Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
THE chairman of Reliance Industries has lauded Indian prime minister Narendra Modi's visionary leadership during his speech at the just concluded Vibrant Gujarat Summit.
Mukesh Ambani emphasised that Modi's influence extended globally, portraying him as the most successful prime minister in India's history.
He credited Modi for Gujarat's remarkable transformation, declaring the state as the gateway to modern India's growth.
He echoed the sentiment behind the popular slogan, "Modi Hai To Mumkin Hai," signifying that where Modi is, possibilities are endless.
Ambani also expressed pride in being a Gujarati and declared that Reliance would forever remain a Gujarati company, dedicated to fulfilling the dreams of the people in the state.
He highlighted Reliance's substantial investments, over $150 billion in the last decade, with one-third directed to Gujarat alone.
In a series of commitments to the people of Gujarat, Ambani announced Reliance's role in driving green growth in the state.
He unveiled plans for the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, set to contribute significantly to renewable energy targets.
Additionally, he pledged to make Gujarat a global leader in 5G-enabled AI adoption, enhance retail services, and pioneer new materials and the circular economy.
Ambani concluded his speech by praising Modi's journey from Gujarat to the global stage, expressing confidence in the Modi era propelling India to new heights of prosperity.
The head of one of the largest business groups in the world also envisioned a $35 trillion Indian economy by 2047 and a $3 trillion Gujarat economy, firmly believing in the unstoppable momentum of progress and development.
Ambani also revealed that Reliance and Reliance Foundation, in collaboration with various partners in Gujarat, will collectively enhance educational, sports, and skills infrastructure to nurture future champions across various Olympic sports.
This is in line with Modi's vision for India to bid for the 2036 Olympics, he added.
Shein’s UK sales hit £2.05bn in 2024, up 32.3 per cent year-on-year, driven by younger shoppers.
The retailer benefits from import tax loopholes unavailable to high street rivals.
Faces mounting criticism over labour practices and sustainability as it eyes a London listing.
Tax edge drives growth
Chinese fashion giant Shein is transforming Britain’s online clothing market, capturing a third of women aged 16 to 24 while benefiting from tax breaks unavailable to high street rivals.
The fast-fashion retailer’s UK sales surged 32.3 per cent to £2.05bn in 2024, according to company filings, with pre-tax profits rising to £38.3m from £24.4m the previous year. The growth comes as established players like Asos struggle in an increasingly competitive landscape where young consumers prioritise value above all else.
Shein has partly benefited from a tax break on import duty for goods worth less than £135 sent directly to consumers, The rule lets overseas sellers send low-value goods to the UK tax-free, disadvantaging local businesses.
“The growth of Shein and Temu is a huge factor,” said Tamara Sender Ceron, associate director of fashion retail research at Mintel told The Guardian. “It is particularly successful among younger shoppers. It is also a threat to other fashion retailers such as Primark and H&M because of its ultra-low price model that nobody can compete with. It’s changed the market.
"The market dynamics reflect broader shifts in consumer behaviour. Online fashion sales reached £34bn last year, up 3 per cent, according to Mintel, but shoppers have become more cautious as disposable incomes shrink, and fashion competes with holidays, festivals, and streaming services for wallet share.
Scrutiny builds
Despite its commercial success, Shein faces mounting scrutiny. The company filed initial paperwork last June for a potential London Stock Exchange listing, but critics question its labour practices and environmental impact.
"Regardless of whether Shein gets listed on the London Stock Exchange, no company doing business in the UK should be allowed to play fast and loose with human rights anywhere in their global supply chains,” said Peter Frankental, economic affairs programme director at Amnesty International UK to BBC.
The “de minimis” rule has drawn renewed attention after US President Donald Trump scrapped a similar measure during his trade war with China.
Shein’s UK operation now employs 91 people across offices in Kings Cross and Manchester, focusing primarily on local market expertise.
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