Fashion
Indian textile industry hails GST reforms, urges review of ₹2,500 slab
Sanjay K Jain, chairman of ICC’s National Textiles Committee, highlighted the broader implications: “The long-standing demand for removal of the inverted duty structure in MMF yarn and fabric has been met—bringing the entire chain under 5 per cent GST, in line with cotton. However, garments priced above ₹2,500 will become around 6 per cent costlier. The use of manmade textiles is expected to rise as a result.”
India’s textile and retail sector has welcomed the GST rationalisation, with industry bodies lauding removal of inverted duty and alignment of MMF with cotton at 5 per cent.
CMAI, RAI and NITMA hailed the move as transformative, though concerns remain over garments and footwear above ₹2,500 being placed in the 18 per cent slab.
Stakeholders urged the Council to adopt a uniform 5 per cent rate.
The Clothing Manufacturers Association of India (CMAI) said the changes address two major demands—removal of inverted duty and equalisation of cotton and MMF chains at 5 per cent. “The increase of the 5 per cent limit from ₹1,000 to ₹2,500 is also an extremely positive move,” CMAI said, while urging the Council to reconsider taxing garments above this level at 18 per cent. “Garments above the price of ₹2,500 are also consumed in large numbers by the common man and middle class, especially woollen clothing, occasion wear, Indian traditional clothing and handlooms,” it added.
Suditi Industries Ltd, owner of kidswear brand Gini & Jony, said the revisions provide dual growth drivers—stronger consumption and improved margins. Commenting on the company’s expansion, Harsh Agarwal, CEO of Gini & Jony, said: “This is a pivotal time for Suditi. With the integration of Gini & Jony, we are no longer just a textile manufacturer—we are transforming into a consumer-facing retail powerhouse. The upcoming GST reforms and strengthening domestic consumption create a strong runway for growth.”
The Retailers Association of India (RAI) termed the move to a two-slab framework “a vital step towards simpler and fairer taxation” but warned against flaws in price-based thresholds. RAI said: “Such slabs create distortions, promote grey market activity, harm organised retail and discourage domestic manufacturing. All garments and footwear should ideally be taxed at 5 per cent, or at the very least, a more reasonable price threshold should be established.”
For the Northern India Textile Mills Association (NITMA), the decision marks a “transformative milestone” for India’s MMF sector. NITMA president, Sidharth Khanna, said: “We are pleased to share that the long-standing issue of the inverted duty structure in GST for MMF textiles has been successfully addressed. These changes will significantly lower costs across the MMF and technical textiles value chain, enhancing efficiency and export competitiveness.”
Raghunath Mannil Balakrishnan, chief executive officer at Mafatlal Industries Limited, opined, “The 56th GST Council reforms bring both opportunities and challenges for the textile and apparel sector. While the increase of GST on coal from 5 per cent to 18 per cent will push up fabric processing costs, the reduction of GST on yarn from 12 per cent to 5 per cent should partially balance this out. As a result, fabric prices overall may not see a significant change. What is particularly encouraging is the reduction of GST on garments priced below ₹2,500 from 12 per cent to 5 per cent. This is a consumer-friendly move that will make mid-market apparel more affordable, stimulate demand, and strengthen growth in this critical segment. For an industry that is both price-sensitive and volume-driven, such measures can provide the much-needed impetus for growth. At Mafatlal, we see this as a positive step that can support industry volumes while ensuring affordability for a wider base of consumers.”
The Southern India Mills’ Association (SIMA) also hailed the GST rationalisation as a long-pending demand fulfilled, calling it a breakthrough for the MMF textile value chain. Dr. S K Sundararaman, chairman, SIMA, said: “This bold and historic reform slots the entire MMF chain at 5 per cent, addressing raw material structural issues that had made the poor man’s clothing more expensive.”
He noted that global MMF accounts for 70 per cent of fibre consumption but only 30 per cent in India, largely due to earlier tax distortions. He added: “The government has set a vision to grow textiles from $172 billion to $350 billion and exports from $37 billion to $100 billion. Polyester will be the main growth engine to achieve this vision.”
Dr. Sundararaman also appreciated the establishment of fibre neutrality and the introduction of 90 per cent provisional refunds for raw material duties, saying these measures would “boost domestic consumption by 7–10 per cent in the near term and help India withstand abnormal tariffs imposed by the US.”
The Indian textile industry has collectively thanked the government for addressing long-standing demands, while pressing for further rationalisation to ensure all garments and footwear are taxed at a uniform rate.
