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Rupee strengthens by 6 paise against the US dollar to open at 96.29On Friday, the Indian rupee opened 6 paise higher against the dollar at 96.29, compared to its previous close of 96.35 on Thursday.Stock Market Live Updates: Indian equity benchmarks saw a tepid open on Friday as traders assess US-Iran tensions. At the open, Sensex was up over 200 points while Nifty gained 50 points.read more :- Andhra Pradesh Secures ₹4,100 Crore Textile Investment Commitments at Bharat Tex 2026

Andhra Pradesh Secures Investment Commitments Worth ₹4,100 Crore for Textile Sector at 'Bharat Tex 2026'New Delhi: Andhra Pradesh has secured investment commitments totaling ₹4,100 crore for textile projects at the 'Bharat Tex 2026' event. Two Memorandums of Understanding (MoUs) were signed on the second day of the event, held at Bharat Mandapam in New Delhi.These agreements were executed under the supervision of G. Rekha Rani, the Commissioner of Handlooms and Textiles for Andhra Pradesh. This initiative is part of the state government's efforts to attract investment and strengthen the textile and garment industry.One of the agreements proposes the establishment of a sustainable textile recycling facility in Visakhapatnam with an investment of up to ₹4,000 crore. The second agreement involves setting up a garment manufacturing unit with an investment of ₹100 crore. This unit is expected to generate direct and indirect employment for approximately 3,000 people.Meanwhile, Union Textiles Minister Giriraj Singh inaugurated the 'Lepakshi Handicrafts' stall. The stall showcases Andhra Pradesh's rich handloom heritage, handicrafts, textile capabilities, and investment potential. Organized by the Union Ministry of Textiles, the 'Bharat Tex 2026' event will continue until July 17.Rajya Sabha member V. Vijayendra Prasad visited the Andhra Pradesh pavilion and remarked that the state's handloom sector holds significant potential in international markets. He emphasized the need to adopt new technologies, such as Virtual Reality (VR), to enable skilled weavers to connect directly with global buyers.He also highlighted the growing demand for authentic, handcrafted, and culturally significant products among the Indian diaspora and foreign customers, particularly in the United States. He stated that Andhra Pradesh is well-positioned to emerge as a major global sourcing hub for handloom and textile products.Pasupuleti Hari Prasad, Chairman of the Lepakshi Handicrafts Development Corporation, commended the Department of Handlooms and Textiles for showcasing Andhra Pradesh's traditional handloom heritage alongside its modern textile and garment industry. He noted that under the leadership of Chief Minister N. Chandrababu Naidu, the state government is committed to accelerating the sector's growth through investment-friendly policies and infrastructure development. The Andhra Pradesh pavilion in Hall No. 9 displays a range of handloom, textile, fabric, and garment products. It also features GI-tagged and 'One District One Product' (ODOP) items from organizations and textile parks such as Guntur Textile Park, Tarkeshwar Textile Park, Harish Fashions, APCO, and Magic Weaves.Representatives from the Apparel Export Promotion Council (AEPC) also expressed interest in collaborating on awareness and capacity-building programs regarding exports for textile MSMEs.Officials stated that the state's participation in 'Bharat Tex 2026' is expected to attract new investments, strengthen export ties, and enhance access to global markets. Andhra Pradesh is home to over 15,000 textile MSMEs, more than 140 large textile units, and approximately 35,000 power looms, with textile exports valued at around US$ 444 million.READ MORE :- India-UK Trade Pact Comes Into Effect, Boosts Exports and Lowers Import Costs

India-UK Trade Pact Begins: Cheaper Imports, Bigger Export OpportunitiesIndia and the United Kingdom have officially implemented their Comprehensive Economic and Trade Agreement (CETA), marking a major milestone in bilateral economic relations. The agreement, effective from Wednesday, eliminates or reduces tariffs on thousands of products, making several goods cheaper while opening new opportunities for businesses and professionals in both countries.Under the pact, the UK has removed duties on nearly all Indian exports, giving sectors such as textiles, leather, footwear, marine products, gems and jewellery, engineering goods, chemicals and processed foods duty-free access to the British market. Indian spices, fruits and vegetables are also expected to become more competitive in the UK.For Indian consumers, imported British products including whisky, chocolates, cosmetics, soft drinks, lamb, premium automobiles, medical devices and optical equipment are set to become more affordable as tariffs are reduced in phases.The agreement also strengthens trade in services by boosting opportunities in IT, financial services, healthcare, education, engineering and consultancy. Indian professionals temporarily working in the UK will be exempt from paying National Insurance contributions for up to five years.According to the UK government, India will reduce or eliminate tariffs on 90% of tariff lines, while Britain has removed duties on 96.8% of tariff lines covering 97.7% of existing trade. However, sensitive sectors such as poultry, eggs, sugar and dairy remain outside the scope of the agreement.The India-UK trade pact is expected to deepen investment, expand market access and strengthen economic cooperation, making it one of the most significant bilateral trade agreements between the two nations in recent years.READ MORE :- US Tariff Talks, Rising Shipping Costs Challenge Indian Textile Exporters

