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Amazon Games has reportedly ended its publishing deal with Maverick Games, the studio founded by Forza Horizon 5 veterans. This impacts their ambitious story-driven open-world racing game. Learn why Amazon is reevaluating its game investments and how Maverick Games is pushing forward, actively seeking new publishers for their PC, PS5, and Xbox Series X|S title. Stay updated on the gaming industry's constant race! Date February 27, 2026. Tools used for generation Text Gemini Narator Azure TTS Clips Pexel Rendering Remotion

The acquisition links one of fashion’s biggest fast-fashion players with a brand built on sustainability and transparency

As supply chains shift, the company is leveraging its domestic-first model to strengthen Gini & Jony’s brand presence and tap into rising consumer demand in India. Suditi Industries announced that it is entering a strong growth phase, supported by favourable GST revisions and the continued momentum of its kidswear brand, Gini & Jony. Domestic focus shields from global headwinds With minimal exposure to exports, Suditi remains insulated from global tariff disruptions. As supply chains shift, the company is leveraging its domestic-first model to strengthen Gini & Jony’s brand presence and tap into rising consumer demand in India. GST cuts set to fuel consumption and margins The proposed GST reduction on apparel from 12 per cent to 5 per cent is expected to drive growth on two fronts: * Higher demand: Lower taxes will likely boost festive season sales across Suditi’s retail and mill operations. * Profitability gains: Reduced tax outflow will expand margins, creating room for reinvestment and scale-up initiatives. Investor confidence on the rise Since acquiring Gini & Jony in November 2024, Suditi’s market capitalisation has jumped from Rs 540.5 million to nearly Rs 2.50 billion, reflecting investor confidence in its retail-led strategy. Roadmap to scale Suditi aims to position Gini & Jony as a profitable growth engine by FY26, targeting EBITDA margins of 7–8 per cent. Over the next five years, the brand’s turnover potential is projected at Rs 7–8 billion. Backed by Suditi’s robust manufacturing capacity of more than 100,000 garments per day, the company is well-equipped to meet rising demand. Commenting on the company’s momentum, Harsh Agarwal, CEO of Gini & Jony, said, “This is a pivotal time for Suditi. With the integration of Gini & Jony, we are no longer just a textile manufacturer—we are transforming into a consumer-facing retail powerhouse. The upcoming GST reforms and strengthening domestic consumption create a strong runway for growth. We are confident of delivering value to our customers, investors, and all stakeholders as we build one of India’s most trusted kidswear businesses.” The post Suditi Industries accelerates growth with GST Boost and Gini & Jony expansion appeared first on Indian Textile Journal.

The 56th GST Council reforms bring both opportunities and challenges for the textile and apparel sector. While the increase of GST on coal from 5 to 18 per cent will push up fabric processing costs, the reduction of GST on yarn from 12 to 5 per cent should partially balance this out. As a result, fabric prices overall may not see a significant change. What is particularly encouraging is the reduction of GST on garments priced below Rs 2,500 from 12 to 5 per cent. This is a consumer-friendly move that will make mid-market apparel more affordable, stimulate demand, and strengthen growth in this critical segment. For an industry that is both price-sensitive and volume-driven, such measures can provide the much-needed impetus for growth. At Mafatlal, we see this as a positive step that can support industry volumes while ensuring affordability for a wider base of consumers. This view has been presented by Raghunath Mannil Balakrishnan, Chief Executive Officer at Mafatlal Industries Limited The post M B Raghunath: Reduction in GST will make mid-market apparel more affordable appeared first on Indian Textile Journal.