Fibre2Fashion News Desk (KD)
Lesotho’s manufacturing sector has long been regarded as one of its most promising economic pillars, with textiles and apparel leading the charge. Alongside industries like footwear, food, and beverages, textiles have emerged as the dominant force—providing jobs, foreign exchange, and a sense of industrial identity for the small, landlocked southern African nation.
Lesotho’s manufacturing sector, led by textiles and apparel, has been a major economic driver, creating thousands of jobs and generating substantial export earnings, making it a top garment exporter in Sub-Saharan Africa.
However, the US tariff of 50 per cent, which was eventually lowered to 15 per cent after a 90-day pause, triggered mass order cancellations and widespread layoffs.
Over the past two decades, Lesotho has carved out a niche for itself in the realm of garment manufacturing and export, thanks in large part to the African Growth and Opportunity Act (AGOA). The trade deal granted duty-free access to US markets for eligible Sub-Saharan African countries, and Lesotho made the most of it.
By 2024, Lesotho had become the second-largest exporter by value under AGOA and the third largest by volume, almost entirely driven by its textile and garment shipments, as per reports, which added that the industry racked up $237.3 million in exports to the United States that year, a remarkable figure for a nation of just over two million people.
Thousands of workers, most of them women, found stable employment in the sector, stitching garments destined for shelves across America. For a while, Lesotho’s economic narrative was one of steady progress and global integration.
But that story took a jarring turn after US President Donald Trump slapped a staggering 50 per cent tariff on Lesotho’s exports, only to reduce it to 15 per cent after a 90-day pause. But the looming threat of a 50 per cent tariff after the expiry of the 90 days sent shockwaves through the country’s economy, particularly its textile sector, as widespread uncertainty and concern gripped one of Sub-Saharan Africa’s top garment exporters.
Spooked by the looming threat of steep tariffs, American importers had already begun cancelling orders en masse, wary of escalating costs and growing uncertainty. Factory floors, once buzzing with activity, fell silent. The very lifeblood of Lesotho’s manufacturing sector began to drain away.
Layoffs followed, disproportionately affecting women who formed the backbone of the workforce, and the crisis escalated so quickly that the government was forced to declare a two-year state of disaster, citing a dramatic surge in unemployment over the country’s “high rates of youth unemployment and job losses” amidst uncertainty over US tariffs. For many families, livelihoods that had taken years to build disappeared almost overnight.
Although following the 90-day pause and considerable backlash, Trump eventually set the tariff at 15 per cent, it came too late for many businesses that had already borne the worst of the impact. Adding to the complexity, some neighbouring countries, considered Lesotho’s competitors, were offered tariffs lower than 15 per cent.
Trade Minister of the country did not mince words when he addressed this issue.
Interacting with the media, the minister reportedly underlined that the 15 per cent tariff for the textile industry was as good as 50 per cent, as he highlighted the impossibility of competing with regional players like Kenya and Eswatini, who continue to enjoy a lower 10 per cent tariff.
“Those are our direct competition,” the minister reportedly claimed, capturing the sense of frustration that has gripped the sector.
In global trade, where the difference of a few percentage points can determine profitability, even a marginal tariff can mean the loss of business to more cost-effective alternatives. What this episode lays bare is just how vulnerable smaller economies are to shifts in global policy, especially when their fortunes are tied so heavily to a single export market.
Fibre2Fashion News Desk (DR)
Fashion
The Independents says Jamies Gill’s Outsiders Perspective is second name to join L’Incubateur
Published
September 8, 2025
The Independents has announced that The Outsiders Perspective has become the second participant in its L’Incubateur initiative through which the global communications collective aims to “identify, support, and accelerate the next wave of talent, entrepreneurs and creative agencies on a global scale”.
The Outsiders Perspective was founded in 2022 by British-Indian fashion exec Jamie Gill and we’re told it’s “transforming the make-up of the global luxury and lifestyle industries by curating a top-tier talent pool of diverse professionals from high-performing industries and placing them into roles in leading brands”.
L’Incubateur aims to catalyse innovation by connecting next-generation founders with the resources and network they need to scale. We’re told the programme also enables The Independents’ clients, from individuals to global luxury brands, “to benefit from next-generation thinking”.
Gill’s operation joins L’Incubateur as it launches Executive Search to “tackle the global fashion industry’s talent crisis head-on, by placing diverse leaders with sharp strategic acumen in decision-making roles across the luxury and lifestyle industries”. Already hiring for positions in Barcelona, London, Milan and New York, the division “delivers bespoke talent acquisition solutions from senior management to C-suite, future-proofing leadership teams with exceptional talent”.
