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Rupee Depreciates by 2 Paise to 83.95 vs US DollarThe Indian Rupee depreciated by 2 paise to 83.95 against the US dollar in early trade on Wednesday, weighed down by a muted trend in domestic equities. Experts believe the RBI is intervening to prevent further depreciation.Read More :>IMD Warns of Intense Rainfall in Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra

The rupee closed 3 paise lower at 83.93 against the US dollar this evening.At the close of trading, the BSE Sensex rose marginally by 13.65 points or 0.017 per cent to close at 81,711.76. The NSE's 50-share index, the Nifty, rose just 7.15 points or 0.029 per cent to close at 25,017.75.Read more:- IMD Warns of Intense Rainfall in Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra

In early trade, the rupee drops 7 paise to 83.94 against the US dollar.Rupee depreciated 8 paise to 83.95 against the US dollar in morning trade on Tuesday (August 27, 2024), weighed down by elevated crude oil prices and a muted trend in domestic equities.Stock market starts sluggishly, Sensex near 81700, BPCL top loserThe stock market is witnessing flat trading today on 27 August. The major indices of the market are trading sluggishly. The effect of mixed global signals is visible on the markets. Sensex is trading at the level of 81650 and Nifty at 25000. Read More :>  Attack of leaf wrapping disease on cotton crop

The rupee closed 1 paisa lower at 83.90 against the US dollar this evening.At the close of trading, the BSE Sensex rose 611.90 points or 0.75 per cent to close at 81,698.11. The NSE's 50-share index, Nifty, rose 187.45 points or 0.76 per cent to close at 25,010.60.read more:-India's Textile Exports Set to Reach $65 Billion by 2025-26: Invest India

Disease known as leaf wrapping attacks cotton crops.Uchana. Due to the spread of leaf wrapping disease in cotton crop, farmers are worried about the decrease in c. Due to this disease, insects start attacking the pods of the crop, due to which the cotton inside the pods starts getting spoiled. As a result, the production of the crop can be badly affected. To protect against this disease, farmers have been forced to use expensive sprays and pesticides.Every year, there was an outbreak of pink caterpillar on the cotton crop, but this time its effect is less visible than last year. Farmers Jaibir, Dilbagh, and Birendra said that due to diseases in the cotton crop every year, they have started losing interest in cultivating this crop. This time the leaf wrapping disease has surrounded the crop, due to which they have to spray expensive sprays and pesticides.Farmers have to bear an additional expenditure of Rs 1500 to Rs 2000 per acre. This time the weather has also not been favorable for the crop, and the leaf wrapping disease can have a profound effect on production. Due to less rainfall, this time the crops are falling prey to diseases. Earlier where 15 to 20 maunds of cotton was expected per acre, now due to the disease, it is expected that only 5 to 7 maunds of cotton will be obtained.

IMD Alerts Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra to Severe RainfallThe India Meteorological Department (IMD) has issued warnings for intense rainfall and strong winds across several states, including Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra. On August 26, 2024, the IMD reported that a depression over northwest Madhya Pradesh and adjoining east Rajasthan has intensified into a deep depression. This system is expected to bring heavy to extremely heavy rainfall to parts of these states, as well as to Gujarat, Goa, and Maharashtra, over the next two to three days.As of 11:30 PM on August 25, the deep depression was centered approximately 70 km south-southeast of Chittorgarh, Rajasthan. It is forecasted to move west-southwest, impacting South Rajasthan and Gujarat, and is expected to reach Saurashtra, Kutch, and parts of Pakistan by August 29, according to an IMD update issued at 2 AM.In addition, the IMD noted the presence of another low-pressure area over Bangladesh and adjoining Gangetic West Bengal. This system is likely to intensify and move toward Gangetic West Bengal, North Odisha, and Jharkhand in the next two days.A red alert has been issued for West Madhya Pradesh on August 26, with expectations of heavy to extremely heavy rainfall. Similar weather conditions are forecasted for East and South Rajasthan, Gujarat, Saurashtra, and Kutch from August 26 to 29.Regions including Konkan, Goa, Madhya Maharashtra, Odisha, Gangetic West Bengal, and Jharkhand are also expected to experience heavy to extremely heavy rainfall over the next two days.The IMD has warned of strong winds reaching up to 50 kmph in Madhya Pradesh on August 26 and up to 60 kmph in South Rajasthan from August 26-27. In Gujarat, nearby Pakistan, North Maharashtra, and the northeast Arabian Sea, wind speeds could reach up to 55 kmph on August 26, increasing to 60 kmph on August 27 and 28.Rough to very rough sea conditions are anticipated off the coasts of Gujarat, Pakistan, and North Maharashtra until August 30. Similar conditions are expected in the North Bay of Bengal on August 26.The IMD has advised fisherfolk to avoid venturing into the Arabian Sea and Bay of Bengal, particularly around the coasts of Gujarat, Pakistan, and Maharashtra, until August 30. Small ships and exploration and production operators have been urged to monitor weather developments closely and take necessary precautions.The public is advised to avoid areas prone to waterlogging and check for traffic advisories before traveling. Farmers in affected regions should ensure proper drainage in fields and provide support to crops, as per the IMD's recommendations.The IMD also warned of potential localized flooding, road closures, and waterlogging, particularly in urban areas. There is an increased risk of landslides and damage to horticultural crops due to inundation in the affected regions.read more :- India's Textile Exports Set to Reach $65 Billion by 2025-26: Invest India

