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Trade deals, fiscal policy back India’s credit fundamentals: CareEdge

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Trade deals, fiscal policy back India’s credit fundamentals: CareEdge



CareEdge Global Ratings believes India’s recent trade deals with the United States and the European Union (EU) along with the fiscal policy path outlined in the budget for fiscal 2026-27 (FY27) uphold the country’s BBB+/stable credit profile.

These developments could enhance the diversification and scale of India’s exports and support medium-term growth prospects, it noted in a release.

At the same time, the budget signals a steady and calibrated approach to fiscal consolidation, anchored in maintaining deficit target with continued emphasis on capital investment, it said.

CareEdge Global Ratings believes India’s recent trade deals along with its fiscal policy path uphold the BBB+/stable credit profile.
These could enhance the diversification and scale of exports and back medium-term growth.
While India’s public debt levels and interest burden are high, resilient domestic demand, diversified growth drivers and comfortable external buffers may back macroeconomic stability.

From a credit perspective, the improved tariff setting supports near-term growth prospects and enhances the predictability of export-linked revenues.

By placing India on a more competitive footing relative to other emerging market exporters, these agreements could support export momentum amid a fragmented global trade environment, remarked CareEdge Global.

While India’s public debt levels and interest burden remain elevated, resilient domestic demand, diversified growth drivers and comfortable external buffers are expected to support macroeconomic stability over the near to medium term, it said.

Sustained progress on revenue mobilisation, delivery on disinvestment targets and effective debt management will be critical to maintaining fiscal credibility and supporting India’s credit profile over the medium term, it added.

Fibre2Fashion News Desk (DS)



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India’s major ports handle record 915 MT cargo in FY 2025-26

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India’s major ports handle record 915 MT cargo in FY 2025-26



Major Indian ports have handled a record 915.17 million tonnes (MT) of cargo in FY 2025-26, surpassing the annual target of 904 MT and registering a 7.06 per cent year-on-year (YoY) growth. The achievement highlights improved efficiency, infrastructure modernisation, and sustained recovery in the maritime sector, according to the Ministry of Ports, Shipping and Waterways.

Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, said, “The record cargo handling of over 915 million tonnes by our major ports is a testament to the government’s unwavering commitment to strengthening India’s maritime sector. We are building world-class port infrastructure, improving efficiency, and enabling seamless logistics to support India’s growing economy.”

Among the ports, Deendayal Port Authority led with 160.11 MT, followed by Paradip Port Authority at 156.45 MT and Jawaharlal Nehru Port Authority (JNPA) at 102.01 MT. Other major contributors included Visakhapatnam, Mumbai, Chennai, and New Mangalore ports. In terms of growth, Mormugao Port Authority recorded the highest increase at 15.91 per cent, followed by Kolkata Dock System at 14.28 per cent and JNPA at 10.74 per cent, the ministry said in a press release.

India’s major ports handled a record 915.17 MT of cargo in FY 2025-26, exceeding the 904 MT target and growing 7.06 per cent YoY, according to the Ministry of Ports, Shipping and Waterways.
The rise was driven by infrastructure upgrades, digitalisation, and improved logistics, with Deendayal, Paradip and JNPA leading volumes.
Strong gains were seen in Mormugao and Kolkata ports.

The growth has been supported by capacity expansion, enhanced multimodal connectivity, digitalisation initiatives, and increased handling of commodities such as coal, crude oil, containers, fertilisers, and petroleum, oil, and lubricants (POL). Improved turnaround time and ease of doing business have also contributed to higher cargo volumes.

The ministry continues to focus on port-led development, logistics integration, and sustainability under the Maritime Amrit Kaal Vision 2047, aiming to strengthen India’s position in global trade.

Fibre2Fashion News Desk (JP)



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Turkiye’s apparel exports ease 2.8% in Jan-Feb 2026

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Turkiye’s apparel exports ease 2.8% in Jan-Feb 2026




Turkiye’s apparel exports fell 2.88 per cent YoY to $2.599 billion in January-February 2026, pressured by weak EU demand, which accounts for nearly 70 per cent of shipments.
Knitted exports dipped 1.6 per cent, while woven declined 4.6 per cent.
Rising costs and currency volatility continue to erode competitiveness, extending a three-year export decline trend.



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India’s Tiruppur shifts to PNG amid LPG shortage in textile units

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India’s Tiruppur shifts to PNG amid LPG shortage in textile units



India’s leading textile hub Tiruppur is accelerating its shift towards piped natural gas (PNG) as industries respond to the ongoing LPG shortage triggered by geopolitical tensions in the Middle East, particularly the US–Israel–Iran conflict, while also aligning with tightening global sustainability norms.

During a session conducted jointly by the Tiruppur Exporters’ Association (TEA) and Adani Total Gas, K. M. Subramanian, President, TEA, highlighted that gas connectivity will become an essential requirement for industries in the coming years, adding that Adani Total Gas is prepared to accelerate PNG rollout in Tiruppur.

Tiruppur’s textile industry is accelerating its shift towards PNG as LPG shortages and rising energy costs disrupt operations.
With production costs up nearly 15 per cent and ESG compliance tightening, PNG is emerging as a reliable and cleaner alternative, helping exporters ensure supply stability, meet global standards, and sustain competitiveness.

He also pointed to upcoming Digital Product Passport (DPP) regulations which will mandate stricter digital monitoring and sustainability compliance across production processes under European ESG norms.

Kumar Duraiswami, Joint Secretary, TEA underscored PNG as a strategic necessity rather than a temporary alternative. He stated that the adoption of PNG is not merely a response to any temporary geopolitical situation, but an essential step as the global industry moves towards sustainable production.

He further noted that exporters to Europe will be required to comply with ESG norms within the next two years, necessitating a gradual shift away from fuels such as LPG and coal.

According to a TEA press release, industry concerns over rising costs were also flagged, with Subramanian noting that energy shortages have already pushed production costs up by nearly 15 per cent, creating operational challenges. He stressed the need for a stable and reliable gas supply to sustain Tiruppur’s large manufacturing ecosystem and urged faster implementation of PNG infrastructure.

Providing operational insights, K. R. Venkatesan, Cluster Head at Adani Total Gas, outlined PNG connectivity availability, registration procedures, and industrial pricing, while Karthik B, Joint Marketing Manager, elaborated on practical applications and addressed industry queries during the session.

Tiruppur’s move towards PNG reflects a broader transition in India’s textile sector, where cleaner energy adoption is becoming central to ensuring supply security, cost stability, and compliance with evolving global sustainability standards.

Fibre2Fashion News Desk (KUL)



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