The Outsiders Perspective is particularly relevant here as its founding mission was based on the belief that the people shaping global brands don’t reflect the customers they serve. It’s doubling down on its diversity focus despite the current trend for businesses to pull back from the approach and said it’s “proving that inclusive hiring is a commercial imperative”.
Over 200 professionals are supported through its Accelerator Programme and it has a growing portfolio of over 25 brand partners, including Chanel, Alexander McQueen, Lululemon and Tiffany & Co.
Jamie Gill said that “this is more than improving representation. It’s about business survival. You cannot drive growth in today’s market without relevance, and that means hiring differently. Global perspectives fuel innovation, unlock customer engagement strategies and build teams for the future. Our talent is commercially astute, highly skilled and strategically sharp. Joining L’Incubateur allows us to tap into The Independents’ global network to scale this mission and expand our executive search offering into new territories and new industries.”
And The Independents’ creative chairman Alexandre de Betak added that: “The Outsiders Perspective’s innovative approach to talent has the potential to transform the composition of our industry for the better. It’s visions like these that we aim to support with L’Incubateur, where we provide financial support and hands-on expertise to industry disrupting ideas.”
L’Incubateur continues to seek applications from companies that “deliver creative and innovative B2B solutions or services for brands in the luxury and lifestyle industries and demonstrate strong synergies with The Independents’ ecosystem”. Alongside a minority investment, it provides tailored mentorship, strategic guidance, and access to The Independents’ ecosystem of experts across brand strategy, storytelling and live experiences. Paris-based spatial design studio Matière Noire was announced as the first participant in the programme when it launched in March.
As for the wider Independents operation, it comprises over 1,200 people and the collective includes 2×4, Atelier Athem, Atelier Lum, Bureau Béatrice, Bureau Betak & Bureau Future, Ctzar, Inca Productions, Karla Otto, Kennedy, Kitten Production, Kitty Events, k2, Lefty, Lucien Pagès Communication, Prodject, Sunshine, Terminal 9 Studios, The Qode and We Are Ona.
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As further described in the election materials and in the parties’ proxy statement/prospectus dated July 11, 2025, each Foot Locker shareholder was entitled to elect to receive, for each share of Foot Locker common stock held prior to the closing of the Merger, either (i) $24.00 in cash (the “cash consideration”) or (ii) 0.1168 shares of DICK’S Sporting Goods common stock (the “stock consideration”). Foot Locker shareholders who failed to make a proper election by the Election Deadline will receive cash consideration for their shares of Foot Locker common stock. Foot Locker shareholders who otherwise would have received a fractional share of DICK’S Sporting Goods common stock upon an election for stock consideration will receive cash in lieu of such fractional share. The election was not subject to a minimum or maximum amount of cash consideration or stock consideration.
Dick’s Sporting Goods and Foot Locker announced preliminary results of shareholder elections for their merger.
Around 92.6 per cent of Foot Locker shareholders opted for stock consideration (0.1168 Dick’s shares per Foot Locker share), while only 1.2 per cent chose cash consideration of $24 per share.
Shareholders who did not elect will receive cash, and fractional shares will be settled in cash.
Based on available information as of the Election Deadline, the preliminary results of the election were:
- Foot Locker shareholders of record of approximately 92.6% of the outstanding shares of Foot Locker common stock elected to receive the stock consideration (which includes 31.6% of the outstanding shares of Foot Locker common stock that made elections pursuant to guaranteed delivery procedures);
- Foot Locker shareholders of record of approximately 1.2% of the outstanding shares of Foot Locker common stock elected to receive the cash consideration (which includes < 0.1% of the outstanding shares of Foot Locker common stock that made elections pursuant to guaranteed delivery procedures); and
- Foot Locker shareholders of record of approximately 6.2% of the outstanding shares of Foot Locker common stock did not make a valid election or did not deliver a valid election form prior to the Election Deadline, which includes approximately 4.5% of the outstanding shares of Foot Locker common stock owned by DICK’S Sporting Goods. Other than the shares of Foot Locker stock owned by DICK’S Sporting Goods, which will be, at the effective time of the Merger, automatically cancelled for no consideration and cease to exist, each non-electing Foot Locker shareholder will be entitled to receive the cash consideration for such shares.
The foregoing results are preliminary only, and final certified results of the election are not expected to be available until shortly before closing of the Merger. As previously disclosed, the Merger is expected to close on September 8, 2025, subject to the satisfaction of remaining customary closing conditions.
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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