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The Hindu
a day ago
- Business
- The Hindu
Indian home textile sector to double its share in the UK market
The Indian home textile sector is likely to see its share in the UK market double because of the India–UK Comprehensive Economic and Trade Agreement (CETA). Vijay Agarwal, chairman of the Cotton Textiles Export Promotion Council (Texprocil), said, 'The India–UK FTA marks a momentous milestone following three years of rigorous negotiations. It is poised to provide a major impetus to labour-intensive sectors such as textiles —particularly home textiles— currently facing a 12% tariff in the UK. With duty-free access, India has the potential to double its share in the UK home textiles market within the next three years. Moreover, with 99% of goods now qualifying for duty-free entry, Indian exporters will gain a substantial competitive advantage in the UK market.' On the investment side, the trade agreement is expected to encourage greater bilateral cooperation between Indian and UK companies, facilitating joint ventures, innovation partnerships, and market development initiatives, he said. According to Sudhir Sekhri, chairman, AEPC, 'This deal will usher a new era of garment trade with the UK. It will enhance market access, spur investment and job creation in the garment sector.' 'The India- UK FTA will not only give competitive market access to the Indian apparel products in the UK market, but also increase the trust and reliability factor by streamlining customs procedures and mutual recognition of standards, thereby, reducing the compliance burdens for the Indian apparel exporters,' he added. The UK is a global fashion hub and the fifth largest garment importer of the world, buying $ 19.7 billion worth apparel in 2024. India exported $ 1.2 billion worth of garments emerging as one among top four suppliers to the UK last year. For most of the garment products, the duty to export to the UK is 9.6%. India mainly exports cotton-based garments such as t-shirts, ladies dresses, and babywear but lacks competitiveness in winter wear and MMF garments, the AEPC said. A. Sakthivel, vice-chairman of AEPC, added the agreement is a game-changer for the Indian textiles and apparel industry. The Powerloom Development and Export Promotion Council said a significant portion of synthetic and blended textiles, cotton fabrics, made-ups, and home furnishings will now have duty-free access to the UK market. K. Sakthivel chairman of Pdexcil, said the agreement marks a new era for Indian powerloom manufacturers and exporters. The elimination of tariffs on key textile products will significantly enhance the weaving sector's global competitiveness, allowing MSMEs to scale up exports and tap into premium markets across the UK. There will be zero-duty market access for a wide range of synthetic, blended, and cotton fabrics and improved market entry for value-added textile products such as bedsheets, curtains, and garments.
The Hindu
27-06-2025
- Business
- The Hindu
Textile, apparel exporters concerned over U.S. reciprocal tariff
The Apparel Export Promotion Council (AEPC) and the Cotton Textiles Export Promotion Council ( Texprocil) have expressed concern over reports that the U.S. may levy up to 26% reciprocal tariff from July 9. AEPC chairman Sudhir Sekhri and Texprocil chairman Vijay Agarwal had met Union Minister of Commerce and Industry Piyush Goyal regarding the concerns related to the proposed India-U.S. Bilateral Trade Agreement. 'They expressed concern over the potential ramifications for the labour-intensive textile and clothing sector because of the potential reciprocal tariff,' according to a press release. Apparel and home textiles are among the leading export products to the U.S., and will be disproportionately affected by any tariff hike. The press release said the Minister assured the delegation that the government was committed to protecting labour-intensive sectors in the ongoing negotiations under the India-U.S. Bilateral Trade Agreement.
