Fashion
Indian government announces $11.44 bn Rozgar Yojana to boost jobs
Indian Prime Minister Narendra Modi has announced the Pradhan Mantri Viksit Bharat Rozgar Yojana, with an outlay of ₹1 lakh crore (~$11.44 billion), during his 12th Independence Day address from the Red Fort. The scheme aims to create over 3.5 crore jobs in two years. It will provide incentives of up to ₹15,000 (~$172) in two instalments to newly employed youth and up to ₹3,000 (~$34) month per new employee to employers for generating fresh job opportunities.
Prime Minister Narendra Modi has announced the ₹1 lakh crore (~$11.44 billion) Pradhan Mantri Viksit Bharat Rozgar Yojana in his 12th Independence Day address.
First-time employees will get up to ₹15,000 (~$172) in two instalments, while employers receive up to ₹3,000 (~$34) monthly per new hire.
The scheme also promotes savings, formalisation, and extends social security coverage.
Targeting first-time employees registered with EPFO, the scheme will offer one month’s EPF wage up to ₹15,000 in two instalments. Employees with salaries up to ₹1 lakh will be eligible. The first instalment will be payable after six months of service, while the second will be given after 12 months of service and completion of a financial literacy programme.
To encourage savings, a portion of the incentive will be deposited in a savings instrument for a fixed period, withdrawable later. This part is expected to benefit around 1.92 crore first-time employees, Ministry of Labour & Employment said in a release.
Employers, meanwhile, will receive incentives for new employees earning up to ₹1 lakh. The government will provide up to ₹3,000 per month per additional employee for two years, sustained for at least six months. For the manufacturing sector, incentives will extend into the third and fourth years as well. This part is expected to incentivise employers for the creation of additional employment of nearly 2.60 crore persons.
All payments to first-time employees will be made via Direct Benefit Transfer (DBT) through the Aadhaar Bridge Payment System (ABPS), while payments to employers will go directly into PAN-linked accounts. With this scheme, the government aims to boost employment, particularly in manufacturing, while also incentivising youth entering the workforce for the first time. An important outcome will be the formalisation of India’s workforce by extending social security coverage to crores of young men and women.
Fibre2Fashion News Desk (HU)
Fashion
UAE-Jordan Railway Company formed to build freight railway
The agreement covers the construction and operation of a 360-kilometre railway linking the main mining areas of Al-Shidiya and Ghor Al-Safi to the Port of Aqaba.
The United Aran Emirates and Jordan recently an agreement to develop a railway network in Jordan and establish the UAE-Jordan Railway Company.
The agreement covers the construction and operation of a 360-kilometre railway linking the main mining areas of Al-Shidiya and Ghor Al-Safi to the Port of Aqaba.
The project aims at transporting 16 million tonnes of phosphate and potash annually.
The project aims at transporting 16 million tonnes of phosphate and potash annually, with a total investment value of $2.3 billion. Both phosphate and potash are chemicals used in the textile industry.
The agreement was signed by UAE Minister of Energy and Infrastructure Suhail bin Mohamed Al Mazrouei and Jordan’s Minister of Transport Nidal Al-Qatamin.
The UAE-Jordan Railway Company was formally established as a joint venture between Abu Dhabi’s L’IMAD Holding Company (L’IMAD) and several Jordanian stakeholders, according to an official release in the UAE.
The joint venture will be responsible for the implementation, operation and maintenance of Jordan’s railway network through its executing arm, Etihad Rail, the developer and operator of the UAE’s national railway network.
The project will enhance Jordan’s export capabilities and logistics efficiency by directly linking phosphate and potash production sites to the Port of Aqaba, significantly reducing transport time and costs.
It will also support comprehensive economic development and open wide prospects for job creation across multiple sectors, leveraging the extensive expertise of Etihad Rail.
Fibre2Fashion News Desk (DS)
Fashion
Germany’s Puma appoints James Carnes to new creative leadership role
With more than two decades of experience in the sports industry, James brings a unique combination of skills, which will help PUMA use creative direction as an important strategic lever to establish itself as a top-3 global sports brand.
Puma has appointed James Carnes as senior vice president creative direction.
Reporting to Maria Valdes, he will oversee creative direction, innovation, and product excellence.
With over two decades of experience, including leadership roles at Adidas, he will align design strategy with business goals to strengthen Puma’s global brand appeal and market position.
“James is a very highly regarded leader in our industry and he has been instrumental in shaping some of the most influential performance and lifestyle products, labels, and platforms,“ said Maria Valdes. “With a strong background in industrial design and a deep understanding of both athletes and consumers, he will play an important role in getting our customers and consumers excited about PUMA once again.”
Until 2021, James held several leadership positions in design, creative direction and strategy at adidas, both in Herzogenaurach and Portland, Oregon. Most recently he worked as an independent consultant and investor in the wider industry.
At PUMA, James will align creative direction with the company’s overall strategic ambitions, set the seasonal direction for the Business Units and create a long-term look and feel for the brand across consumer touch points.
“Creative Direction is about more than seasonal trends and colours. It is about defining how PUMA holistically presents itself in the market, harnessing the company’s portfolio of world class innovation, and deeply connecting with consumers,” said James Carnes. “We have the amazing opportunity to modernize the image and style of one of the most iconic sports brands in the world and I look forward to leading our teams and collaborating with my colleagues to make this happen.”
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)
Fashion
Top Vietnamese, Chinese leaders hold talks on advancing cooperation
China will step up building a higher-level China-Vietnam community with a shared future that carries strategic significance, Chinese President Xi Jinping said while holding talks with visiting Vietnamese President To Lam.
China and Vietnam are accelerating efforts to navigate bilateral trade towards a more balanced and sustainable course.
President Xi Jinping recently held talks with visiting Vietnamese President To Lam.
During the visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Xi said both countries should work together in their modernisation drive, accelerate the alignment of development strategies and prioritise infrastructure connectivity.
While meeting Chinese Minister of Commerce Wang Wentao during the state visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Wang said both sides should focus on implementing the high-level common perceptions, including raising bilateral trade turnover to $500 billion in future.
Hung urged China to expand imports of Vietnamese goods, broaden the list of products eligible for tariff preferences and further open its market. He also called for the mutual recognition of quarantine results for agro-forestry-fishery products, facilitation of Vietnamese exports via cross-border e-commerce, and expansion of Vietnam’s trade promotion offices across Chinese localities, according to a Vietnamese news agency.
China will continue to support Vietnam in setting up additional trade promotion offices, following those already established in Chongqing, Hangzhou and Haikou, Wang responded.
China also expressed readiness to support Vietnam’s stronger exports through cross-border e-commerce, encouraging greater visibility of the Vietnam National Pavilion on Chinese e-commerce platforms beyond JD.com to better promote Vietnamese products to Chinese consumers.
China has consistently been Vietnam’s largest trading partner and second-largest export market, while Vietnam continues to be China’s biggest trading partner in the Association of Southeast Asian Nations (ASEAN).
Fibre2Fashion News Desk (DS)
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