lower-income households experiencing relatively smaller price rises than higher-spending groups.
Core inflation, which excludes energy and unprocessed food, moderated to 1.9 per cent from 2.4 per cent, while inflation excluding energy eased to 2.1 per cent.
On a yearly basis, goods prices rose 0.8 per cent compared with a slight decline in the previous month, while services inflation slowed to 2.8 per cent from 3.6 per cent. This narrowed the inflation gap between services and goods.
On a monthly basis, the rise in the index was mainly led by increases in regulated energy prices, up 8.5 per cent, and non-regulated energy prices, up 5 per cent, along with gains transport services.
The harmonised index of consumer prices (HICP) rose 1.7 per cent MoM and 1.6 per cent YoY, slightly above the earlier estimate. In the first quarter, inflation remained lower for households with weaker spending capacity compared with higher-spending households.
Fibre2Fashion News Desk (SG)
The decision was taken during a meeting of the council of ministers that was chaired by the Transitional President Captain Ibrahim Traore.
Burkina Faso has announced the full nationalisation of Burkinabe Company of Textile Fibres (Sofitex), citing rising debt, declining production and inefficiencies.
Sofitex was a mixed-ownership firm, in which the state held a majority stake.
Full state ownership is expected to lead to tighter financial discipline, improved governance and a restructuring of operations to boost efficiency.
Sofitex was a mixed-ownership cotton company, in which the state held a controlling majority stake and private investors owned a minority share valued at about 75 billion CFA francs.
A 2025 valuation cited by the government places Sofitex’s total worth at 338.14 billion CFA francs (~$607 million), with the private stake valued at just over 75 billion CFA francs for 976,400 shares.
The company’s cotton production fell by 24-26 per cent to under 300,000 metric tonnes in the 2024-2025 season.
Full state ownership is expected to lead to tighter financial discipline, improved governance and a restructuring of operations to boost efficiency, according to a domestic media outlet.
Fibre2Fashion News Desk (DS)
Markham joins from Whistles, where she served as Creative Director. She was previously Global Design Director at Topshop and Design Director at ASOS. She succeeds Queralt Ferrer who steps down after four years with the Partnership.
John Lewis has appointed Jacqui Markham as fashion creative director, overseeing own-brand womenswear, menswear and childrenswear.
She joins from Whistles and succeeds Queralt Ferrer.
The move strengthens investment in design, quality and relevance, alongside digital growth, Oxford Street refurbishments, exclusive collaborations and an expanded line-up of global fashion brands.
The appointment marks the next phase in John Lewis developing its own brand fashion, with clear creative direction and continued investment behind it.
Markham brings a strong track record of building distinctive, successful collections with a focus on design, quality and relevance for customers.
Her appointment comes alongside John Lewis’s continued investment in fashion, including upgrades to shops and digital, and the recent refurbishment of womenswear and menswear at the Oxford Street flagship store.
This month also sees the launch of the second John Lewis x Rejina Pyo collaboration, and a new 15-piece exclusive capsule collection from Amanda Wakeley. These will complement the expanded line-up of new brands including Samsoe Samsoe, MOTHER, St Agni, Patagonia, Belstaff, Missoma and Completedworks.
Rachel Morgans, John Lewis Director of Fashion, said: “I look forward to welcoming Jacqui to John Lewis at a defining moment for our fashion business. She brings a wealth of expertise and a proven ability to create exceptional design and will support our future creative vision.”
Jacqui Markham commented: “I am very excited to join the Partnership and to work together with all the teams toward a shared vision for the future of John Lewis. It feels like a seminal moment in the long history of the Partnership, and I cannot wait to get started to help shape that vision and bring our collective ideas to light.”
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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