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On Friday, the Indian rupee closed at 96.56 against the US dollar, up by 7 paise.The rupee opened at 96.63 per dollar. After fluctuating throughout the day, it higher 8 paise to close at 96.56 per dollar.At close, the Sensex was down 331.62 points or 0.43 percent at 76,059.77, and the Nifty was down 102.15 points or 0.43 percent at 23,767.45. About 2050 shares advanced, 1961 shares declined, and 196 shares unchanged.read more :- US Cuts Proposed Tariff on Indian Goods Linked to Forced Labor to 10%

US Reduces Proposed Tariff on Indian Goods Made Using Forced Labor from 12.5% to 10%The US has reduced the proposed tariff on certain products imported from India from 12.5% to 10%. This decision follows measures taken by India to curb the import of goods produced using forced labor.Washington lowered the final tariff rate for India after reviewing imports of products made wholly or partially using forced labor. An additional import duty of 10% will now apply to the affected products.This announcement is part of US President Donald Trump's new trade policy, under which new tariffs have been imposed on imports from several trading partners. The Trump administration alleges that certain countries have failed to effectively enforce regulations prohibiting the import of goods made using forced labor.According to the White House, additional tariffs ranging from 10% to 12.5% will be imposed on products from these countries. A 12.5% tariff will apply to China, the UK, and Japan, while a rate of 10% has been set for India, Cambodia, Guatemala, Honduras, Sri Lanka, Trinidad and Tobago, and the European Union.According to the US administration, these countries and regions have taken steps or made commitments to prevent the import of goods produced using forced labor.However, certain import categories—such as products covered under the US-Mexico-Canada Agreement (USMCA) and oil and gas—will remain exempt from these new tariffs.The new tariffs have come into effect following the expiration of the temporary 10% import duty previously imposed by the Trump administration. This change has been implemented under the US's revised trade regime.READ MORE :- New Subsidy Scheme for Cotton Farmers in Maharashtra: Up to ₹75,000 Assistance

New Subsidy Scheme for Cotton Farmers in MaharashtraJalgaon: The Agriculture Department has launched a significant scheme for cotton farmers under the 'Cotton Productivity Mission 2026-27'. The initiative aims to minimize post-harvest losses, ensure better utilization of cotton stalks, and promote modern technology and mechanization in farming. Under the scheme, eligible farmers will receive attractive subsidies for purchasing biochar units and cotton shredders. District Superintendent Agriculture Officer Kurban Tadvi has urged farmers to apply online promptly via the MahaDBT portal.The scheme places special emphasis on producing biochar from cotton residues to increase soil carbon content and improve fertility. Farmers will receive a subsidy covering 50% of the total cost or a maximum of ₹10,000 (whichever is lower) for purchasing a biochar unit. This will not only ensure better management of agricultural waste but also help reduce production costs and promote sustainable farming.Additionally, financial assistance will be provided for purchasing cotton shredder machines, which cut cotton stalks into small pieces. Farmers belonging to Scheduled Castes (SC) and Scheduled Tribes (ST) will receive a subsidy of 50% of the machine's cost, up to a maximum of ₹75,000. Meanwhile, farmers from the general category will receive assistance of 40%, up to a maximum of ₹60,000. The scheme applies to individual farmers as well as farmer groups, Farmer Producer Companies (FPOs), and agricultural cooperative societies.The Agriculture Department has clarified that beneficiaries for both schemes will be selected on a 'first-come, first-served' basis; therefore, eligible farmers should not delay their applications. However, availing a bank loan is mandatory to benefit from the scheme, as the subsidy is loan-linked. Furthermore, farmers who have previously received a subsidy for the same equipment under any other government scheme will not be eligible for this scheme. For further information regarding the application process or the scheme, farmers can contact the office of their respective Taluka Agriculture Officer.READ MORE :- Rupee Opens 6 Paise Lower at 96.63 Against Dollar.