Focus on diversification, premiumisation, and financial discipline to sustain growth. VTM, a leading Indian home-textile manufacturer with a significant export presence in the United States, has announced a set of proactive measures to minimise business impact, ensure supply continuity, and sustain medium-to-long-term growth following the newly imposed US tariffs on imports from India. Key measures outlined by VTM include: * Customer continuity: Fulfil confirmed US orders on schedule while engaging with key accounts on shared-burden pricing and assortment adjustments. * Market diversification: Expand sales in the UK under the India-UK trade agreement and deepen presence across the EU, GCC, ANZ, Japan, and the Indian domestic market. * Portfolio premiumisation: Shift focus to performance-driven and premium bed and bath programmes, alongside piloting direct-to-consumer initiatives in select regions. * Financial discipline: Strengthen cost-control and productivity measures to counter input and logistics inflation, safeguarding margins during volatility. Commenting on the development, Hari Thiagarajan, Chairman & Managing Director, said, “While the US market currently contributes a significant proportion of VTM’s total sales, we have a defined roadmap to minimise tariff-led headwinds. Although this may lead to some short-term volatility, we remain prepared to deliver on our medium- to long-term objectives. Our immediate priorities are ensuring business continuity in the US, proactively engaging with our customers there, and working out solutions to maintain our relevance in that market. We are also trying to diversify our product mix with higher US origin cotton which will give a US tariff exemption opportunity.” He further added, “At the same time, we are accelerating expansion into newer geographies and value-added categories. Over the past several decades, VTM has successfully navigated tariff and demand cycles, and with a broader playbook—spanning diversification, premiumisation, stronger domestic channels supported by our robust capital structure—we remain confident of sustaining growth through near-term challenges and building momentum for the medium term. We soon expect a relief package for textile exporting companies like us, from the Government of India which will aid us in better price realisation of our export products. Going by broader market sentiments this may include interest subvention measures, increase in export incentives like RODTEP, ROSCTL and Duty Drawbacks. Removal of cotton import duty of 11 per cent would also bring down cotton yarn prices which is our major raw material. We are optimistic on the conclusion of a bilateral trade agreement between India and USA by end of the year which will rebalance trade disruptions and safeguard future exports.” The post VTM unveils strategy to tackle new US tariffs appeared first on Indian Textile Journal.

India’s textile and apparel (T&A) industry, one of the country’s largest employment generators, has faced a severe blow with the United States doubling tariffs on Indian exports from 25 per cent to 50 per cent, effective from August 27, 2025. With nearly 28 per cent of India’s T&A exports destined for the US, the new duties could disrupt a sector that contributes almost 2 per cent to the nation’s GDP and supports over 100 million direct and indirect jobs. Export hubs such as Tiruppur, Noida, Gurugram, Bengaluru, Ludhiana, and Jaipur are rushing to dispatch consignments before the deadline to escape the new tariffs. In Tiruppur alone, shipments worth nearly ₹20 billion each month are being expedited, with exporters racing to get goods cleared before the cut-off. However, uncertainty looms over shipments landing in the US after September 17, which will be subject to the steep duty. The potential impact is staggering. In FY 2024–25, India’s textile and apparel exports to the US touched $10.8 billion, of which $5.3 billion came from apparel alone. With tariffs now set to rise to an effective rate of 63.9 per cent, exports worth as much as $11 billion annually are at risk, raising fears of widespread factory closures. Industry players estimate that apparel shipments worth $3–3.5 billion are immediately under threat. At 50 per cent, US buyers have virtually halted new orders, making India’s products uncompetitive compared with rivals. Industry leaders have urged for urgent government support through cash-based export incentives, stressing that temporary subsidies are essential to counter new tariffs and prevent major export disruptions. Large companies, having production facilities outside India, are realigning their supply chain and production processes to minimise tariff impact. On the policy front, New Delhi has moved quickly. The government has launched its first countermeasure by focusing on boosting textile exports through outreach programmes in 40 key markets, including the UK, Japan, South Korea, Germany, France, and Australia. While India exports to over 220 countries, these 40 markets are critical as they collectively import over $590 billion worth of textiles and apparel annually, against which India’s market share is only 5–6 per cent. The government has also scrapped the 11 per cent duty on cotton to make Indian products more competitive and is preparing an Export Promotion Mission worth ₹25 billion to help offset tariff impacts. Export Promotion Councils (EPCs) have been asked to lead the diversification drive by mapping markets, identifying high-demand products, and linking clusters such as Surat, Panipat, Tirupur, and Bhadohi to global opportunities. Despite near-term challenges, industry leaders see the crisis as a potential turning point for India’s export strategy. They believe extreme tariffs are unsustainable and that India’s strong domestic market, large workforce—four times that of the US—and growing global relevance could drive a manufacturing renaissance if supported by bold policies. The moment is viewed as critical for protecting jobs, strengthening industry, and reinforcing India’s role in global trade. The post US Tariff: India’s Textile Test appeared first on Indian Textile Journal.

