Recent News

Trump Says Tariff Deadline 'Not 100% Firm' Amid Fresh Trade ThreatsU.S. President Donald Trump reignited trade tensions on Monday (July 7, 2025), threatening steep tariffs on over a dozen countries, including key allies Japan and South Korea — but then signaled potential flexibility on the August 1 deadline to finalize deals.In letters posted on Truth Social, Trump said suspended tariffs would snap back in three weeks, with Tokyo and Seoul facing 25% duties and other countries, including Indonesia, Bangladesh, Thailand, South Africa, and Malaysia, hit with tariffs ranging from 25% to 40%.However, Trump left the door open for negotiations. “I would say firm, but not 100% firm,” he told reporters at a dinner with Israeli Prime Minister Benjamin Netanyahu. Asked whether the letters were final, he added, “If they call with a different offer, and I like it, then we’ll do it.”The tariffs stem from Trump’s April 2 “Liberation Day” announcement, which introduced a baseline 10% duty on all imports, with higher rates later suspended for 90 days. Those tariffs were set to take effect Wednesday, but Trump signed an order delaying them until August 1.In near-identical letters to Japanese and South Korean leaders, Trump cited a lack of “reciprocal” trade and warned against retaliation. Indonesia will face a 32% tariff, Bangladesh 35%, and Thailand 36%. Laos and Cambodia saw lower rates than initially threatened.The administration has pledged “90 deals in 90 days” but has finalized only two — with the UK and Vietnam — alongside a de-escalation pact with China.Japan’s Prime Minister Shigeru Ishiba called the tariffs “genuinely regrettable.” South Korea’s National Security Adviser Wi Sung-lac met with U.S. counterpart Marco Rubio, pushing for a summit to resolve key issues. Thai acting PM Phumtham Wechayachai said he was seeking a “better deal” than the proposed 36% duty. Malaysia’s trade ministry reiterated its commitment to a “balanced, mutually beneficial” agreement.White House Press Secretary Karoline Leavitt said Trump chose Japan and South Korea first because “it’s the president’s prerogative.”U.S. Treasury Secretary Scott Bessent promised more agreements soon: “We are going to have several announcements in the next 48 hours.”Markets reacted negatively to the renewed tariff threats. The Nasdaq fell 0.9%, and the S&P 500 dropped 0.8%.Trump also warned of a further 10% tariff on countries aligning with BRICS, accusing them of “anti-American policies” following criticism of his trade agenda at a recent summit.Still, partners are pushing to avoid the looming tariffs. The European Commission said EU chief Ursula von der Leyen had a “good exchange” with Trump in a call Sunday.read more :-  Rupee Gains 06 Paisa, Closes at 85.69 Against Dollar

The Indian rupee on tuesday higher 06 paise to close at 85.69 per dollar, while it opened at 85.75 in the morning.At close, the Sensex was up 270.01 points or 0.32 percent at 83,712.51, and the Nifty was up 61.20 points or 0.24 percent at 25,522.50. About 1,779 shares advanced, 1,840 shares declined, and 97 shares were unchanged.read more :- US tariffs slow gains, textile stocks rise

Textile stocks jump after US tariffs weaken Bangladesh's leadTextile stocks rose 1.57% after the US imposed a 35% tariff on Bangladeshi exports, raising it to 20%, reducing their competitive edge in the US market.Ginni Silk Mills (up 20%), Alok Industries (up 15%), Siyaram Silk Mills (up 10.17%), Donier Industries (up 7%), Shiva Texyarn (up 7%), Raymond Lifestyle (up 6.2%), Vardhman Textiles (up 5.4%), Trident (up 3.8%), Gokaldas Exports (up 2.6%), Welspun Living (up 1.6%), KPR Mill (up 1.57%) jumped.Though the new rate is slightly lower than April's 37%, it is still well above the 10% baseline and opens a window of opportunity for Indian exporters.Vietnam also faces hefty duties, with 20% on direct exports and 40% on transshipped goods imposed under the new US trade agreement. Currently, India faces duties of up to 26% due to different product categories, but a pending US-India trade deal could reduce this.Bangladesh and Vietnam have a large share in the US apparel market, so there is scope for India's share to grow, especially if more favourable terms are found in the upcoming trade deal.For the time being, sentiment remains positive for Indian apparel manufacturers, who are well positioned to benefit from the shift in global trade dynamicsread more :- Implementation of QCO for cotton bales postponed to August 2026

