Cotton Crops in Medak, Telangana, Are Devastated by Heavy RainsRecent rainfall across the former Medak district has dealt a severe blow to cotton farmers, causing widespread crop damage, color deterioration, and price volatility. Farmers are anxious that the damaged cotton will fetch lower prices, leading to heavy financial losses.In Sangareddy alone, cotton has been planted on 3.5 lakh acres, with officials estimating a 20 percent loss due to the rains.“Because of the rain, the color of the cotton is changing,” said Rajasekhar, a farmer from Sangareddy. “The Minimum Support Price (MSP) is over ₹7,000 per quintal, but if the crop fails, we are in for serious trouble.”Farmers from Ramayampeta in Medak, like Srinivas Reddy, report that cotton plants have fallen over large areas. In Medak and Siddipet districts, the damage has also been extensive, with 200 acres affected in Medak alone, where 30,000 acres are under cotton cultivation.In Siddipet, where cotton is grown on 1.5 lakh acres, farmers are facing significant losses.The recent typhoon, coupled with continuous rainfall, has been identified as the primary cause of the damage. Farmers are now urging the state government to procure the damaged cotton at the MSP and offer support to help mitigate the rising costs of farming.Read More :- USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
In early trade, the rupee falls 1 paisa to 84.07 against the US dollar.The rupee slipped 1 paisa to 84.07 against the US dollar in early trade on Friday, as the weakening American currency failed to support the local unit amid negative domestic equity markets and higher crude oil prices.Read More :> USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
This evening, the rupee fell 7 paise to settle at 84.07 vs the US dollarAt the close of trading, the BSE Sensex fell 494.75 points or 0.61 per cent to close at 81,006.61. The NSE's 50-share index, Nifty, fell 220.55 points or 0.88 per cent to close at 24,750.75.Read More :- Surat’s Man-Made Fibre Industry Set for Major Boost with New Textile Policy
In early trade, the rupee gains 2 paise versus the dollar.The rupee witnessed a range-bound trade and strengthened marginally by 4 paise to 84 against the US dollar on Wednesday as easing crude oil prices supported investor sentiments. Read More :> Surat’s Man-Made Fibre Industry Set for Major Boost with New Textile Policy
This evening, the rupee gained 4 paise against the US dollar, closing at 84.00At the close of trading, the BSE Sensex fell 318.76 points or 0.39 per cent to close at 81,501.36. The NSE 50-share index, Nifty, rose 86.05 points or 0.34 per cent to close at 24,971.30.Read More :- Surat’s Man-Made Fibre Industry Set for Major Boost with New Textile Policy
A Significant Uplift for Surat's Man-Made Fibre Sector Thanks to New Textile PolicyFibre Industry Set for Major Boost with New Textile PolicySurat: The man-made fibre (MMF) industry in South Gujarat is set to gain significant momentum following the announcement of the new textile policy on Tuesday.Fulfilling a long-standing demand, the government has delivered a Diwali gift to the industry. Under the new policy, textile units in Category 3, particularly those involved in garmenting and technical textiles, will be eligible for capital subsidies of up to ₹50 crore.Weaving, knitting, and processing units in these areas will be entitled to subsidies of up to ₹40 crore. "Similarly, units in Category 1 engaged in weaving, knitting, processing, and spinning will be eligible for capital subsidies of up to ₹50 crore, while garmenting and technical textile units could receive as much as ₹100 crore," said Vijay Mevawala, president of the Southern Gujarat Chamber of Commerce and Industry (SGCCI).Mevawala further highlighted that the PM Mitra Park has been classified as a Category 1 zone, offering substantial benefits to textile units operating there. For the first time, spinning units producing yarn from fibre have been included in the new Textile Policy 2024.The industry has welcomed the capital subsidy announcement with enthusiasm. "This is the first time a capital subsidy has been introduced, and the electricity subsidy will benefit the entire sector, encouraging new investment and creating jobs," said Ashok Jirawala, president of the Federation of Gujarat Weaver Welfare Association (FOGWWA).Ashish Gujarati, president of the Pandesara Weavers Co-operative Society, highlighted the importance of the interest subsidy: "In addition to the capital subsidy, the interest subsidy will offer tremendous advantages, sustaining the industry's growth in the region."Mayur Golwala, secretary of the Sachin Industrial Society, called the new policy a "game-changer," stating, "Several measures are being implemented for the first time in the state's history. This will help prevent the migration of textile units to neighboring states, though effective implementation of the policy will be crucial."Read More :> India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