CMAI has been continuously advocating a single and uniform rate of GST for all sectors of the textile Industry, at the lowest slab which is 5 per cent. At the outset, CMAI congratulates and thanks Prime Minister Narendra Modi, for his decision to amend the GST rules with the twin objectives of making products of mass consumption cheaper for consumers, and to simplify the complex multi-tiered GST slabs and reduce it to just three slabs, they being 5, 18, and 28 per cent. These changes will be a game changer in the economic progress of the country, and go a long way in improving ‘ease of doing business’. However, CMAI cautions that it has not been clarified whether the entire spectrum of Textiles, particularly garments, will be brought under the 5 per cent slab, or only Garments within a certain price range. CMAI has been continuously advocating a single and uniform rate of GST for all sectors of the textile Industry, at the lowest slab which is 5 per cent, with the underlying logic that textiles is always considered an item of mass consumption, and essential commodity, and universally taxed at the lowest slab of taxation. However, some disturbing media reports indicate that the Government may be considering the products priced above Rs 2500 to be taxed at 18 per cent. Santosh Katariya, President, Clothing Manufacturers Association of India (CMAI), stated that “Keeping textiles products along with products like electronics, mobile phones etc. under the same GST slab would not be consistent from an overall economic rationale and consumer perspective”. He further added that the industry, which previously notorious for its strong participation in the ‘Grey’ or ‘informal’ sector, was brought into the ‘formal’ sector largely due to the reasonable rate of GST (5 per cent). Even the rate of 12 per cent was, albeit with hesitancy, accepted by the industry for a portion of its products, as the difference between the two segments was acceptable though not ideal. Katariya further expressed his concern stating that “by levying 18 per cent GST on products priced above a certain price point, will only encourage going back to the earlier era of informal transactions. Any such arbitrarily determined price point will only encourage manufacturers and traders to avoid raising Invoices, or under-valuing them. Manufacturers will also tend to reduce their quality standards in order to come under the maximum cut off price point,” he cautioned. Ankur Gadia, Vice President, CMAI, pointed out that various product categories such as Woolen Clothing, Wedding Clothes, and Sustainable Clothing were more expensive due to the inherent higher costs of their raw material and manufacturing processes. “Woolen clothes are part of essential consumption in many parts of India, particularly North and North East, and it would be unfair to tax them at a higher rate merely because it is priced at Rs 3,500 or 5,000.” Similar is the case of Wedding clothes, he added, “Dressing up one’s daughter for her wedding is the dream of every parent – regardless of their social or financial status. Should this dream be slashed merely because the typical ‘lehenga’ or wedding saree is priced at Rs. 10,000 or 15,000?” Rahul Mehta, Chief Mentor, CMAI, also called out that “One of the categories which will suffer hugely is our traditional Handloom and Embroidered garments, which are intrinsically more expensive compared to synthetic and machine-made garments due to their very nature. Should we charge a higher tax to our home-grown traditional clothing?” The current “Tariff Wars” are already threatening to deal a death blow to the Export Sector of Textiles. We need a strong, thriving domestic sector for the industry to survive. To summarize, CMAI urges the entire Textile Value Chain to be brought under the 5% slab for the following reasons: * Textiles of all forms are items of mass consumption * A price-led bifurcation of GST slabs will lead to hardships will lead to arbitrary exclusion of critical items such as woolens and celebratory wear * Proudly Indian and traditional products will suffer with high GST rates * The highest employer after agriculture should not be tampered with * High risk of sector reverting to informal sector if levied with high GST * Indian garment industry already in crisis with the current tariff wars CMAI looks forward to the Government’s understanding and support and urged the GST Council to retain the entire Textile sector under the 5 per cent GST slab. The post CMAI seeks uniform 5% GST to strengthen domestic textile industry appeared first on Indian Textile Journal.

