Fashion
India’s real GDP growth for Q1 FY27 projected at 6.6%: RBI
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)
The Confederation of Indian Textile Industry (CITI) expects the upcoming Budget to futureproof India’s textile and apparel sector through measures that will make the arena more resilient, innovative, and globally competitive.
CITI has urged the Union Budget to futureproof India’s textile and apparel sector through reforms on raw material pricing, competitiveness, sustainability and trade facilitation.
Seeking duty-free cotton, technology and green schemes, and export support, CITI said that high US tariffs threaten jobs in a sector vital to GDP, exports and livelihoods.
“Our optimism that the forthcoming Union Budget will significantly move the needle on policy and regulatory reforms is bolstered by the government’s steadfast commitment to the growth and development of India’s textile and apparel sector,” CITI chairman Ashwin Chandran said.
“The Budget enabling the creation of a stronger growth ecosystem for the Indian textile and apparel sector can also have a positive ripple effect on the Viksit Bharat (developed India) goal,” Chandran added.
India’s textile and apparel sector is the second-largest provider of jobs and livelihoods in the country. It is also a significant contributor to the country’s GDP and exports.
Some of the specific measures that the Confederation of Indian Textile Industry (CITI) would like to see in the coming Budget are:
1. Raw material and price stability-related:
- Removal of import duty on all varieties of cotton fibre.
- Change in MSP formula for cotton to align with international benchmark prices.
- Launch of a Cotton Price Stabilisation Fund.
- Ensure availability of man-made fibres (MMF) at globally competitive prices.
2. Competitiveness, technology, and sustainability-related:
- Launch of a Green Technology Scheme to support MSMEs’ transition to clean energy and sustainable practices.
- Launch of an alternative scheme to the erstwhile Technology Upgradation Fund Scheme.
- Launch of a scheme to promote indigenous textile machinery manufacturing.
- Address high power costs and industrial cross-subsidies.
- Establishment of a National Textile Fund.
3. Trade Facilitation-related
- Extension of RBI’s Trade Relief Measures to cover the entire textile value chain.
- Increase in Basic Customs Duty on all types of knitted fabric to curb imports at unviable prices.
- Reintroduction of the MEIS Scheme.
- Extension of the facility of Duty-free Import of specified items/goods to exporters of made-ups.
“Combined, these measures could increase the resilience of India’s textile and apparel sector and help it become a more powerful force globally, while also contributing towards realising the national target of creating a $350 billion textile and apparel industry in India by 2030,” Chandran said.
India’s textile and apparel sector has been hit hard by the 50 per cent US tariff on Indian goods, effective August 27, 2025. The steep US tariff has adversely affected numerous Indian textile and apparel companies, thereby increasing the risk that millions of people working in this sector may lose their jobs and livelihoods.
The US is the single-largest market for India’s textile and apparel exports, contributing almost 28 per cent to the total revenue of the country’s textile and apparel exporters. India’s exports of textile and apparel products to the US were valued at nearly $11 billion in the fiscal year 2024-25.
“India’s textile and apparel exporters have stepped up their diversification efforts, but it is tough to quickly make up for potential business losses in the US. Also, while existing and upcoming FTAs would create new opportunities for India’s textile and apparel sector, these benefits will require time to materialise,” Chandran said.
Fibre2Fashion News Desk (HU)
Published
January 19, 2026
Valentino Garavani, an icon of Italian fashion, founder of his eponymous maison, and widely regarded as one of the greatest designers of all time, died in Rome on January 19, surrounded by his loved ones.
Born in Voghera, Italy on May 11, 1932, he showed remarkable artistic talent from an early age, which led him to study drawing and fashion in Paris, where he worked with couturiers such as Jean Dessès and Guy Laroche.
Upon returning to Italy, he opened his first atelier on Via Condotti in Rome in 1960, supported by his business partner, Giancarlo Giammetti. International success soon followed: his debut show at Florence’s Palazzo Pitti in 1962 marked his breakthrough, establishing him as an undisputed standard-bearer of Italian fashion worldwide. In 1968, the famous “V” logo was introduced, later becoming the emblem of the maison. Equally iconic is his signature red, inspired by a gown he saw at the opera in his youth, which made this shade a defining hallmark of the house.
Valentino Garavani announced his retirement in 2007, at the age of 75, with a final show celebrating his extraordinary career. His legacy is also chronicled in the 2008 documentary directed by Matt Tyrnauer: “Valentino: The Last Emperor.”
Garavani’s lying in state will be held at PM23, Piazza Mignanelli 23 in Rome, on Wednesday and Thursday, January 21 and 22, 2026, from 11:00 to 18:00. The funeral will take place on Friday, January 23, 2026, at 11:00, at the Basilica of Santa Maria degli Angeli e dei Martiri, Piazza della Repubblica 8, Rome.
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