Reports suggest that by 2028, the used-fashion market will hit $64 billion in value in the U.S. compared to the fast-fashion business of $44 billion.
K Venkataram, managing director and chief executive officer, Karur Vysya Bank says he doesn‘t expect to see any bad loans from the textile companies.
In a recent report released by Crisil, the research agency says that textile companies are set to benefit from the sharp fall in the rupee.
The Textile Ministry has sought the cabinet’s nod for additional Technology upgradation funds scheme, reports CNBC-TV18 quoting sources. The Textile Ministry has reportedly asked for Rs 2,003 crore from the cabinet for 2011-2012 under the Technology Upgradation Funds Scheme and for Rs 5,500 crore from to pay for past commitments.