US Tariff Talks and Rising Shipping Costs Pose Challenges for Indian Textile ExportersIndian textile and garment exporters are currently facing uncertainty due to tariff negotiations with the US and escalating geopolitical tensions in West Asia. While demand remains stable, global buyers are avoiding large, long-term orders until there is clarity regarding trade policy. Instead, to mitigate risk, they are placing smaller, frequent orders—a shift that could increase operational costs and complexity for Indian exporters.Discussions scheduled for later this month regarding the potential US tariff framework are considered crucial for the industry. Until the trade policy situation becomes clear, investors should closely monitor companies that derive a significant portion of their business from the US market.Rising Cotton Prices Put Pressure on MarginsRaw material costs play a pivotal role in the profitability of the textile industry. After remaining stable for a period, cotton prices have surged again. As of July 14, 2026, the spot price for benchmark 29mm cotton in Gujarat stood at approximately ₹65,000 per candy, while 28mm cotton was priced at ₹64,200 per candy.Cotton futures prices on the Intercontinental Exchange (ICE) in the international market have also risen, recording an increase of over 6% during the second week of July. The sustained rise in raw material costs, coupled with the inability to pass this increased burden on to customers, could exert pressure on companies' profit margins.Dependence on raw materials varies across different segments of the textile sector. Home textile companies rely primarily on cotton, whereas garment manufacturers depend more heavily on synthetic fibers like polyester. Consequently, fluctuations in the prices of cotton and petrochemical-based raw materials can impact these companies differently. Geopolitical Tensions Heighten Logistics RisksEscalating tensions in West Asia are raising concerns regarding shipping costs and supply chains. Regional instability could drive up freight charges and increase the risk of delivery delays. While some companies pass a portion of logistics costs on to buyers through Free-on-Board (FOB) terms, the rising costs of packaging and synthetic materials could impact the entire industry.The US is a key export market for Indian textile products, with bilateral textile trade valued at approximately $10.5 billion. However, industry experts note that Indian textile companies' overall reliance on the US market is limited, accounting for roughly 8–10% of total revenue.Hopes Pinched on UK and EU Trade DealsLooking ahead, the Indian textile industry is eyeing potential trade agreements with the UK and the EU. These agreements could enhance market access and cost competitiveness for Indian companies. However, industry management believes the full benefits of these initiatives may only become visible by the fourth quarter of FY27.Investors should monitor export volumes, US tariff negotiations, raw material prices, and logistics costs, alongside the companies' ability to maintain profit margins in the period ahead.READ MORE :- Cotton, Maize and Soybean Crops Face Threat as Erratic Rainfall Distresses Pachora Farmers

Cotton, Maize, and Soybean Crops at Risk in Pachora; Farmers Distressed by Erratic RainfallPachora (Maharashtra), July 16: Cotton, maize, and soybean crops in the Pachora taluka of Maharashtra's Jalgaon district are being affected by erratic rainfall. Farmers are increasingly concerned due to a prolonged dry spell following the initial rains at the onset of the *Mrig Nakshatra*. There are fears of stunted crop growth and a significant decline in yields.Cotton is the primary cash crop in Pachora taluka. Many farmers had sown cotton between mid-May and early June with high hopes. However, the long gap in rainfall following the initial showers has hampered crop growth. Apart from cotton, maize and soybean crops are also suffering due to the lack of rain.The average annual rainfall in the taluka is 743.47 millimeters. Last year, the region recorded approximately 125% of the normal rainfall. In contrast, only 161.6 millimeters of rain has been recorded up to the beginning of July this year. Due to the scanty rainfall, rivers and canals in the taluka have not yet received adequate water.The shortage of water in local sources has directly impacted irrigation. Many wells have dried up. Despite having drip irrigation facilities in their fields, farmers are unable to provide sufficient water to the cotton crop because the wells lack water. The lack of rain has caused the grass on farm bunds to dry up, and many crops are on the verge of withering.However, rainfall in some areas has brought some relief to farmers and accelerated agricultural activities. Farmers are busy with tasks such as weeding, applying chemical fertilizers, and spraying pesticides.These activities are also providing employment to farm laborers in rural areas. Currently, female laborers are earning around ₹300 for a shift from 8 AM to 1 PM, while male laborers are receiving approximately ₹500 per day in wages. Farmers say that if there is no adequate and regular rainfall in the coming days, cotton, maize, and soybean crops could be severely affected.RAED MORE :- Maharashtra Kharif Sowing Reaches 60% of Normal Area, Trails Last Year

