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Asia is expected to remain a dominant player in garment production over the coming decade even as China looks to reduce its apparel manufacturing operations and move up the value chain, analytics firm Fitch Solutions said in a report on Tuesday.

The outlook for the textile sector highlighted that India and Indonesia, which offer low-cost cheap labour and large domestic markets, may lose out due to the lack of conducive business conditions.

Even as China moves up the value chain, many other countries in Asia benefit from favourable labour market dynamics for apparel production, sufficiently predictable logistical connections to serve external trade, free trade agreements that ensure preferential access to major consumer markets, and geographic proximity to raw material producers in China and India, the report said.

“Accordingly, we have already started to see Vietnam benefiting from these trends and expect to see more investments into the country. In addition, we expect Bangladesh, Cambodia and Myanmar to see greater gains in the coming years as costs in Vietnam also rise,” Fitch Solutions said.

It identified India and Indonesia as potential recipients of manufacturing shifts and growth in terms of global apparel export share.

However, according to the report, the two countries’ annual growth rates will look less impressive compared with the other four countries including Vietnam, Bangladesh, Cambodia and Myanmar.

“The countries’ large populations, at 1.4 billion in India and 274 million in Indonesia, make them the second and fourth-most populous nations, respectively, in the world and suggest strong growth potential for domestic consumption,” said the report.

However, a lack of preferential trade access to the US and EU markets, as well as higher labour costs, will act as obstacles for these markets, it observed.

“We at Fitch Solutions expect rising labour costs in China to continue pushing out low- to mid-range manufacturing to cheaper cost centres across Asia.

“However, we believe that it will be exacerbated by rising trade protectionism globally and geopolitical risks attached to operating in China, as relations between China and the West deteriorate. This trend has already taken place for at least half a decade,” said the report.

It estimates high growth potential for textile manufacturing in neighbouring countries such as Cambodia, Myanmar, Bangladesh and Vietnam, supported by large and growing active populations and low labour costs

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“Commission approves acquisition of a 7.8 per cent minority stake in Aditya Birla Fashion and Retail Ltd by Flipkart Investments Private Ltd,”the regulator said in a tweet.

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“Phygital or Omnichannel for us is to provide all digital technologies that we use in all our channels of retailing. It’s all about how both these channels can mutually help each other and ensure that the consumer gets a seamless and uniform experience across all our channels,” said Chaudhary.

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– Anti-Odour: Enriched silver ions prevent odour-causing bacteria from multiplying by blocking the division process, and neutralising bacteria before they interact with sweat to keep clothes smelling fresh and clean for longer.

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Levi Strauss & Co. has announced financial results for the fourth quarter and fiscal year ended November 29, 2020. Due to the company’s fiscal year end, fiscal year 2019 did not have a Black Friday, while the first quarter and the fourth quarter of fiscal 2020 each included the benefit of a Black Friday, and fiscal 2020 also benefited from a 53rd week, which fell in the fourth quarter.

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In its quest to make premium gems and jewelry accessible across the country, Gem Selections has launched two new stores in one day in 2 different states of the country. The people from the state of Uttarakhand will be able to buy high quality affordable gems and jewelry through the brand’s newly opened store in the mountain region Haldwani. Simultaneously, jewellery and

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