In February this year, the Good Fashion Fund conducted an annual progress assessment of Coimbatore- based Sri Kannapiran Mills, supported by expert advisors including Bureau Veritas, Fairwear Foundation, GlobalCAD and adelphi Consult. The Good Fashion Fund, managed by FOUNT, made its second investment in India with Sri Kannapiran Mills in 2023 for a $2.5 million US dollar, long-term loan supporting replacement and modernisation of key equipment in two cotton spinning mills (KG Naidu Mill, Balaji Mill) and a denim weaving unit (KG Fabriks). Following on-site monitoring and offline assessments in Q1 and Q2 ’25 by GFF and third-party advisors, the investment confirmed notable positive results documented in a deep dive case study, a first for the industry, highlighting the financial savings, resource efficiency gains and social improvements in the Tier 2 and Tier 3 units of Sri Kannapiran Mills. Independent monitoring validates impact In February this year, the Good Fashion Fund conducted an annual progress assessment of Coimbatore- based Sri Kannapiran Mills, supported by expert advisors including Bureau Veritas, Fairwear Foundation, GlobalCAD and adelphi Consult. The evaluation aimed to establish the outcomes of the Good Fashion Fund loan in June 2023 to replace legacy equipment – some over 25 years old – and to automate manually intensive spinning operations. A follow-up technical assessment in June further validated the energy performance of the GFF-funded equipment in the Tier 2 (KG Fabriks) and Tier 3 factories (KG Naidu Mill, Balaji Mill) compared to the baseline year of 2023. The verified findings confirmed that the investment comfortably surpassed the minimum 50 per cent environmental savings target for financed key equipment – specifically Good Energy and Good Materials – supported by tangible financial savings (Good Economy). It has also delivered direct tangible improvements on environmental and social action items based on the initial due diligence by the fund, resulting in a replicable blueprint or model for other Tier 2 and 3 factories operating legacy systems. With the funding, SKML installed newer model rotor spinning machines, auto doffers, auto blender and high-speed winding machines – that operate more efficiently than the legacy equipment. For the weaving unit, the company upgraded its singeing machine, purchased several second-hand air jet looms and a cone winding machine – improving overall capacity and efficiency. In the period since the investment, the company has also improved its energy mix to 58.1 per cent solar (vs 32.6 per cent), 20.7 per cent wind (vs 18.1 per cent), 10.8 per cent natural gas (vs 25.6 per cent) and the remainder from the grid (as of Mar ’25). “Without the Good Fashion Fund, we may not have moved forward with these upgrades so confidently. As an SME navigating a turbulent global supply chain—marked by trade disruptions, rising input costs, and sustained margin pressures—long-term investments are difficult to justify without the right support. The flexible capital and technical guidance from GFF helped us take a leap we couldn’t have taken alone. We’re now seeing the benefits—not just in cost savings and operational improvements, but also in product quality, data systems, and progress on worker well-being. It has shown us what’s possible” said Srihari Balakrishnan, Managing Director of Sri Kannapiran Mills. L-R: Jayaraj (SKML), Ravi Kumar (Fairwear), David Varghese (Fairwear), Gurunathan (SKML), Krishnakumar (SKML), Srihari Balakrishnan (SKML), Seenivasahan (SKML, Sruthi Ramesh (GFF), Bob Assenberg (GFF), Jayanth Kashyap (GFF), Dr Jürgen Hannak (adelphi Consult). Not in picture – Rakesh Vazirani (Bureau Veritas), Jagadish VP (Bureau Veritas), Sudalaimuthu VS (Bureau Veritas) Key results from the monitoring of GFF financed equipment (2024) Environmental * Up to 59 per cent reduction in energy consumption from key