Fashion
Indian industry seeks relief on polyester GST ahead of crucial meeting
Ahead of the crucial GST Council meeting, the North India Textile Mills Association (NITMA) has demanded a uniform 5 per cent GST on polyester fibre, yarn, fabric, and garments. Following Prime Minister Narendra Modi’s announcement of rationalisation and rate cuts, the Council’s meeting scheduled for September 3–4, 2025, has become especially significant. NITMA raised the demand before Indian Finance Minister Nirmala Sitharaman, who chairs the Council.
North India Textile Mills Association (NITMA) has urged the GST Council to impose a uniform 5 per cent GST on polyester fibre, yarn, fabric, and garments to address the inverted duty structure.
Currently, polyester fibre attracts 18 per cent, yarn 12 per cent, and fabrics/garments 5 per cent GST.
NITMA warned that the imbalance threatens spinning viability, risking shutdowns and job losses.
Sidharth Khanna, president of NITMA, said in a letter: “Unlike the cotton value chain—which benefits from a uniform 5 per cent GST across all stages—the MMF segment continues to suffer from disparate tax rates that distort input-output parity and undermine domestic manufacturing viability.” He pointed out that polyester staple fibre (virgin and recycled) is taxed at 18 per cent, polyester staple yarn attracts 12 per cent GST, while manmade fabrics and garments priced up to ₹1,000 are taxed at 5 per cent GST.
Khanna added that taxing yarn at 5 per cent while fibre remains at 18 per cent creates a distortion that renders spinning operations financially unsustainable. If left uncorrected, this imbalance could trigger widespread unit shutdowns and large-scale job losses across the country.
“This is a defining moment for India’s textile sector. Correcting the inverted duty structure will not only neutralise the impact of US tariffs but also unlock growth, investment, and resilience across the MMF value chain—turning challenge into opportunity. There should be a rationalised GST rate of 5 per cent across all stages of the polyester value chain,” he emphasised.
Fibre2Fashion News Desk (KUL)
Published
September 2, 2025
Fortuny, the iconic Venetian house known for its lighting and fashion creations, is pleased to announce the opening of its second Paris boutique, located in the heart of the Beaux-Arts district, at 27 rue Bonaparte, in the heart of Saint-Germain-des-Prés.
This new store expands the brand’s presence in the French capital, as it already boasts a historic boutique at number 17 on the same street.
The opening reinforces a historical connection with Paris, a city that Mariano Fortuny was familiar with and where he opened boutiques as early as 1912. He is regarded as one of the greatest textile artists of all time and is honored with his own Fortuny Museum, housed inside the Gothic palazzo Pesaro Orfei in Venice.
Born in Granada, Spain, Fortuny moved to Paris at the age of three, before eventually settling in Venice. At 18, he met the woman he would eventually marry, Henriette Negrin, in Paris—a city where the multi-faceted artist registered around 20 inventions. Perhaps Fortuny’s signature idea—a unique silk pleating process—was in fact Negrin’s invention.
Today, the Venetian house Fortuny continues this dialogue between Venice and Paris, honoring his legacy while introducing new expressions of heritage and contemporary creation.
Founded in Venice at the beginning of the 20th century, the brand Fortuny embodies timeless elegance and a constant pursuit of beauty and innovation. In the 1980s, Venetian entrepreneur Lino Lando passionately revived the production of Fortuny lamps and garments, including the iconic Delphos dresses, thus preserving Mariano Fortuny’s legacy and breathing new life into his timeless creations.
The new boutique will offer a curated selection of signature pieces and invite visitors to experience the world of Fortuny in a refined and immersive setting.
Copyright © 2025 FashionNetwork.com All rights reserved.
Real GDP growth for Q1 FY27 is projected at 6.6 per cent. The risks are evenly balanced.
The above normal southwest monsoon, lower inflation, rising capacity utilisation and congenial financial conditions continue to support domestic economic activity, he wrote. The supportive monetary, regulatory and fiscal policies including robust government capital expenditure, should also boost demand.
India’s real GDP growth for FY26 is projected at 6.5 per cent, with Q1 at 6.5 per cent, Q2 at 6.7 per cent, Q3 at 6.6 per cent and Q4 at 6.3 per cent, the central bank said.