The rupee opened lower at 96.63/$.On Friday, the Indian rupee opened 6 paise lower at 96.63 against the dollar, compared to its previous close of 96.57 on Thursday.The Sensex was down 536.31 points or 0.70 percent at 75,855.08, and the Nifty was down 258.85 points or 1.08 percent at 23,610.75.READ MORE :- Indian Rupee weakens by 08 paise against US Dollar, closes at 96.57

The rupee opened at 96.49 against the US dollar and depreciated by 08 paise to settle at 96.57 at the close of trade.At close, the Sensex was down 363.66 points or 0.47 percent at 76,391.39, and the Nifty was down 126.65 points or 0.53 percent at 23,869.60. About 1569 shares advanced, 2479 shares declined, and 155 shares unchanged.read more :- ₹8,118 Crore Invested Under Textile PLI Scheme; Gujarat Leads States

₹8,118 Crore Invested Under Textile PLI Scheme; Gujarat Emerges as Top StateThe Production Linked Incentive (PLI) scheme, launched to strengthen the country's textile sector and enhance its global competitiveness, is now yielding rapid results. According to the Ministry of Textiles, actual investment worth ₹8,117.64 crore has been recorded under the scheme so far. Additionally, the scheme has generated 33,427 new employment opportunities.The government has approved a total of 170 companies under the textile PLI scheme. These projects are expected to bring in a proposed investment of approximately ₹41,533 crore, generate an estimated turnover of ₹2.75 lakh crore, and create 367,427 jobs. The scheme aims to boost domestic production, attract foreign investment, and establish India as a major hub for textile manufacturing.The technical textiles segment has witnessed the highest level of interest from companies. Approvals have been granted to 89 companies in this sector, with a projected investment of ₹27,832 crore. These projects are likely to generate a turnover of ₹1.69 lakh crore and create around 120,205 employment opportunities.In the Man-Made Fiber (MMF) apparel segment, 43 companies have received approval. This sector anticipates a committed investment of ₹7,613 crore and an estimated turnover of ₹64,435 crore. Meanwhile, 38 companies have been approved in the MMF fabric segment, with projected investments of ₹6,087 crore and the creation of 32,557 jobs.In terms of state-wise performance, Gujarat has taken the lead. The state secured approvals for 46 companies—the highest number in the country—and attracted investments worth ₹1,903.38 crore through various companies. Subsequently, states such as Karnataka, Goa, Tamil Nadu, and Madhya Pradesh have also demonstrated remarkable performance.However, actual investment has not yet been recorded in Punjab, West Bengal, and Odisha. The pace of investment in Uttar Pradesh has also remained limited. Despite this, the textile PLI scheme is proving to be a significant initiative for boosting manufacturing capacity, creating jobs, and steering the industry in a new direction.READ MORE :- Tamil Nadu Showcases Textile Strength at Bharat Tex 2026, Eyes New Investment and Export Opportunities

Tamil Nadu’s Strong Presence at Bharat Tex 2026: Focus on Textile Investment and InnovationTamil Nadu effectively showcased its strong position as a leading textile hub of the country at Bharat Tex 2026, held in New Delhi. On this global platform, the state highlighted its vast textile industry, export potential, investment opportunities, and future prospects in the technical textiles sector.Over 30 textile and apparel manufacturers from Tamil Nadu participated in this international event. Numerous significant meetings took place with industry representatives, investors, and foreign buyers during the fair. Bharat Tex 2026 saw a large turnout of domestic visitors alongside approximately 6,000 foreign buyers, opening up new business opportunities for the Indian textile industry in the global market.K.M. Subramanian, President of the Tirupur Exporters Association, stated that Bharat Tex is poised to evolve into a major international trade platform. He noted that textile manufacturers from Tirupur received positive feedback from foreign buyers, raising hopes for securing new export orders in the future.During the event, a Memorandum of Understanding (MoU) was signed between the Southern India Textile Research Association (SITRA) and The Woolmark Company. The objective is to promote research and the development of new types of fabrics using wool-cotton blends. This initiative will assist Tamil Nadu's textile industry in expanding into new fibers and modern product segments.State Industries Minister P. Keerthana and Textiles and Handlooms Minister M. Vijay Balaji participated in the fair and held discussions with investors. According to the government, investors have been identified for approximately 300 acres of land at the PM MITRA Textile Park in Virudhunagar, and several major proposals are likely to be finalized soon.The Tamil Nadu government is implementing special schemes to boost the technical textiles sector. Plans are in place to provide capital subsidies of up to approximately 50 percent to industries investing in this sector. The state currently holds a share of approximately 8 percent in technical textiles, and a target has been set to increase this figure.More than 400 visitors visited the Tamil Nadu pavilion. Departmental officials delivered presentations on the state's textile value chain and investment opportunities. Tamil Nadu's participation in Bharat Tex 2026 further strengthened the state's global profile and paved the way for new partnerships in the textile, handloom, and technical textile sectors.READ MORE :- Pre-Season Cotton Crop Thrives in Khandesh, Rainfall Deficit Raises Concerns

