President Trump Imposes 10% Global Tariff from February 24US President Donald J. Trump has announced a temporary 10% global import surcharge, citing growing balance-of-payments pressures and risks to economic stability. Issued through a presidential proclamation on February 20, the measure takes effect February 24, 2026, for 150 days unless extended by Congress.The White House said senior advisers found “fundamental international payments problems” requiring special import measures under Section 122 of the Trade Act of 1974. Trump determined the tariff is necessary to correct external imbalances and stabilize the US economy.Officials noted that America’s balance on primary income turned negative in 2024 for the first time in decades, while its net international investment position fell to –90% of GDP. Persistent goods trade deficits of about $1.2 trillion and a widening current account gap of 4% of GDP have raised concerns over financial sustainability.The surcharge will apply to most imports in addition to existing tariffs but excludes key sectors such as critical minerals, energy, pharmaceuticals, aerospace, and vehicles. Imports under the US-Mexico-Canada and Central America trade agreements remain duty-free.The administration stressed the move targets macroeconomic imbalances, not industry protection. The US Trade Representative will monitor its effects and may adjust or end the measure before its July 24 expiry.The action is one of Washington’s most sweeping trade steps in recent years and is expected to draw strong global responses.read more:- Gujarat's textile budget rises to $302 million
Gujarat Raises Textile Outlay to US$ 302 Million in FY ’27 BudgetGujarat has boosted its textile-sector allocation to Rs. 2,755 crore (US$ 302 million) for FY 2026–27 under the Development of Textile Industry scheme, up from Rs. 2,000 crore (US$ 219 million) in 2025–26. Announced by Finance Minister Kanubhai Desai, the rise underscores the State’s focus on consolidating its textile leadership and enhancing MSME competitiveness.The scheme will fund capacity expansion, technology upgrades, and new investments across the value chain. Increased subsidies aim to strengthen industrial infrastructure and scale. Support for cottage industries, handloom, and small-scale units continues through grants, training, and export facilitation.Funding for the Gujarat State Handicraft Development Corporation rises to Rs. 48.05 crore (US$ 5.28 million), with Rs. 23 crore (US$ 2.52 million) set aside for design contests, exhibitions, and promotions. A new Gujarat State Export Promotion Council will be established with Rs. 5.90 crore (US$ 648,000) to boost exports and MSME market access, including through e-commerce integration.Overall, the Budget combines expanded industrial investment with targeted support for traditional sectors and digital export initiatives.Ashish Gujarati, former SGCCI president, said the increased outlay and proposed export council reaffirm the State’s commitment to the Gujarat Textile Policy and MSME growth.read more:- Court decision on tariffs, Trump's Plan B
Trump furious over Supreme Court's decision on tariffs, calls it shameful, says he has a Plan B readyNew Delhi. US President Donald Trump has reacted sharply to the Supreme Court's decision declaring the exorbitant global tariffs illegal. Following the repeal of the global tariffs, the President stated that he has a "backup plan" for penalty tariffs. During a breakfast with US governors at the White House, he described the Supreme Court's decision as "shameful."According to two people familiar with his remarks, Trump told those present that he already has an alternative plan ready after the court's decision. Meanwhile, Trump administration officials had already warned the President to be prepared for the possibility of an adverse ruling and assured him that even if the tariffs are invalidated, there are alternative ways to advance his trade agenda.Trump did not expect this decisionTrump has expressed increasing frustration with the Supreme Court in recent weeks. Several people familiar with the matter said he privately complained that the court was taking too long to deliver its decision. He also repeatedly speculated about the justices' decision.A source familiar with the matter told CNN that Trump had at one point said he did not expect the Supreme Court to strike down the tariffs because the stakes were too high. However, officials within the Trump administration were quietly preparing for defeat and told Trump that even if the court ruled against him, other legal avenues remained available to enforce the trade measures.A Major Setback for Trump's Trade PolicyWhile the US Supreme Court's decision on tariffs is a significant setback for Trump's trade strategy, his statements indicate that the administration intends to move quickly to explore alternative options to keep its economic agenda on track.read more:- US 10% global tariffs; India impacted in deal