equipment – 886,439 Kwh saved annually * Up to 95 per cent reduction in cotton waste generation – 4,756 kgs annually saved * ~1272 tonne of CO2 saved from GFF financed equipment Social * Safer working conditions due to automation of manual doffing process * Enhanced environmental and social governance through data monitoring systems * Improved grievance mechanisms and health & safety measures implemented Financial * $140,000 annual approx. gross savings from energy-efficient spinning and waste reduction * $115,000 annual approx. gross savings from improved weaving production efficiency * Monthly fabric output increased to 220,000 metre due to additional air jet looms GFF monitoring and verification team at KG Naidu and Balaji Mill Rakesh Vazirani, Head of Decarbonization Bureau Veritas commented, “Bureau Veritas verified the GFF investment’s impact at three SKML units, confirming 886,469 kWh of annual energy savings and up to 95 per cent yarn waste reduction in 2024. Our two-part assessment found SKML’s culture of structured data and cross-functional collaboration key to success. Upgrades like auto-doffers, Saurer rotor machines and Reshmi winders boosted energy and material efficiency while enabling stronger operational monitoring. The transformation was enabled by GFF’s hands-on approach, SKML’s leadership, and alignment with evolving frameworks like Higg FEM and EU CSRD. This verification by BV was led by Jagadish VP with support from Sudalaimuthu VS.” Release of case study and industry relevance With the support of advisors GlobalCAD and adelphi Consult, the GFF is proud to release a deep dive case study, along with this announcement, providing a closer view of the fund’s use of proceeds, environmental and financial outcomes, and social improvements enabled by the fund’s capital and technical assistance. As one of the first publicly documented examples of impact validation in Tier 2 and Tier 3 textile manufacturing, the case study offers valuable insights for investors, brands, and ecosystem stakeholders looking to accelerate supply chain transition. These results reflect the effectiveness and additionality of impact investment in driving transformation within the deeper tiers of the textile supply chain beyond Tier 1 – particularly for small and medium- sized enterprises (SMEs) that are the most resource intensive and yet, undercapitalised, underserved by technical assistance and not yet reached by brand-led initiatives. The SKML case demonstrates how targeted financing and manufacturer leadership can work together to deliver credible, measurable progress—at a time when brands are under growing pressure to decarbonise and derisk their supply chains without excluding the well-being of the millions of workers embedded in them. It’s a practical example of how real alignment between sustainability commitments and factory-level action can be achieved. Speaking on the impact and case study, Bob Assenberg, Co-Founder FOUNT and Fund Director Good Fashion Fund, “Sri Kannapiran Mills exemplifies the kind of front-running manufacturer the Good Fashion Fund is proud to support. Their focus on continuous improvement—not just through upgraded equipment, but through data-driven decision making and in-house innovation—shows that transformation doesn’t always require acquiring the newest or most advanced technology. It requires a mindset. By prioritising what’s available, affordable, and adaptable to their context, SKML has delivered measurable improvements and built a foundation for long-term progress. This case strengthens our conviction that catalytic finance must go deeper into the supply chain—and it directly informs the design of Good Fashion Fund 2.0, which will aim to create stronger alignment between brands’ and manufacturers’ sustainability strategies” The post Good Fashion Fund validates impact in India’s tier 2 and 3 units appeared first on Indian Textile Journal.

