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In relation to the US dollar, the Indian rupee opened flat at 86.63.Indian rupee opened almost flat at 86.6338 against the US dollar, as compared to 86.6250 at previous close against the greenback.The Economic Survey for 2024-25 will be tabled before both the Houses of Parliament on January 31, the first day of the Budget Session, presenting the Finance Ministry's view on the state of the economy.Read More :- India Budget 2025-26: Will demands of textile industry be addressed?

Will the textile industry's expectations be met in the 2025–2026 Indian budget?India's apparel and textile industry is grappling with complex challenges that Finance Minister Nirmala Sitharaman will have to address in her budget speech on February 1. While Sitharaman will present her eighth consecutive budget, a big question is whether she will accept the many demands and recommendations of industry leaders? Industry bodies are urging the minister to consider their proposals, stressing the urgency of these challenges.Rajiv Gupta, CEO, RSWM Ltd, hoped, “There are several recommendations to improve the viability and cost competitiveness of the industry. First, raw material prices in India are much higher than global rates as Indian companies deal with QCOs (quality control orders) on MMF (man-made fibres) and yarns. These non-tariff barriers restrict the free flow of raw materials, resulting in shortages of specialty yarns and fibres, which in turn impacts local prices. Therefore, the Centre should liberalise import policies to ensure a more competitive market for raw materials and reduce or eliminate customs duties on MMF fibres and chemicals critical in the production of raw materials. Since specialty cotton (such as organic and contamination-free varieties) is imported due to domestic unavailability, import duties imposed to protect local farmers are hurting textile value chains. “The cotton procurement scheme under MSP (minimum support price) should be replaced with a DBT (direct benefit transfer) programme,” Gupta added. This will provide more liquidity to cotton farmers as they can sell the produce without waiting for official procurement. Price volatility also needs to be addressed by creating a Cotton Price Stabilisation Fund, which will ensure competitive availability of raw material. An extended loan limitation period of eight months (instead of three months) for cotton procurement and an interest waiver scheme can also prevent price volatility. The industry ultimately seeks the suspension of Section 43B(h) of the Income Tax Act, 1961." Siddharth Dungarwal, founder of clothing brand Snitch, said, "The apparel and retail industry is a key contributor to India's economy, and we are optimistic that the upcoming Union Budget will address some of the critical challenges faced by the sector. We expect measures that simplify operations, encourage sustainable manufacturing, and help local brands and retailers expand globally. Policies such as tax rationalisation, investments in technology upgradation and incentives to develop a future-ready workforce can enable businesses like ours to drive innovation, create jobs, improve customer experience and strengthen India's position as a global fashion and retail hub.Pallav Bihani, CEO and Founder, Boldfit, said, “India's fitness and activewear market is growing at an incredible pace and as health becomes a lifestyle priority for millions, this budget is an opportunity to give the textile industry a real boost. Activewear has become a core part of the fitness culture, but there is still a lot of untapped potential in terms of domestic manufacturing and sustainable innovation.The combination of innovation, sustainability and affordability can truly define what the Indian textile and fitness industry can achieve together. Anand Iyer, CEO of retail brand Arrow, said, “We are optimistic about the government's continued commitment to foster economic resilience and growth. This is a critical moment to prioritise policies that foster innovation, enhance ease of doing business and strengthen consumer confidence. At Arrow, we are committed to honouring our legacy while evolving to meet the ever-changing needs of today's consumers. We eagerly look forward to the opportunities this budget will create for our business and the industry. We hope the upcoming budget will bring initiatives that will drive retail growth and simplify business operations."read more :- Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.

Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.At close, the Sensex was up 226.85 points or 0.30 percent at 76,759.81, and the Nifty was up 86.40 points or 0.37 percent at 23,249.50. About 2051 shares advanced, 1734 shares declined, and 117 shares unchanged.read more :- Textile Industry seeks curbs on underbilled Chinese imports, duty-free cotton

The textile industry wants to stop duty-free cotton and underpriced Chinese imports.New Delhi, Jan 30 : The textile industry, a key pillar of India’s economy, has high expectations from the upcoming Budget, seeking policy support to address pressing challenges. Contributing nearly 4% to the country’s GDP, 13% to industrial production, and 8% to total merchandise exports, the sector remains India’s largest industrial employer, providing direct employment to 4.5 cr people.Industry leaders are calling for simplified compliance processes, incentives for sustainable and digital initiatives, and enhanced support for MSMEsOne of the key concerns is the high cost of Indian cotton following the 11% customs duty imposed on cotton imports in 2021. According to the Northern India Textile Mills Association (NITMA), this has widened the gap between domestic and international cotton prices, making cotton spinning operations unviable in India. With international cotton prices consistently lower over the past two years, the industry is urging the government to abolish the customs duty on cotton imports and allow duty-free procurement to mitigate the financial strain on domestic manufacturers.Another major challenge faced by the textile industry is the rampant under-invoicing of knitted fabrics, especially from China. Industry estimates suggest that this malpractice results in an annual revenue loss of nearly ?5,000 crore to the exchequer, while also causing severe damage to domestic textile businesses. The industry has expressed concerns over the rise of a parallel economy due to the large-scale sale of undervalued imports and has urged the government to implement a permanent solution to curb under-invoicing.The RoDTEP (Remission of Duties and Taxes on Exported Products) scheme, which has been extended until September 30 under the Advance Authorisation scheme until December 31, 2024, is another key focus for industry stakeholders. To meet the ambitious target of USD 350 billion in total revenue by 2030, including USD 100 billion in textile exports, the industry is advocating for an extension of the RoDTEP scheme until September 2025 and the restoration of RoDTEP rates for textile products.At present, the Production-Linked Incentive (PLI) scheme applies exclusively to synthetic fibres. However, industry representatives argue that PLI benefits should be extended to the entire textile sector, including cotton-based products, to encourage investment and promote overall growth.With the Budget around the corner, textile manufacturers and industry associations are hopeful that their demands will be met, ensuring sustainable growth and competitiveness in the global market.read more :- Rupee falls 2 paise to 86.57 against US dollar in early trade on Thursday.

Against the US dollar, the rupee drops 2 paise to 86.57 in early Thursday trading.The rupee depreciated 2 paise to 86.57 against the US dollar in early trade on Wednesday, due to sustained foreign fund outflows, unabated dollar demand from oil importers and weak risk appetite.At the interbank foreign exchange, the rupee opened at 86.57 then fell further to 86.58 against the American currency, registering a decline of 2 paise over its previous close.read more :- The Indian rupee on Wednesday closed 2 paise marginally higher at 86.55 per dollar, as against 86.57 per dollar open on morning .

After opening at 86.57 per dollar this morning, the Indian rupee closed 2 paise higher at 86.55 per dollar on Wednesday.At close, the Sensex was up 631.55 points or 0.83 percent at 76,532.96, and the Nifty was up 205.85 points or 0.90 percent at 23,163.10. About 2874 shares advanced, 937 shares declined, and 96 shares unchanged.read more :- Khargone's cotton industry is breaking down, traders have high expectations from the Finance Minister in the budget