US Imposes 10% Global Tariff; India to Pay Under Trade DealThe United States has announced a 10% global tariff, which India is expected to pay under its trade agreement with Washington. A White House official confirmed the tariff “will remain until another authority is invoked,” urging all trade partners to honor existing deals.The move follows a U.S. Supreme Court ruling (6–3) that Donald Trump’s administration exceeded its powers by using the International Emergency Economic Powers Act (IEEPA) to impose broad import duties. In response, Trump called the verdict a “terrible decision” and announced an executive order under Section 122 of the Trade Act of 1974, authorizing temporary surcharges of up to 15% for 150 days to address balance-of-payments issues.Trump said existing Section 232 (National Security) and Section 301 (Unfair Trade) tariffs remain in place. He criticized the Court for being “swayed by foreign interests” and argued the ruling benefits other countries.The Supreme Court’s decision invalidated billions in emergency tariffs, potentially requiring $130–175 billion in refunds. Markets reacted positively, expecting lower inflationary pressure, though optimism was tempered by Trump’s vow to reimpose levies.Trump affirmed that “the India deal is on,” indicating that bilateral tariff adjustments—such as reducing reciprocal rates to 18%—will continue under new legal authority.read more:- CCI keeps cotton prices stable, online auction continues
CCI keeps cotton prices stable, weekly online auction continuesThe Cotton Corporation of India (CCI) recorded total weekly sales of 2,700 cotton bales during the ongoing 2025–26 season, reflecting selective buying interest from mills and traders during the current week.Daily Sales Report 16 February 2026:Mills were the only active participants, purchasing 1,500 bales, while trader participation remained nil. Total sales for the day stood at 1,500 bales.17 February 2026:No transactions were recorded in either the mills or trader session.18 February 2026:Trading activity shifted to the trader segment, which lifted 1,200 bales. Mills did not purchase anything on this day. Total sales were 1,200 bales.19 & 20 February 2026:Both sessions witnessed no buying activity, resulting in zero sales.Cumulative sales :Following the latest auctions, CCI’s total sales reached:3,93,300 bales for the 2025–26 season, and98,82,400 bales for the 2024–25 season.read more:- The rupee closed 38 paise lower against the dollar at 90.98
On Friday, the Indian rupee closed at 90.98 against the dollar, compared to its opening rate of 90.60.At close, the Sensex was up 316.57 points or 0.38 percent at 82,814.71, and the Nifty was up 116.90 points or 0.46 percent at 25,571.25. About 1842 shares advanced, 2167 shares declined, and 153 shares unchangedread more :- Strong future for the cotton spinning industry by 2033
Cotton Spinning Market Poised for Robust Expansion Through 2033The latest report from Coherent Market Insights, titled “Cotton Spinning Market: Trends, Share, Size, Growth, Opportunities, and Forecast 2026–2033,” presents an in-depth assessment of the global cotton spinning industry. This comprehensive study offers valuable insights into key market dynamics, including growth drivers, challenges, regional trends, and the competitive landscape.The report features detailed analyses supported by tables, charts, and figures, highlighting the significant expansion of the cotton spinning market in recent years. Growth has been propelled by rising product demand, a broadening consumer base, and continuous technological innovation across the textile value chain.Key areas covered include market size and segmentation, industry trends, competitive positioning, and future growth prospects. The study also evaluates major developments such as mergers and acquisitions, partnerships, product innovations, and marketing strategies adopted by leading industry playersThe report provides a comprehensive view of the market’s performance across major regions—North America, Europe, Asia-Pacific, South America, the Middle East, and Africa—analyzing production, consumption, and revenue trends. Both historical data and forward-looking projections (2026–2033) are included to offer a complete understanding of market evolution in terms of value and volume.In addition, the analysis explores key macroeconomic influences, regulatory frameworks, and technological advancements shaping the sector. With rising sustainability concerns and digital transformation in textile manufacturing, the global cotton spinning market is expected to experience substantial growth momentum through 2033read more:- Rupee opens 30 paise down at 90.94
Rupee opens 30 paise lower at 90.94/USD Indian rupee opened lower at 90.94 per dollar on Friday versus previous close of 90.67.read more:- Gujarat made a big increase in the textile budget.