Kharif sowing in Maharashtra reaches 60% of normal acreage; lags significantly behind last yearMumbai, July 15: Kharif crop sowing in Maharashtra had covered 86.92 lakh hectares by July 13. According to state government data, this represents approximately 60% of the normal Kharif sowing area (excluding sugarcane). However, the pace of sowing is significantly slower compared to the same period last year.By July 13 last year, Kharif crops had been sown across 120.65 lakh hectares in the state, accounting for nearly 84% of the normal area. A substantial shortfall in sowing acreage has been recorded so far this year.Crop damage due to heavy rainsAccording to preliminary assessments by the Maharashtra government, heavy rains, strong winds, and hailstorms in July have damaged 6,673 hectares of agricultural and horticultural crops across the state.However, the government reports that sowing activities are now picking up pace in several districts. Farmers in areas affected by heavy rains have begun re-transplanting paddy. Meanwhile, crops sown earlier are currently in the germination and early growth stages.Kharif sowing slow across the countryKharif crop sowing across the country is lagging behind last year's figures due to a weak southwest monsoon. According to the Ministry of Agriculture and Farmers Welfare, Kharif crops had been sown across 531.25 lakh hectares nationwide by July 10, compared to 632.69 lakh hectares during the same period last year. Consequently, there has been a decline of approximately 16% in sowing acreage at the national level.Paddy acreage dropped to 114.69 lakh hectares from 125.53 lakh hectares last year. Oilseed acreage also declined from 149.18 lakh hectares to 117.83 lakh hectares; within this category, soybean acreage fell from 107.72 lakh hectares to 90.51 lakh hectares. In contrast, the sugarcane acreage increased from 56.72 lakh hectares to 57.58 lakh hectares, and the area under jute and mesta rose from 6.16 lakh hectares to 6.28 lakh hectares.Cotton sowing also lagged behind last year's figures. As of July 10, the cotton acreage in the country stood at 79.54 lakh hectares, whereas it was 93.95 lakh hectares during the same period last year.READ MORE :- Rupee Falls 10 Paise, Closes at 96.35 Against US Dollar

On Thursday, the Indian rupee opened at 96.25 against the US dollar and closed at 96.35, marking a decline of 10 paise for the trading session.At the close, the Sensex was up 1.44 points at 77,186.87, while the Nifty was down 5.75 points (or 0.02 percent) at 24,072.75. Approximately 1,947 shares advanced, 2,119 shares declined, and 194 shares remained unchanged.READ MORE :-  Agriculture Minister Optimistic Kharif Sowing Deficit Will Be Covered by August 15

Agriculture Minister Expects Kharif Sowing Deficit to be Covered by August 15New Delhi: Agriculture Minister Shivraj Singh Chouhan said on Wednesday that the shortfall in the area sown with Kharif crops could be made up, as the sowing season continues until August 15. He stated that the government is closely monitoring the monsoon and the progress of sowing.Speaking to reporters on the sidelines of a conference organized by the Indian Council of Agricultural Research (ICAR), Chouhan said there is still sufficient time for Kharif sowing. He said, "Kharif sowing takes place up to August 15. Rainfall was deficient in June, but there has been good rainfall in the first week of July. There is a possibility of good rainfall after July 20 as well."He noted that the total area sown with crops up to July 10 in the current Kharif season is lower compared to the same period last year. However, he expressed hope that sowing would pick up pace in the coming days and the deficit in acreage would be covered.Chouhan stated that the central government is continuously monitoring the situation and efforts are being made to ensure the timely availability of seeds, fertilizers, and other essential agricultural inputs to farmers. When asked if the sowing deficit could be bridged through improved sowing activity, he said, "There is a possibility. I am very hopeful."According to data from the Ministry of Agriculture, the total area sown with Kharif crops up to July 10 stood at 531.25 lakh hectares, down 15.93 percent from 631.88 lakh hectares during the same period last year.The acreage for oilseeds declined by 21 percent to 117.83 lakh hectares. Within this category, the area under soybean fell by 16 percent to 90.51 lakh hectares.Cotton sowing is also lagging. As of July 10, the cotton acreage stood at 79.54 lakh hectares, a decline of 15.33 percent from the 93.95 lakh hectares recorded during the same period last year. Sowing of Kharif crops usually begins in June with the arrival of the southwest monsoon. However, sowing has been affected this year due to a weak monsoon. Sowing is expected to pick up pace with an improvement in rainfall in the coming days.READ MORE :- ndian Rupee Opens Steady at 96.25 Against US Dollar