Cotton Bale QCO extended till August 2026The Bureau of Indian Standards (BIS) has postponed the implementation of Quality Control Order on cotton bales to August 2026 from August this year.The Cotton Bales (Quality Control) Order, 2023 has been amended to implement the order from August 27, 2026.Industry sources said the textile industry, which is the main consumer of cotton, has welcomed the decision of the Central government to postpone implementation of Quality Control Order on cotton bales.However, it should withdraw the Quality Control Order for cotton as the Bureau of Indian Standards (BIS) specifications for cotton bales do not have norms for contamination levels permitted for cotton. The contamination levels are high in Indian cotton and the industry imports high quality cotton that is contamination free. The cotton growers in other countries will not go in for BIS certification.Further, overseas garment brands are nominating the raw material suppliers now and the Indian textile industry sources substantial quantity of cotton or yarn from the nominated suppliers. They will miss the orders as these suppliers will not have BIS registration.Since there are several practical challenges in implementing the order, the government should withdraw it, they said.read more:- Rupee Rises 11 Paise to 85.75 Against Dollar

Indian rupee opens 11 paise higher at 85.75 against US dollarThe local currency opened at 85.75 against the US dollar, as compared to 85.86 during the previous trading session.read more :- Manjhi Spotlights MSME, Credit Surge in FY25

Indian Minister Manjhi highlights MSME growth and credit growth in FY 2025Indian MSME Minister Jitan Ram Manjhi has highlighted the rapid progress made by the micro, small and medium enterprises (MSME) sector. He was addressing a press conference in Mumbai on July 4, 2025, after review visits to IDEMI and Khadi and Village Industries Commission (KVIC) offices on July 3.Describing MSMEs as the second largest contributor to India's economy, Manjhi said the sector contributes 30.1 per cent to the country's GDP, 35.4 per cent to manufacturing and 45.73 per cent to exports. The minister shared that over 3.80 crore units are now registered on the Udyam portal that enables paperless registration for MSMEs, the Ministry of Micro, Small and Medium Enterprises said in a release.Additionally, over 2.72 crore units have been registered on the Udyam Sahayata portal launched to formalise informal micro enterprises. These 6.5 crore MSMEs have together generated employment for 28 crore people. He said the number of MSME units has increased fifteen-fold in the last five years.Highlighting government assistance schemes, Manjhi said the Pradhan Mantri Employment Generation Programme (PMEGP) has facilitated employment to 80.33 lakh individuals, of which 80 per cent of the beneficiaries are in rural India. Under the Credit Guarantee Scheme, over 1.18 crore guarantees worth ₹9.80 lakh crore ($117.6 billion) have been approved so far, with a record ₹3 lakh crore ($36 billion) of credit guarantees extended in fiscal year 2025 (FY25) alone. The number of beneficiaries is expected to triple by 2029.He said the case backlog on the MSME Samadhaan portal, designed to resolve issues of delayed payments, has come down from 93,000 in October 2017 to 44,000 currently.The minister also lauded entities like KVIC, Coir Board and National Small Industries Corporation Ltd for promoting small industries and contributing to GDP and exports. He reaffirmed the government's commitment to empower artisans through initiatives like the PM Vishwakarma Yojana, which provides end-to-end support to 18 traditional businesses.read more :- Kharif 2025: Maize, Cotton Gain in Karnataka; Pulses Lag