India's Gujarat state raises textile outlay by 38% in Budget for FY27India’s western state of Gujarat has announced a sharp increase in financial outlay for the textile sector, with allocation under the Development of Textile Industry scheme rising to ₹2,755 crore (~$302.71 million). The higher outlay signals a strong push to sustain Gujarat’s leadership in textile manufacturing while strengthening export competitiveness and MSME participation.State Finance Minister Kanubhai Desai presented the State Budget for fiscal 2026–27 in the Legislative Assembly on Wednesday in Gandhinagar. The allocation under the Development of Textile Industry scheme has increased from ₹2,000 crore in 2025–26 and ₹2,036.47 crore in 2024–25, reflecting a significant year-on-year expansion in subsidy-driven industrial support.The scheme is expected to facilitate capacity expansion, technology upgradation and investment promotion across the textile value chain. Alongside industrial support, the Budget continues provisions for cottage, handloom and small-scale textile ecosystems through grants, subsidies and institutional assistance, covering cooperative manufacturing, training and research support, and export facilitation for smaller producers.Artisan-focused measures also feature prominently. Financial assistance to the Gujarat State Handicraft Development Corporation has been increased to ₹48.05 crore ($5.27 million) for 2026–27 from ₹41.86 crore in the previous year, aimed at strengthening market access and institutional support. A further ₹23 crore ($2.53 million) has been earmarked for design competitions, exhibitions and promotional initiatives to enhance product innovation and visibility in the handicraft segment.To support export-oriented industries, including textiles and apparel, the Budget proposes establishing the Gujarat State Export Promotion Council with an allocation of ₹5.90 crore (~$6.48 million) to facilitate export development and market expansion. In addition, provisions enabling handloom and handicraft stakeholders to leverage e-commerce platforms indicate an emerging focus on digital market access and diversification.Overall, the Budget underscores a dual strategy of scaling industrial textile investment through a higher core outlay while sustaining traditional and MSME segments through targeted support, export facilitation and digital market initiatives.Ashish Gujarati former President of the Southern Gujarat Chamber of Commerce and Industry (SGCCI) commented on the budget, “The increase in textile allocation from ₹2,000 crore to ₹2,755 crore reflects the State’s continued commitment to implementing the Gujarat Textile Policy and supporting sector growth.” He added that the proposed formation of the Gujarat Export Promotion Council is a positive step that is expected to facilitate higher exports of MSME products by strengthening market access and institutional support.read more:- Central and state budgets to boost MSMEs
*"The Union and State Budgets will strengthen Bhilwara's textile industry," said Riju Jhunjhunwala, who stated that manufacturing exports and MSMEs will receive a boost.*Riju Jhunjhunwala of the RSWM Bhilwara Group expressed his gratitude to the Prime Minister for the Union Budget 2026–27. He described the budget as growth-oriented, encouraging manufacturing, empowering small and medium-sized enterprises, and boosting exports.Jhunjhunwala stated that Bhilwara, recognized as a major textile hub in the country, will directly benefit from this budget. Technology upgrades, the use of modern machinery, infrastructure expansion, transportation improvements, and a special emphasis on skill development will further strengthen textile units here. This will increase production capacity, improve global competitiveness, and create new employment opportunities.He stated that the budget provisions will encourage new investment in Bhilwara. Value addition, the use of green energy, and increased export opportunities will provide new direction and momentum to the local industry.Rajasthan Budget Also PraisedRiju Jhunjhunwala also praised the Rajasthan Budget presented by Deputy Chief Minister and Finance Minister Diya Kumari. He stated that the state budget focuses on infrastructure, industrial development, and strengthening connectivity, which will strengthen the industrial ecosystem in Bhilwara and the entire state.Expressing gratitude to Chief Minister Bhajan Lal Sharma and the state leadership, he said that the current government's efforts have created a positive industrial environment in the state.He expressed confidence that the coordinated efforts of the central and state governments will make Bhilwara's textile sector even stronger and more competitive not only nationally but also globally. read more:- There is no legal guarantee on MSP, the committee will find a middle path.