The rupee opened steady at 96.25/$.On Thursday, the Indian rupee opened steady at 96.25 against the US dollar, whereas it had closed at 96.25 the previous day.The BSE Sensex opened at 77,388.42, higher than its previous close of 77,185.43, while the NSE Nifty50 opened at 24,142.10, compared with Wednesday’s close of 24,078.50.READ MORE :- The rupee settled 08 paise lower at 96.25 against the US dollar.

On Wednesday, the Indian rupee opened at 96.17 against the US dollar and settled at 96.25, ending the trading session 08 paise lower. The NSE Nifty 50 closed 0.11 per cent or 26.45 points higher at 24,074.85, while the BSE Sensex rose 0.17 per cent or 130.49 points to end at 77,185.43.Read more :- Cotton Prices Rise as Lower Sowing Area and Global Rates Support Market

Cotton prices rise due to reduced cultivation area and higher global pricesIndian cotton prices have strengthened amidst a surge in global rates and concerns over reduced cultivation acreage caused by scanty rainfall. According to recent data from the Ministry of Agriculture, the area under cotton cultivation has dropped by 15 percent to 79.54 lakh hectares (lh) as of July 10, down from 93.95 lakh hectares previously.Over the past two days, the Cotton Corporation of India (CCI) has raised its prices by ₹800 per candy (356 kg), while demand from both mills and traders remains robust.Ramanuj Das Boob, a sourcing agent in Raichur, said, "Market supply is low, and prices in New York have also risen; futures prices on the ICE have climbed from around 75-76 cents per pound to approximately 81-82 cents." He added, "Uncertainty regarding the upcoming crop due to the delayed monsoon is impacting the market." He further noted that the CCI is witnessing strong demand, with sales of 1.2 lakh bales on Monday and 1.5 lakh bales on Tuesday.Das Boob mentioned that multinational companies are also offloading their stocks, with their prices running about ₹1,000 per candy higher than the CCI's rates.He further stated that the cotton crops that have already sprouted require rainfall. "There is a lack of rain in parts of Karnataka and Telangana where sowing has already taken place. If it doesn't rain now, it could lead to difficulties," he said.Atul Ganatra, Chairman of the Crop Committee at the Cotton Association of India (CAI)—the apex body for the cotton trade—remains optimistic about cotton prospects despite concerns over deficient rainfall. He said, "El Niño will not impact the cotton crop. In fact, it will help increase the cotton sowing area. Lower rainfall will result in better yield, quality, and quantity."Ganatra stated, "Cotton sowing has been completed on approximately 8 million hectares so far, compared to 8.6 million hectares during the same period last year. Sowing will exceed 10 million hectares by July 25, as almost all cotton-growing regions have received good rainfall. Farmers are rapidly sowing cotton due to the current lull in the rains." In South India, the cotton acreage this year is 20 percent higher than last year. Ganatra added, "Due to the delayed rainfall, farmers are left with cotton sowing as their primary option. Consequently, total cotton sowing is expected to reach 12.5–13 million hectares, an increase of about 10–15 percent over last year."Ready AvailabilityGanatra noted that large mills are purchasing cotton at ₹64,000, even though they already hold stocks sufficient for 3–4 months. He said, "Since they had purchased at lower rates earlier, they are buying at current prices as well to average out their costs." Major Indian mills hold cotton stocks sufficient until November, with some holding supplies lasting until December 31.Rajkot-based broker Anand Popat stated in his weekly newsletter that overall cotton availability in India remains robust. However, premium-quality cotton is relatively scarce, and a significant portion of the available stock is held by the CCI and multinational trading companies. Popat remarked, "This could keep cotton prices firm for the remainder of the season."Daily cotton arrivals have dropped to approximately 7,000–8,000 bales. He stated that demand from spinning mills remains steady, while a gradual improvement in yarn demand has been observed in both domestic and export markets.READ MORE :- Rain Revives Narma Crop in Muklawa, Farmers Expect Better Yield