In early trade, the rupee drops 2 paise to 84.06 against the US dollar.Sensex trades in green, at 81,800, Nifty at 25,050; Oil, financials gainAt opening bell, the BSE Sensex was at 81,621, down 198 points, or 0.24 per cent, while the Nifty 50 was at 25,009, down 48 points, or 0.19 per cent.Read More :>USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
This evening, the rupee gained 2 paise against the US dollar, closing at 84.04At the close of trading, the BSE Sensex fell 152.93 points or 0.19 per cent to close at 81,820.12. The NSE's 50-share index, Nifty, rose 70.60 points or 0.28 per cent to close at 25,057.35.Read More :- USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
Bangladesh's MY 2024–25 Cotton Consumption Forecast Is Updated by USDA to 7.8 Million BalesThe US Department of Agriculture (USDA) has adjusted its cotton consumption forecast for Bangladesh in the 2024-25 marketing year (MY) to 7.8 million bales, marking a slight increase from earlier projections. Of this total, 7.7 million bales are expected to be imported, a 2 percent rise from the previous year.In its April 2024 report, the USDA initially estimated Bangladesh’s cotton consumption at 8 million bales for MY 2024-25. This figure was later revised down to 7.7 million bales in August and September before being raised again in the latest update.The import and consumption of cotton yarn in Bangladesh saw growth last year, while cotton prices declined 15 percent year-on-year (YoY) during July-September, dropping to $1.79 per kg from $2.11 a year earlier, according to World Bank commodity price data.Local reports noted a sluggish domestic cotton market in July and August, with demand beginning to rebound by late September. In MY 2022, Bangladesh’s cotton consumption reached 8.8 million bales, driven by the demand from its export-oriented knitwear sector, the country’s leading export industry. However, consumption declined in subsequent years, with total use falling to 7.75 million bales in MY 2024.Bangladesh sources a significant portion of its cotton from West Africa, followed by imports from India, Brazil, the United States, and Australia, according to the USDA.Read More :- India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
The rupee fell 2 paise to Rs 84.07 against the US dollar in early trade.Sensex, Nifty Open Session In Green, BPCL Shares Up Over 2 Per CentThe two key equity benchmark indices, Sensex and Nifty, on Tuesday began trading on a positive note and inched higher in the morning hours. As of 9:22 AM, the BSE Sensex jumped a little over 200 points and surpassed the 82K mark to trade at 82,177.09, while the NSE Nifty50 gained more than 50 points to trade at 25,184.45Read More :> India's Cotton Imports Likely to Increase in 2024-25 Crop Year
The rupee closed unchanged at 84.06 against the dollar this eveningAt the close, the Sensex was up 591.69 points or 0.73 per cent at 81,973.05, and the Nifty was up 163.70 points or 0.66 per cent at 25,128. Around 1952 stocks advanced, 1919 declined and 140 stocks remained unchanged.Read more:- India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
Rupee rises 4 paise to 84.06 against US dollar in early tradeSensex up 500 pts, at 81,900, Nifty over 25,100; At 10 AM, the BSE Sensex was up 467.29 points, or 0.57 per cent, at 81,848.65, and the Nifty 50 was at 25,099, up 135.15 points, or 0.54 per cent.READ MORE :> India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
Today evening, the rupee closed at Rs 84.06 against the dollar with a weakness of 9 paise.Now talking about equity benchmark indices, the BSE Sensex today closed at 81,381.36 with a slip of 230.05 points i.e. 0.28 percent and the Nifty 50 closed at 24,964.25 with a fall of 34.20 points i.e. 0.14 percent. Intra-day, the Sensex slipped to 81,304.15 and the Nifty slipped to 24,920.05.Read more:- India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