*The committee is preparing to find a middle ground, not a legal guarantee of MSP; members exert pressure*Several members of the MSP Committee, formed by the central government, have advocated for a system in which farmers receive the Minimum Support Price (MSP) both inside and outside the market. Currently, government and cooperative procurement agencies purchase crops at MSP in the market if the quality of the crop meets the prescribed standards, but this system is not applicable outside the market, i.e., for the private sector. Instead of a system such as a legal guarantee of MSP, the committee members are trying to find a middle ground so that their image among farmers is not tarnished. This was revealed at the committee meeting held in New Delhi on Wednesday.*All meetings have been inconclusive so far*Since the committee's formation on July 22, 2022, seven meetings have been held. Additionally, 35 sub-committees of the committee have met, but its members have not yet reached any conclusions. This is the first meeting of the committee since the formation of the new central government in 2024. The next meeting will be held in March.The committee's members, appointed by farmers' organizations, want to prepare a report and submit it to the government as soon as possible, as the committee has been formed for a long time. Meanwhile, the Kisan Jagriti Yatra of the Samyukta Kisan Morcha (non-political) is underway, demanding a legal guarantee for MSP.*Increased Pressure on MSP*However, the committee's meeting, held after a long time, was chaotic because most of the bureaucrats involved did not want the MSP system to be implemented outside the market. In fact, the officials do not have to go among the farmers to answer, but the farmer leaders have to go among the farmers and the public.Therefore, they do not want to do anything that would lead to criticism from farmers or the general public. Therefore, they are very cautious on the issue of MSP, as it is a very sensitive issue for farmers. Natural farming and crop diversification were also discussed throughout the day-long meeting, but the issue of MSP dominated.The five committee members who had recently pressured the chairman to declare a reserve price for crops remained firm on this issue. They stated that the MSP, which the government itself determines, should be available to farmers both inside and outside the market. It remains to be seen whether the committee chairman will agree with the members or take a different stance.*When and why was the committee formed?*The announcement of the MSP committee regarding MSP was made on November 19, 2021, alongside Prime Minister Narendra Modi's repeal of three controversial agricultural laws. However, the protesters sitting on the Delhi border wanted something in writing. Subsequently, on December 9, 2021, the then Agriculture Secretary, Sanjay Agarwal, issued a letter to farmer organizations, after which the protesting farmers returned to their homes from the Delhi border.Nearly eight months after this announcement, the notification for the formation of the committee came on July 12, 2022. However, the government appointed the same Sanjay Agarwal as the chairman of this committee, during whose tenure as Union Agriculture Secretary, three agricultural laws were introduced and a 13-month-long farmers' movement was carried out.read more :- Maharashtra CM writes to Centre on cotton crisis
Cotton Procurement: Maharashtra CM Urges Centre to Extend MSP Buying Period for FarmersMaharashtra Chief Minister Devendra Fadnavis has urged the Central Government to extend the procurement period for cotton under the Minimum Support Price (MSP) scheme, citing concerns over potential losses to farmers across the state.In a letter addressed to Union Textiles Minister Giriraj Singh, Fadnavis requested an extension of the procurement window being carried out by the Cotton Corporation of India (CCI) for the 2025–26 cotton season. Currently, CCI has set February 27, 2026, as the last date for MSP-based procurement. However, the Chief Minister noted that a significant quantity of farmers’ cotton still remains unsold in Maharashtra.Risk of price crash in open marketThe Chief Minister warned that if government procurement ends as scheduled, cotton prices in the open market could decline sharply. This would lead to substantial financial losses for farmers who are still holding their produce. He emphasized that extending procurement until April 30, 2026, would help stabilize prices and give farmers sufficient time to sell their crop at fair rates.Demand for extended procurement till AprilFadnavis has requested the Union Ministry of Textiles to direct the Cotton Corporation of India to continue MSP procurement until the end of April 2026. He said this step is crucial to safeguard the interests of cotton growers in Maharashtra amid ongoing market uncertainty.MSP rates for 2025–26 seasonFor the Kharif Marketing Season 2025–26, the Central Government has fixed MSP at ₹7,710 per quintal for medium staple cotton and ₹8,110 per quintal for long staple cotton.Concerns over import policy impactThe Chief Minister also highlighted that policy decisions allowing duty-free cotton imports till December 31, 2025, had increased pressure on domestic prices. He noted that increased inflow of foreign cotton, combined with tariff relaxations, has adversely impacted local farmers despite MSP support.Fadnavis stressed that while MSP procurement provides some relief, failing to extend the buying period could once again force farmers to sell their produce at lower market prices, deepening their financial stress.read more :- Despite India-US agreement, exports remain sluggish