The cotton business in Khargone is collapsing, and traders are expecting the Finance Minister to deliver a budget that meets their expectations.Khargone Cotton Industry: The budget is going to be presented in the Parliament, for which the industrialists associated with the industry have demanded from the Finance Minister of the Central Government to make a detailed plan for the cotton industry. So that the dying industries of cotton can get a lifeline. Our correspondent discussed with the industrialists doing cotton business regarding the budget.Madhya Pradesh Cotton Association President Kailash Agarwal says that there is a demand for cotton not only in the country but also abroad. Cotton crop is grown in 2 lakh hectares in Madhya Pradesh and the fiber of the cotton here is good. There is also a demand for this cotton, but the industries are breaking down due to taking GST RCM advance.Finance Minister needs to pay attentionCotton trader Narendra Gandhi said that if seen at present, not only the ginning industry of Nimar region but the whole country is going through a lot of crisis. Because of the global recession and our industry is very troubled. We want Finance Minister Sitharaman to pay attention in the budget on how to promote the cotton industry.Cotton factories are closing downIn the last few years, many factories of the cotton industry have also closed down. This situation is getting worse. He has expressed hope that there should be a policy so that the country's textile and cotton industry can operate smoothly.Appeal to the government to remove RCMFor the last two or three years, it has been seen that the cotton industry is closing down and the government is not paying attention. If seen in GST, the cotton industry is also very upset with RCM in GST. We have to pay GST on the purchase price of cotton.Requesting for five yearsWe have requested the government many times, but no attention has been paid to it for five years. In this budget, it is expected that the Finance Minister will think about RCM and remove it. This is the intense demand of our cotton industry.Cotton prices are fallingCotton trader Kalyan Agarwal said that he is having some expectations regarding the general budget. He says that cotton is planted in a very large area in Khargone. Cotton is our main crop. The price of cotton has fallen in the world, the price of cotton has fallen. Due to increase in its SP for two consecutive years, cotton has started getting imported from abroad.read more :-Indian Rupee opens 4 paise lower at 86.57 against US Dollar

In relation to the US dollar, the Indian rupee opens 4 paise weaker at 86.57.The rupee fell 4 paise to close at 86.57 against the US dollar in early trade on Wednesday on sustained foreign fund outflows, falling dollar demand from oil importers and weak risk sentiment.At the interbank foreign exchange, the rupee opened at 86.57 and later fell further to 86.61 against the American currency, marking a decline of 4 paise from its previous close.read more :- Indian rupee ended 20 paise lower at 86.53 per dollar on Tuesday versus Monday's close of 86.33.

The Indian rupee closed Tuesday at 86.53 per dollar, 20 paise less than Monday's close of 86.33.At close, the Sensex was up 535.24 points or 0.71 percent at 75,901.41, and the Nifty was up 128.1 points or 0.56 percent at 22,957.25. About 1116 shares advanced, 2429 shares declined, and 84 shares unchanged.read more :- Cotton dropped as CAI has revised upwards its crop projections by 2 lakh bales

Cotton fell as CAI increased its harvest forecasts by two lakh bales.Cotton candy prices fell 0.83% to ₹52,850 as the Cotton Association of India (CAI) raised crop estimates for the 2024-25 season. Estimated cotton production rose by 2 lakh bales to 304.25 lakh bales due to higher production in Telangana, where estimates rose by 6 lakh bales. However, production in North India is expected to fall by 3.5 lakh bales, down 43% from last year, due to lower arrivals of cotton. The WASDE report has also put pressure on prices, which estimated global cotton production for 2024-25 at 117.4 million bales, an increase of 1.2 million bales each due to higher production in India and Argentina. Despite pressure from higher supply estimates, the downside momentum was limited due to strong demand from the apparel industry, which has pushed up cotton yarn prices in South India. Exports are also expected to increase, which will support the demand. As of December, total supply stood at 176.04 lakh bales, including imports of 12 lakh bales and opening stocks of 30.19 lakh bales. Consumption during this period was 84 lakh bales, while exports are estimated at 7 lakh bales. December ending stocks are estimated at 85.04 lakh bales.Long liquidation is going on in the market, with open interest declining by 29.07% to 122 contracts. Cotton candy prices are finding support at ₹52,480, below this level, it is likely to touch ₹52,110. Resistance is seen at ₹53,450, and a move above this is likely to touch ₹54,050 levels.read more :- The rupee opened 17 paise down on January 28 following a surge in the dollar index.

On January 28, the rupee opened 17 paise lower after the dollar index surged.The local currency opened at 86.50 against the dollar but slipped to 86.55. It ended at 86.33 against the dollar in the previous session.The rupee depreciated 11 paise to close at 86.33 (provisional) against the US dollar on Monday, as strong dollar demand and a muted trend in domestic equities weighed on investors' sentiments.read more :- Indian rupee ended 13 paise lower at 86.33 per dollar on Monday versus Friday's close of 86.20.