Yahoo
16-06-2025
- Business
- Yahoo
Epic Group, Creative Group to boost fashion manufacture in India
The JV was initiated under the leadership of Epic Group chairman Ranjan Mahtani, and in partnership with Creative Group, which is led by chairman Vijay Agarwal. The collaboration was marked by a non-binding memorandum of understanding (MOU) signed on 9 January 2025, which has now been formalised through a shareholder agreement. The venture is supported by an initial funding of $15m and aims to reach a turnover of Rs5bn ($60m) in the foreseeable future. Under the Spectra JV, the inaugural project is a denim and bottoms manufacturing plant with the capacity to manufacture 700,000 units monthly. Spectra will lay emphasis on sustainable practices, innovative approaches, and initiatives that contribute to community growth. Some of the key features of the initiative include use of renewable energy sources to maintain a reduced carbon footprint; creation of 3,000 jobs initially, with the goal of increasing employment opportunities to 10,000 as operations expand; and introduction of advanced manufacturing techniques for apparel production. Combining the manufacturing expertise of Epic Group with Creative Group's 50 years track record in textiles, the collaboration seeks to deliver value to clients, associates, and stakeholders and contribute to India's ascent as a leading centre for eco-friendly garment manufacturing. 'We remain grateful for the opportunity to work alongside dedicated teams and partners who share our vision. This is just the beginning, and we look forward to sharing more updates as Spectra grows and evolves,' said Epic Group. "Epic Group, Creative Group to boost fashion manufacture in India" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Associated Press
15-05-2025
- Business
- Associated Press
Alpheus Medical Raises $52M in Series B Round to Advance Groundbreaking Glioblastoma Therapy
Funding will support a randomized Phase 2B study of the novel sonodynamic therapy in patients with newly diagnosed glioblastoma CHANHASSEN, Minn., May 15, 2025 /PRNewswire/ -- Alpheus Medical, Inc., a private, clinical-stage oncology company pioneering sonodynamic therapy (SDT) for the treatment of solid body cancers, today announced the closing of an oversubscribed $52 million Series B financing round. The funds will support a Phase 2B randomized controlled trial (RCT) evaluating the efficacy of SDT in patients with newly diagnosed glioblastoma (GBM) – one of the most aggressive and deadly forms of brain cancer. Backed by leading healthcare investors, the round was co-led by HealthQuest Capital and Samsara BioCapital with participation from existing investors OrbiMed and Action Potential Venture Capital. In addition, venture investors committed to transforming cancer care participated, including BrightEdge, the impact investment and innovation arm of the American Cancer Society, the Brain Tumor Investment Fund, a subsidiary of the National Brain Tumor Society, and Sontag Innovation Fund, a subsidiary of The Sontag Foundation. 'The complex and diffuse nature of glioblastomas has long hindered therapeutic innovation,' said Conrad Wang M.D., Partner at HealthQuest Capital. 'Alpheus' sonodynamic therapy represents a novel, non-invasive whole brain approach with compelling early data. This investment reflects our commitment to advancing transformative technologies that seek to fill critical gaps in patient unmet needs.' Alpheus' platform delivers non-thermal, tumor-selective therapy activated by low-intensity diffuse ultrasound (LIDU™) with oral 5-aminolevulinic acid (5-ALA). Without the need for imaging or sedation, this combination selectively targets and destroys cancer cells across the entire brain hemisphere. This novel treatment option is performed in an outpatient setting. Promising early results from two studies highlight the potential of SDT therapy in both newly diagnosed and recurrent glioblastoma patients. 'This investment is a key inflection point for Alpheus and the glioblastoma community – advancing sonodynamic therapy from promise to clinical validation,' commented Vijay Agarwal, MD, FAANS, FCNS, President and CEO of Alpheus Medical. 'With this support, we are poised to generate pivotal evidence that could help establish a new standard of care for newly diagnosed brain tumors.' About Alpheus Medical, Inc. Alpheus Medical is a private, clinical-stage oncology company developing a groundbreaking, non-invasive treatment for solid tumors utilizing sonodynamic therapy (SDT). Its proprietary platform combines Low-Intensity Diffuse Ultrasound (LIDU™) with oral 5-aminolevulinic acid (5-ALA), a sensitizing agent that selectively accumulates in tumor cells. This targeted approach aims to destroy cancer cells while sparing healthy tissue. Alpheus collaborates with global leaders in neuro-oncology and is supported by top healthcare investors and the venture vehicles of nonprofit organizations focused on cancer. Learn more at About HealthQuest Capital HealthQuest Capital is a private asset firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry. For more information, visit About Samsara BioCapital Founded in 2017, Samsara BioCapital is a leading biotech investment firm focused on identifying opportunities across public and private markets. Samsara invests across the full spectrum from early-stage start-up to late-stage clinical assets with a focus on companies that will have a significant impact on patients and address high unmet medical needs. Samsara works with entrepreneurs and top-tier management teams that they believe will have a meaningful impact on innovative therapeutics. The Samsara team has deep expertise in biotech with significant experience working together prior to founding the firm. The team is led by Srinivas Akkaraju, who has over twenty-two years of industry experience and has an MD and a PhD in Immunology from Stanford University. Media Contact Carla Benigni [email protected] View original content to download multimedia: SOURCE Alpheus Medical