India-US trade agreement: decline in exports even after agreementDespite the agreement on trade agreement between India and America, India's exports to America registered a decline of 21.77% in January, which came down to $6.6 billion. The slight increase in total exports was possible due to market diversification.India's total exports in January increased by 0.61% to $36.56 billion, while imports increased by 19.2% to $71.24 billion. Due to sharp increase in imports, trade deficit increased to 34.68 billion dollars.The US had imposed 50% tariff on Indian products from August 2025, which also included an additional 25% duty. Later under the agreement the additional duty was removed and the reciprocal tariff was reduced to 18%, providing relief to Indian exporters.India's exports to the US grew by 5.85% to $72.46 billion in the April-January period, while imports increased by 13.87% to $43.92 billion. However, a decline was also seen in some months.Amidst the weakness in the US market, India turned towards China and other countries. There was a sharp increase in exports to China, but imports also remained high, due to which the trade deficit remained. Experts believe that market diversification can improve the situation in future.read more :- Cotton market sluggish in Jalgaon, production less than target
Slowdown in Jalgaon cotton market, only half of target production achievedJalgaon: This year, due to heavy rains in Kharipat, less cotton production, less price received from traders etc., cotton was sold in less quantity in the market. Stopping of sale of cotton in the market for the last eight days indirectly shows that the cotton season is over. The price of cotton with private traders is Rs 7,200 per quintal. CCI has also stopped purchasing cotton from the centres. Due to lack of cotton in the market, the production of bales by ginners has also stopped.Till now CCI has purchased three lakh bales of cotton. Traders purchased enough cotton to produce three to three and a half million bales. Till now a total of 6 lakh 50 thousand bales have been produced. Lumps will form within a few days. That would be one lakh. This season, ginning drivers have set a target of 15 lakh bales. Only six and a half lakh bales could be produced.It is estimated that one lakh bales of cotton will be produced from the cotton available with the ginners. If we look at the overall situation, out of 15 lakh, only seven and a half lakh bales will be produced. Farmers are not bringing cotton due to the fall of 500 to 600 rupees in cotton prices by traders since last month, the arrival of cotton at CCI centers has also reduced. Due to poor quality of incoming cotton, procurement has stopped and ginners are in trouble.4 million bales of cotton were imported into India as the central government adopted a cotton import policy to avoid a potential cotton crisis on the country's textile mills and industries. Import was only 10 lakh bales per year. However, on the other hand, ginning operators will also produce bales in the country. Ginning drivers expected Khandesh to produce 2 million bales. However, the cotton import policy this year has had no impact on Indian cotton. Farmers did not sell as much cotton as they wanted, in hopes that the price would rise.According to the price guaranteed by the Central Government by CCI, Rs 8 thousand 100. Cotton was purchased. However, cotton which had higher moisture content was bought at a lower price, with traders offering rates of Rs 7,600 to Rs 7,700 depending on the quality of the cotton. This is also now 7,200 to 7,400 and farmers are selling less cotton.There is no fair price for exportBefore the cotton import policy, cotton fetched a price of Rs 55,000 to Rs 56,000 per khandi (two bales). Its rates came down to Rs 52 to 53 thousand per khandi. Therefore, since there will be no export of cotton, the price of Indian cotton will remain low.Ginners suffered losses this year due to low arrival of cotton. The price of cotton with traders was Rs 7200 to 7500. However, they also lacked quality. Due to lack of price, purchases from traders stopped. In such a situation, the ginning industry is in trouble due to stoppage of bale production. Till now six and a half lakh bales have been made, one lakh more bales will be ready.- Pradeep Jain, President, Khandesh Ginning Pressing Mill Owners Association.read more :- Rupee fell 02 paise to close at 90.67 per dollar