The decision comes at a time when exporters are grappling with cancelled or delayed orders from US buyers following Washington’s move to impose an additional 25 per cent tariff on Indian goods. The government’s move to scrap the 11 per cent duty on cotton imports has provided immediate relief to India’s textile industry, which has been facing heightened uncertainty due to tariff pressures in key export markets. In a notification issued by the Central Board of Indirect Taxes and Customs (CBIC), raw cotton imports under heading 5201 will be exempted from customs duty between 19 August and 30 September. Industry associations have long sought such a measure to support exporters against global trade disruptions. According to the Confederation of Indian Textile Industry (CITI), even a temporary duty removal demonstrates policy support for strengthening the sector’s global competitiveness. The decision comes at a time when exporters are grappling with cancelled or delayed orders from US buyers following Washington’s move to impose an additional 25 per cent tariff on Indian goods. The cotton value chain in India employs nearly 35 million people and contributes to about 80 per cent of textile exports. Any prolonged disruption risks adverse effects on employment and foreign exchange earnings, with the industry aiming to double its shipments to $100 billion by 2030. The US remains the largest destination, accounting for 33 per cent of ready-made garment exports in 2024, as per the Apparel Export Promotion Council (AEPC). Meanwhile, the government is implementing wider export-boosting initiatives. Minister of State for Commerce and Industry Jitin Prasada informed Parliament that strategies include incentives, trade promotion activities, and digital platforms. Under the Export Hubs Initiative, supply chain interventions have already been prepared for 590 districts, with work progressing to cover the rest, aimed at strengthening MSME participation in global trade. The post Cotton duty waiver eases pressure on textile exporters appeared first on Indian Textile Journal.

The exemption covers 5 per cent customs duty, 5 per cent Agriculture Infrastructure and Development Cess (AIDC), and 1 per cent additional cess, offering much-needed relief to the textile industry. The Northern India Textile Mills Association (NITMA) has lauded the Government of India’s decisive move to exempt import duties on all varieties of cotton (HSN 5201), effective from August 19 to September 30, 2025, as notified by the Ministry of Finance (Notification No. 35/2025-Customs dated 18.08.2025). The exemption covers 5 per cent customs duty, 5 per cent Agriculture Infrastructure and Development Cess (AIDC), and 1 per cent additional cess, offering much-needed relief to the textile industry. Munish Avasthi, Senior Vice President of NITMA, extended sincere appreciation to the Prime Minister Narendra Modi for his dynamic and visionary leadership, and to the Ministers Giriraj Singh and Nirmala Sitharaman for swiftly addressing the textile industry’s pressing concerns. He emphasised that this measure is a critical enabler in achieving India’s $100 billion textile export target, especially as the sector grapples with high raw material costs and a widening gap between domestic and global cotton prices. “The removal of import duty on cotton is a strategic intervention that will stabilize the supply chain and support the entire cotton value chain during a period of acute raw material stress,” said Avasthi. However, he also flagged a concern regarding the limited duration of the exemption, noting that cotton shipments from key sourcing countries such as the USA & Brazil, generally require 70 -75 days, potentially limiting the benefit for importers. MMF sector: Call for urgent GST reform On the man-made fibre (MMF) front, Sidharth Khanna, President of NITMA, highlighted the long-standing issue of Inverted Duty Structure (IDS) under GST, which continues to hinder growth and investment across the MMF textile value chain. While commending the government’s proactive stance on cotton, Khanna urged the Ministries of Finance and Textiles to extend similar support to MMF by: * Adopting a uniform 5 per cent GST rate across the MMF value chain, in line with the cotton value chain by reducing GST on MMF yarn from 12 to 5 per cent, and on inputs like PTA, MEG, and man-made fibres from 18 to 5 per cent. He emphasised that correcting this anomaly would: *  Ease working capital constraints, especially for MSMEs, by reducing reliance on complex refund mechanisms and improving liquidity. *  Address cost disparities, as imported synthetic yarn—subject to just 5 per cent duty or nil under FTAs—remains more economical than domestic yarn, which accumulates taxes. * Encourage investment, by resolving the non-adjustment of 18 per cent GST on machinery due to IDS. * Boost global and domestic competitiveness, without impacting government revenue, since fabrics are already taxed at 5 per cent. NITMA reiterates its commitment to working collaboratively with policymakers to ensure a robust, resilient, and globally competitive textile sector. The post NITMA hails cotton duty relief and seeks GST rationalisation in MMF appeared first on Indian Textile Journal.