Such growth for Q1 FY27 is projected at 6.6 per cent.
CPI inflation for FY26 is projected at 3.1 per cent, with Q2 at 2.1 per cent, Q3 at 3.1 per cent and Q4 at 4.4 per cent.
CPI inflation for Q1 FY27 is projected at 4.9 per cent.
Domestic growth is holding up and is broadly evolving along the lines of the central bank’s assessment even though some high-frequency indicators showed mixed signals in May-June, and the inflation outlook for fiscal 2025-26 has become more benign than expected in June, he wrote.
Rural consumption remains resilient, while urban consumption revival, especially discretionary spending, is tepid, he noted.
Fixed investment supported by buoyant government capital expenditure (capex) continues to support economic activity.
While the manufacturing purchasing managers’ index (PMI) remained elevated in the first quarter (Q1) of FY26, the index of industrial production (IIP) showed moderation.
Prospects of external demand, however, remain uncertain amidst ongoing tariff announcements and trade negotiations, the RBI governor wrote. The headwinds emanating from prolonged geopolitical tensions, persisting global uncertainties, and volatility in global financial markets pose risks to the growth outlook.
Consumer price index (CPI)-based headline inflation declined for the eighth consecutive month to a 77-month low of 2.1 per cent in June.
Core inflation, which remained within a narrow range of 4.1-4.2 per cent during February-May, increased to 4.4 per cent in June.
CPI inflation, however, is likely to edge up above 4 per cent in Q4 FY26 and beyond, as unfavourable base effects and demand side factors from policy actions come into play, the central bank governor wrote.
Barring any major negative shock to input prices, core inflation is likely to remain moderately above 4 per cent during the year. Weather-related shocks pose risks to inflation outlook.
Considering all these factors, CPI inflation for FY26 is now projected at 3.1 per cent, with Q2 at 2.1 per cent, Q3 at 3.1 per cent and Q4 at 4.4 per cent. CPI inflation for Q1 FY27 is projected at 4.9 per cent.
Fibre2Fashion News Desk (DS)
Published
September 2, 2025
Derek Rose, founder and chairman of the menswear company of the same name, died in late August. He’d taken the helm of the family business from his father in the 1950s and guided it as it grew and went international.
The company said he was an early champion of British manufacturing and craftsmanship, and his dedication helped the brand win the Queen’s Award for Export on two separate occasions.
Its success was recognised as in 1966 he was elected chair of the British Menswear Guild and also represented British fashion at delegations around the world.
The company said he “loved the clothing trade—not just the business itself, but the people and the products. He delighted in working with mills, manufacturers, agents and retailers to produce the garments that defined the brand. His global vision and insistence on quality led to a loyal clientele in more than 50 countries, yet he remained most proud of the relationships he built with our suppliers and customers”.
It added that the “Rose family and the Derek Rose team are committed to honouring Derek’s legacy. We will continue to uphold the values he lived by — quality without compromise, respect for craft, and a genuine care for the people who make and wear our garments”.
Copyright © 2025 FashionNetwork.com All rights reserved.
Fortuny opens new boutique in Paris
Eurozone inflation: Prices edge up to 2.1% in August, ECB likely to hold rates steady – The Times of India
Source: Madrid still unhappy with LaLiga refs
-
Tech6 days agoReview: Google Pixel 10 Series
-
Sports6 days agoNew Zealand rugby player Shane Christie, who suffered multiple concussions, dies aged 39 – SUCH TV
-
Tech5 days agoTop CDC Officials Resign After Director Is Pushed Out
-
Fashion6 days agoPortugal Jewels Chiado boutique nominated for two global design awards
-
Fashion6 days agoICE cotton futures fall for 2nd consecutive day on strong crop outlook
-
Sports6 days agoNew-look Pac-12 extends CW deal through 2031
-
Fashion6 days agoIsrael’s Delta Galil posts $470 mn Q2 sales, updates 2025 guidance
-
Sports5 days agoDolphins GM Chris Grier says fans threatened his family in string of vile emails after team’s lackluster year