The Indian rupee on Wednesday lower 02 paise to close at 90.67 per dollar, while it opened at 90.65 in the morning.At close, the Sensex was up 283.29 points or 0.34 percent at 83,734.25, and the Nifty was up 93.95 points or 0.37 percent at 25,819.35. About 2135 shares advanced, 1902 shares declined, and 172 shares unchanged.read more :- 2026 Cotton Outlook: Dwindling stocks support prices
2026 Cotton Outlook: Economic pressure remains but declining stocks may support pricesMEMPHIS, Tennessee – Economists at the National Cotton Council point to some key reasons why the U.S. Will decide the cotton industry's economic outlook for 2026.Overall, by 2025 U.S. The cotton industry had another difficult year due to low prices, high production costs and weak demand. As the 2026 season approaches, farmers are facing difficult decisions about planting as current prices remain below the cost of production. Although worldwide cotton demand is expected to recover in 2026, potential changes in trade policy have created considerable uncertainty in the global cotton market.The outlook for the worldwide cotton market will, to some extent, be determined by continued growth in economic activity. Steady to slow economic growth is expected for the next two years.In her analysis of the results of the NCC's annual Planting Intentions Survey, Dr. Jody Campich, NCC's vice president of economics and policy analysis, said the NCC estimates that the U.S. will grow more than 100,000 acres of land in 2026. Cotton area will be 9.0 million acres in 2025, which is 3.2 percent less than 2025. Survey results Reflecting the economic condition of cotton growers, who are now facing their fourth year of poor market returns.Compared to average futures prices during the first quarter of 2025, all commodity prices were lower during the 2026 survey period, but cotton declined the most. Because of this, the price ratio of cotton compared to corn and soybean was lower than in 2025.Harvested area in the Cotton Belt is projected to reach 7.1 million acres by 2026, including the U.S. The crop abandonment rate is 21.3 percent. Using state level average yields, the cotton crop was 12.7 million bales, including 12.3 million upland bales and 393,000 ELS bales.U.S. Mills are expected to use 1.55 million bales in 2026, compared to 1.60 million bales in 2025. U.S. There is pressure on textile manufacturing.For the 2026 marketing year, worldwide consumption is projected to increase 1.0 percent to 120.0 million bales. U.S. production by 2025 due to projected increases in world consumption and lower world production. Export estimates are high. With higher export projections, the U.S. The end stock is estimated to decline to 3.5 million bales in 2026.World production is projected to decline to 114.1 million bales in 2026 due to reduced harvested acreage and lower yields, Campich said. With consumption increasing in the main importing countries, world trade is projected to grow to 44.6 million bales in 2026. For the 2026 marketing year, ending stocks will decline to 69.8 million bales due to lower production coupled with higher world consumption and trade. If that happens, it would be the lowest level of world end stocks outside China since 2016.If world consumption can overcome headwinds from a sluggish global economy and cheap man-made fibre, prices could provide some support from dwindling stocks on balance sheets to 2026.U.S. And current economic projections for the global economy should be viewed with caution given rising geopolitical tensions and the potential impact of changes in trade policy. U.S. The cotton industry is an export-oriented industry, both for raw fiber as well as cotton yarn and fabric, and tariff policies can significantly alter the trade environment.read more :- Tamil Nadu Textile Policy 2025-26 launched, budget of ₹1,943 crore
| title | Created At | Action |
|---|---|---|
| 10% global tariff from February 24 | 21-02-2026 19:14:23 | view |
| Gujarat's textile budget rises to $302 million | 21-02-2026 18:57:52 | view |
| Court decision on tariffs, Trump's Plan B | 21-02-2026 18:45:46 | view |
| US 10% global tariffs; India impacted in deal | 21-02-2026 18:19:39 | view |
| CCI keeps cotton prices stable, online auction continues | 21-02-2026 00:24:54 | view |
| The rupee closed 38 paise lower against the dollar at 90.98 | 20-02-2026 22:55:52 | view |
| Strong future for the cotton spinning industry by 2033 | 20-02-2026 19:51:51 | view |
| Rupee opens 30 paise down at 90.94 | 20-02-2026 17:48:41 | view |
| Gujarat made a big increase in the textile budget. | 19-02-2026 22:35:17 | view |
| Central and state budgets to boost MSMEs | 19-02-2026 22:17:03 | view |
| There is no legal guarantee on MSP, the committee will find a middle path. | 19-02-2026 19:11:25 | view |
| Maharashtra CM Seeks Extension of Cotton MSP Procurement Period | 19-02-2026 18:57:31 | view |
| Despite India-US agreement, exports remain sluggish | 19-02-2026 00:27:36 | view |
| Cotton market sluggish in Jalgaon, production less than target | 19-02-2026 00:12:14 | view |
| Rupee fell 02 paise to close at 90.67 per dollar | 18-02-2026 22:42:08 | view |
| 2026 Cotton Outlook: Dwindling stocks support prices | 18-02-2026 18:59:04 | view |