Pre-season cotton crop thriving in Khandesh; rainfall deficit raises concernsThe pre-season (early-sown) cotton crop in Maharashtra's Khandesh region, planted during the last week of May and early June, is growing rapidly. Farmers have timely completed initial agricultural tasks such as weed control, intercropping, and fertilizer management. However, the lack of rainfall is affecting the cotton crop in rain-fed (dryland) areas.While the total area under cotton cultivation in Khandesh has decreased this year compared to previous years, many farmers have continued to cultivate the crop as per tradition. Farmers have observed that under low-rainfall conditions, irrigated cotton crops perform better in the fertile black soil found along rivers like the Tapi, Girna, Aner, and Panjra.The absence of heavy downpours and the lack of continuous light rain during June and July gave farmers ample time for crop management. Tasks such as intercropping, herbicide spraying, and fertilizer application were completed on schedule. Consequently, the cotton crop is showing good growth in many areas; in some places, the plants have already reached a height of about two feet. Even in areas with light to medium soil, the condition of the irrigated cotton crop remains satisfactory. Many farmers have also completed two rounds of spraying to prevent pest infestations.Focus on intercropping and fertilizer managementMany farmers have completed two rounds of intercropping in their cotton fields. These agricultural activities were accelerated in anticipation of potential rainfall. Additionally, the first dose of chemical fertilizers has been applied to the fields. In some black-soil areas, the cotton plants are likely to flower early, while soil moisture levels remain adequate.Increased use of herbicides for weed controlThere is a continued demand for farm labor for weed control in many villages across Jalgaon district, with daily wages reaching around ₹200 in some areas. However, the weed problem has diminished in several regions due to the reduced cotton acreage this year and the increased use of herbicides. The growth of fresh grass and vegetation in the fields has also been limited due to the lack of rainfall.Rise in Urea DemandThe demand for urea has surged as the application of fertilizers to the crops has commenced. Urea requirements remain high in irrigated areas due to the robust growth of the cotton crop, yet its availability is limited in many places. Consequently, farmers are planning to apply the second basal dose after approximately 60 days. Farmers believe that if weather conditions remain favorable, the cotton crop could continue to thrive.READ MORE :- Brazilian Cotton Prices Decline in Mid-July Despite Improved Export Parity

Brazilian Cotton Prices Decline in Mid-July Despite Improved Export ParityCotton prices in the Brazilian market saw a decline in mid-July. Although export parity improved during this period—narrowing the gap between domestic and export prices—sluggish buying by the domestic textile industry and concerns regarding the quality of available cotton stocks kept the spot market under pressure. Consequently, prices softened.According to the Center for Advanced Studies on Applied Economics (CEPEA) at the University of São Paulo, buyers faced difficulties accepting the quality of certain cotton batches. Meanwhile, weak sales of finished textile products led mills to adopt a cautious approach toward new purchases. Due to subdued demand, some buyers offered lower prices, placing additional pressure on the spot market.In the meantime, cotton producers focused on harvesting and fulfilling previously agreed-upon forward contracts. Some producers were keen to sell remaining stocks from the 2024/25 season, while others held firm on their asking prices. This dynamic maintained a balance between market availability and buying interest, resulting in limited spot trading activity.Brazil's National Supply Company (Conab) has raised its cotton production forecast for the 2025/26 season to 4.06 million tonnes. This represents a 2.05 percent increase over the previous estimate, though it is 0.5 percent lower than the production forecast for the 2024/25 season. The average yield is projected at 2,011 kilograms per hectare, with the cotton cultivation area expected to be 2.02 million hectares—a year-on-year decline of 3.2 percent.Separately, according to the US Department of Agriculture's (USDA) July report, global cotton production for the 2026/27 season is projected at 25.53 million tonnes. This is 1 percent higher than the previous estimate but 3.8 percent lower compared to the 2025/26 season. The report raises production estimates for both Brazil and the US by approximately 3 percent. However, production in both countries is projected to remain below the levels seen in the previous season.READ MORE :- China’s Cotton Imports Surge Nearly Threefold in June 2026