Kharif 2025 update: Maize, cotton continues to gain area in Karnataka, pulses trails.Acreages under pulses are trailing in Karnataka, where farmers are seen expanding the area under maize and cotton this kharif cropping season.As per the latest crop sowing data, a total of 50.57 lakh hectares (lh) has been covered under various kharif crops till July 5, accounting for some 61 per cent of the targeted area of 82.50 lh for the kharif 2025 cropping season. Rainfall during the period of June 1- July 5 was surplus 4 per cent at 252 mm against the normal of 241 mm across the State.Among cereals, maize has been the biggest gainer with acreages touching 13.98 lh, up 14.6 per cent over same period last year’s 12.20 lh. The maize acreages are 68 per cent higher than the normal for the period of 8.32 lh. Other cereals such as paddy, jowar, bajra, ragi and minor millets are trailing their corresponding last year’s levels.Overall pulses area is down 13 per cent over corresponding last year till July 5. Acreages under Tur are down by 21 per cent at 9.88 lh till July 5 over same period last year’s 12.50 lh. However, tur acreages are up 47 per cent over the normal for the period of 6.71 lh.Prevailing bearish trend prices of pulses, due to higher supplies are weighing on the sowing pattern this kharif season as farmers are seen preferring other remunerative crops like maize and cotton.Blackgram area is flat at 0.87 lh, while green gram area has seen a marginal increase at 4.04 lh (3.93 lh in corresponding period last year).Like pulses, even oilseeds acreages are trailing last year’s levels at 5.61 lh (6.18 lh). Groundnut area is down at 1.06 lh (1.46 lh), while soyabean is also marginally lower at 3.94 lh (4.18 lh).However, cotton area is up at 6.11 lh (5.47 lh) and sugarcane at 6.13 lh (5.42 lh). Tobacco area is also seen marginally higher at 0.77 lh (0.74 lh).read more :- Rupee falls 28 paise to close at 85.86

The Indian rupee on monday lower 28 paise to close at 85.86 per dollar, while it opened at 85.58 in the morning.At close, the Sensex was up 9.61 points or 0.01 percent at 83,442.50, and the Nifty was up 0.30 points at 25,461.30. About 1617 shares advanced, 2294 shares declined, and 182 shares unchanged.read more :- Rupee open Declines 19 Paise to 85.58 per Dollar

INR Drops 19 Paise, Opens at 85.58 per USDIndian rupee opened 19 paise lower at 85.58 per dollar on Monday versus Friday's close of 85.39.read more :- CCI Cotton Sales Report: 2024–25 Season Update

CCI Cotton Sales Update for Season 2024-25The Cotton Corporation of India (CCI) has sold approx. 56,46,000 bales of cotton so far in the current season 2024-25. This accounts for 56.46% (approx.) of the total cotton procured this year.The state-wise breakdown of bales sold by CCI mentioned in the above postThis data reflects significant movement in cotton sales, particularly from Maharashtra, Telangana, and Gujarat, which together account for over 85.34% of total sales so far.This data showcases CCI’s active role in stabilizing the cotton market across major producing states.read more :- CCI Weekly Cotton Sales Report

Cotton Corporation of India (CCI) conducted online bidding for cotton bales throughout the week, with the summary of daily sales being as follows:Daily Sales Summary:30 June 2025:The highest daily sales of the week were recorded on this day, with 6,11,000 bales sold — comprising 6,10,800 bales (2024-25) and 200 bales (2023-24). Of these, 2,05,700 bales (including 200 from 2023-24) were sold in the Mills session, and 4,05,100 bales in the Traders session.01 July 2025:A total of 1,25,100 bales were sold — 1,24,900 bales (2024-25) and 200 bales (2023-24). The Mills session accounted for 49,700 bales (including 200 from 2023-24) , and the Traders session for 75,400 bales.02 July 2025:Daily sales stood at 51,700 bales, all from the 2024-25 season, including 16,200 bales in the Mills session and 35,500 bales in the Traders session.03 July 2025:A total of 31,800 bales were sold — 31,600 bales (2024-25) and 200 bales (2023-24). The Mills session contributed 17,400 bales (including 200 from 2023-24) , and the Traders session 14,400 bales.04 July 2025:The week concluded with sales of 82,400 bales from the 2024-25 season, including 23,900 bales in the Mills session and 53,500 bales in the Traders session.Weekly Total:The cumulative sales for the week amounted to approximately 9,02,000 cotton bales, reflecting CCI’s continued focus on efficient digital transactions and active market engagement.SiS is committed to updating you in real time on all textile related news.read more :- Cotton price fall: Question on government