Fashion
Piyush Goyal to visit Brussels to advance India-EU FTA talks
The talks come at a pivotal moment in India-EU economic relations. After remaining stalled for over nine years, FTA negotiations were re-launched in June 2022, marking renewed political will on both sides to deepen economic integration. Since then, 14 rounds of negotiations and several ministerial-level dialogues—most recently in December 2025—have been held, reflecting sustained efforts to finalise a comprehensive and mutually beneficial trade pact.
The European Union is currently India’s largest trading partner and a key investor, with bilateral trade in goods significantly bolstered in the 2024-25 fiscal. This agreement is envisioned not just as a trade deal, but as a comprehensive partnership that addresses modern economic realities.
India’s Commerce Minister Piyush Goyal will visit Brussels from January 8 to advance India-EU FTA talks, reflecting intensified engagement to conclude the long-pending agreement.
Re-launched in June 2022 after a nine-year pause, negotiations have seen 14 rounds and multiple ministerial dialogues.
Goyal will hold high-level talks with EU trade leaders to resolve key issues.
During the visit, Goyal will hold high-level dialogues with the European Union’s commissioner for trade and economic security, Maros Sefcovic. The primary objective of these interactions is to provide strategic guidance to the negotiating teams, resolve pending issues, and expedite the conclusion of a balanced and ambitious agreement, the Ministry of Commerce and Industry said in a press release.
The leaders are expected to carry out detailed deliberations across key areas of the proposed agreement, aiming to narrow divergences and ensure clarity on outstanding matters. The ministerial engagement follows a week of intensive deliberations in Brussels, building upon the groundwork laid during high-level discussions held earlier this week between India’s commerce secretary, Rajesh Agrawal, and the director-general for trade of the European Commission, Sabine Weyand.
A central pillar of India’s negotiation strategy, guided by the vision of Prime Minister Narendra Modi, is to secure an agreement that translates into tangible benefits for the common man. India is pushing for zero-duty access for its labour-intensive sectors—such as textiles, leather, apparel, gems and jewellery, and handicrafts.
Both India and the EU have expressed strong political resolve to deliver a comprehensive deal. The upcoming talks are expected to reaffirm the commitment of both sides to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs while integrating Indian industries into global supply chains.
Fibre2Fashion News Desk (RR)
Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
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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