China’s Cotton Imports Surge Nearly Threefold in June 2026China’s cotton imports recorded an exceptional rebound in June 2026, with shipments rising almost three times compared with the same month last year. According to the General Administration of Customs, China imported around 110,000 tonnes of cotton in June, marking a 294.9% year-on-year increase. For the first half of 2026, cumulative imports reached 940,000 tonnes, up 102.2% from a year earlier.Import values also climbed sharply. June imports were worth RMB 1.36 billion, a 244.7% increase, while January–June imports totaled RMB 10.97 billion, up 75.8% year-on-year. Brazilian and U.S. cotton remained the dominant sources of supply.Industry participants said the strong June performance was largely expected. Part of the increase reflects a very low base in June 2025, when China imported only 27,400 tonnes, an 82.3% decline from the previous year.However, three additional factors drove the surge. First, ICE cotton futures fell sharply twice in June, pushing imported cotton prices below those of Xinjiang cotton held in inland warehouses and making foreign supplies more attractive to Chinese mills and traders.Second, disruptions linked to the Middle East conflict affected textile and garment production in parts of Southeast Asia, prompting some export orders for Europe, the United States, Japan, and South Korea to shift to China’s coastal manufacturing hubs, including Guangdong, Jiangsu, Zhejiang, Fujian, and Shandong.Third, concerns over possible changes in U.S. Section 301 tariffs and the risk of a broader China–EU trade dispute encouraged Chinese exporters to accelerate shipments during May and June. The timing also coincided with major Western retailers building inventories for the second half of the year, supporting continued growth in China’s imports of cotton and cotton yarn.READ MORE :- Bayer Launches Trance Insecticide for Cotton Farmers to Control Sap-Sucking Pests

Bayer Launches New Insecticide 'Trance' for Cotton Farmers; Offers Effective Protection Against Sap-Sucking PestsBayer has announced the launch of 'Trance,' a new insecticide designed for cotton farmers. The company claims the product has been developed to effectively control major sap-sucking pests such as aphids, jassids, and whitefly nymphs. Based on two distinct and complementary modes of action, this insecticide offers comprehensive crop protection while helping to improve crop health, increase yields, and boost farmers' income.According to the company, cotton farmers in India face significant challenges due to simultaneous attacks by multiple sap-sucking pests, increasing pest resistance to insecticides, and a lack of effective yet affordable solutions. These issues hinder crop growth, reduce production, and drive up cultivation costs. 'Trance' has been developed specifically to address these challenges.Bayer states that the product operates on a dual-action mechanism. It spreads within the plant through systemic movement while also exerting an effect across the leaf surface via translaminar action. This ensures protection for both existing foliage and new plant growth. The company notes that the formulation remains effective even after rainfall and begins to show results within approximately two hours of application. Additionally, it can be easily integrated into Integrated Pest Management (IPM) programs.'Trance' will be available starting July 2026 across major cotton-producing states, including Maharashtra, Gujarat, Madhya Pradesh, Tamil Nadu, Kerala, Rajasthan, Karnataka, Andhra Pradesh, Telangana, Punjab, Haryana, and West Bengal. It will be launched in pack sizes of 100 ml, 220 ml, and 500 ml. Mohan Babu, Chief Operating Officer of Bayer CropScience (India), stated that farmers are facing an escalating challenge from sap-sucking pests and the issue of increasing pest resistance. In this context, 'Trance' offers two distinct modes of action in a single solution, enabling effective and long-lasting pest control. He added that the product would assist farmers in improving crop quality, boosting yields, and enhancing profitability.The company states that with the launch of 'Trance', it is further strengthening its crop protection portfolio. This science-based innovation will help farmers achieve higher yields, ensure better resource utilization, and promote sustainable agriculture.READ MORE :- Early Pink Bollworm Activity Detected in Haryana, Cotton Farmers Advised Scientific Monitoring