India's Textile Sector Is Expected to Grow by $350 Billion by 2030, With Investment of Rs 90,000 CroreIndia’s textile sector is projected to grow into a $350 billion industry by 2030, with over Rs 90,000 crore expected to be invested in the next 3-5 years through initiatives like the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and the Production Linked Incentive (PLI) scheme, the Ministry of Textiles announced on Thursday.The ministry highlighted that India's textile sector is experiencing robust expansion, with a 11% year-on-year growth in readymade garment exports across all textile categories. The promising August export figures underscore the sector’s bright outlook.Seven PM MITRA parks have been approved across the country, each expected to attract investments of Rs 10,000 crore. These parks are forecasted to generate nearly 1 lakh direct jobs and 2 lakh indirect jobs.Additionally, the PLI scheme is projected to drive investments of over Rs 28,000 crore, with a potential turnover of more than Rs 2 lakh crore. The initiative aims to create around 2.5 lakh jobs by boosting the production of man-made fiber (MMF) apparel, fabrics, and technical textile products, helping the industry scale and achieve greater global competitiveness.The ministry also noted that several major investment plans are in the pipeline, signaling a healthy future for India’s textile industry. India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment ExpectedIndia’s textile sector is projected to grow into a $350 billion industry by 2030, with over Rs 90,000 crore expected to be invested in the next 3-5 years through initiatives like the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and the Production Linked Incentive (PLI) scheme, the Ministry of Textiles announced on Thursday.The ministry highlighted that India's textile sector is experiencing robust expansion, with a 11% year-on-year growth in readymade garment exports across all textile categories. The promising August export figures underscore the sector’s bright outlook.Seven PM MITRA parks have been approved across the country, each expected to attract investments of Rs 10,000 crore. These parks are forecasted to generate nearly 1 lakh direct jobs and 2 lakh indirect jobs.Additionally, the PLI scheme is projected to drive investments of over Rs 28,000 crore, with a potential turnover of more than Rs 2 lakh crore. The initiative aims to create around 2.5 lakh jobs by boosting the production of man-made fiber (MMF) apparel, fabrics, and technical textile products, helping the industry scale and achieve greater global competitiveness.The ministry also noted that several major investment plans are in the pipeline, signaling a healthy future for India’s textile industry.Read More :> Government Sets Target of 1,000 kg Cotton Yield per Hectare for 11 States: Giriraj Singh
In early trade, the rupee advances 2 paise to 83.96 against the US dollar.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.11 per cent to 102.87 points.Read More :> India's Cotton Imports Likely to Increase in 2024-25 Crop Year
The rupee strengthened by 1 paisa to close at 83.97 against the dollar this evening.On October 10, Indian benchmark indices ended with gains amid volatility with the Nifty hovering around 25,000. At the close, the Sensex was up 144.31 points or 0.18 per cent at 81,611.41, and the Nifty was up 16.50 points or 0.07 per cent at 24,998.50.Read more:- India braces for above – average rains, rising temperatures in October
| title | Created At | Action |
|---|---|---|
| Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains | 18-10-2024 18:05:26 | view |
| Rupee slips 1 paisa to 84.07 against US dollar in early trade | 18-10-2024 17:23:31 | view |
| The rupee declined by 7 paise to close at 84.07 against the US dollar this evening | 17-10-2024 23:34:15 | view |
| Rupee rises 2 paise against dollar in early trade | 17-10-2024 17:18:54 | view |
| The rupee strengthened by 4 paise to close at 84.00 against the US dollar this evening | 16-10-2024 23:57:44 | view |
| Surat’s Man-Made Fibre Industry Set for Major Boost with New Textile Policy | 16-10-2024 19:24:41 | view |
| Rupee falls 2 paise to 84.06 against US dollar in early trade | 16-10-2024 17:27:25 | view |
| The rupee strengthened by 2 paise to close at 84.04 against the US dollar this evening | 15-10-2024 23:31:18 | view |
| USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales | 15-10-2024 22:08:31 | view |
| The rupee fell 2 paise to Rs 84.07 against the US dollar in early trade. | 15-10-2024 17:41:28 | view |
| This evening, the rupee remained steady, closing at 84.06 against the dollar. | 14-10-2024 23:17:50 | view |
| Rupee rises 4 paise to 84.06 against US dollar in early trade | 14-10-2024 17:31:59 | view |
| This evening, the rupee ended at Rs 84.06, depreciating by 9 paise against the dollar. | 11-10-2024 23:39:23 | view |
| India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected | 11-10-2024 19:48:20 | view |
| Rupee rises 2 paise to 83.96 against US dollar in early trade | 11-10-2024 17:23:17 | view |
| This evening, the rupee gained 1 paisa against the dollar, finishing at Rs 83.97 | 10-10-2024 23:47:38 | view |