Invest India Projects That India's Textile Exports Will Hit $65 Billion by 2025–2026India’s textile industry is poised for significant growth, with exports projected to hit $65 billion by the financial year 2025-26, according to a report by Invest India. This optimistic forecast underscores the robust expansion of the sector, driven by strong demand in both domestic and international markets.In 2022, the Indian textile and apparel market was valued at approximately $165 billion, with the domestic segment contributing $125 billion and exports accounting for $40 billion. The industry is expected to continue its upward trajectory, with projections indicating a compound annual growth rate (CAGR) of 10 percent. By 2030, the total production value for textiles in India—encompassing both domestic consumption and exports—is expected to reach $350 billion.Invest India attributes this rapid expansion to the visionary "fibre-to-fashion" approach championed by Prime Minister Modi. This initiative is not only propelling India’s textile industry onto the global stage but is also enhancing the technological capabilities and competitiveness of domestic players. "PM Modi's bold fibre-to-fashion vision is guiding the textile industry to become a driving force in the global market while bringing competence and technology to local players," Invest India stated in a post on the social media platform X.The growth of India's textile sector is also expected to create significant employment opportunities and contribute to the overall economic development of the country. As the industry continues to evolve, it will likely attract increased investment in innovation, sustainable practices, and advanced manufacturing technologies, further solidifying India's position as a global leader in textiles.read more :- Possibility of pressure on cotton prices, despite decline in area and productivity

Pressure on cotton prices could exist even while production and area are declining.Nagpur: Due to continuous rains, the area under cultivation is decreasing and the increasing incidence of pests and diseases is likely to lead to a decline in the productivity of cotton. Despite this, senior agricultural expert Vijay Javandiha says that there is pressure on the prices of cotton in the US market, due to which the prices of cotton in the Indian market are also expected to remain around Rs 6,500 per quintal.According to Javandiha, currently the price of 'Outlook-A' in the US cotton market is 78.60 cents per pound of cotton (2.2 pounds = 1 kg). About 35 kg of cotton and 64 kg of sardki are obtained from one quintal of cotton. If 79 cents per pound of cotton and Rs 30 per kg of sardki are calculated, then the price of 35 kg of cotton is Rs 5,110 and the price of 64 kg of sardki is Rs 1,920.Thus, the total income of cotton and sarkki is Rs 7,030, from which Rs 6,500 remains after deducting the processing cost of Rs 500. Therefore, cotton prices are likely to remain in the range of Rs 6,500. However, the central government has announced a guaranteed price of Rs 7,500 per quintal for cotton for this season.Given the slowdown in the global market, farmers may get Rs 1,000 less than the guaranteed price, which will require the government to buy cotton at the guaranteed price. Javandhiya has also raised the question that in such a situation, how can the target of doubling the income of farmers be achieved. read more :- Cotton Procurement in Haryana to Begin on October 1 Amid Record CCI Sales This Week

Haryana's October 1st Cotton Procurement Will Start Despite This Week's Record CCI SalesCotton procurement for the Kharif Marketing Season 2024-25 in Haryana is set to commence on October 1, 2024. The procurement will be carried out at the Minimum Support Price (MSP) through the Cotton Corporation of India (CCI), following the guidelines of the Government of India. This comes in a week where CCI recorded exceptionally high sales, signaling strong market activity just ahead of the new procurement season.A review meeting, chaired by the Additional Chief Secretary of the Agriculture and Farmers Welfare Department, Raja Sekhar Vundru, was held to finalize the preparations for the upcoming procurement. Dr. Vundru emphasized the need to extend full support to the Cotton Corporation of India during the process. He assured that both the CCI and the Haryana Government are fully prepared to ensure that farmers can sell their crops without any issues.20 Mandis and Procurement Centers Established for CottonThe meeting also outlined that Haryana produces two varieties of cotton: Medium Long Staple (26.5-27.0 mm) and Long Staple (27.5-28.5 mm), both of which will be procured. To streamline this process, 20 mandis and procurement centers have been established across the state. These centers are located in the following districts: Siwani, Dhigawa, and Bhiwani (Bhiwani District); Charkhi Dadri (Charkhi Dadri District); Bhattu, Bhuna, and Fatehabad (Fatehabad District); Adampur, Barwala, Hansi, Hisar, and Uklana (Hisar District); Uchana (Jind District); Kalayat (Kaithal District); Narnaul (Mahendragarh District); Meham (Rohtak District); and Ellenabad, Kalanwali, and Sirsa (Sirsa District).Procurement of Other Crops at MSPThe meeting also addressed the procurement of other crops at MSP. The Haryana Government has designated HAFED as the primary agency responsible for procuring soybean, maize, and sorghum, with 100% of these crops being managed by HAFED. For other crops, procurement will be conducted in a 60:40 ratio between HAFED and other designated agencies.Key officials, including the Director of the Agriculture Department, Sh. Rajnarayan Kaushik, and the Director of the Food, Civil Supplies, and Consumer Affairs Department, Sh. Mukul Kumar, attended the meeting, along with other officers. Representatives from the Cotton Corporation of India also participated via video conferencing.read more :- Uneven Monsoon Disrupts Kharif Crops and Agricultural Production

Rupee adds 4 paise versus the US dollar to conclude at 83.89.The rupee traded in a narrow range and settled higher by 4 paise at 83.89 (provisional) against the American currency on friday . On Thursday, the rupee traded in a narrow range and settled lower by 3 paise at 83.93 against the American currency.Stock Market Closing Bell: Sensex closes marginally higher Sensex settles 33.02 points or 0.04 per cent higher at 81,086.21 levels.read more :- Rupee Falls 4 Paise to Close at 83.95 Against US Dollar

Rupee drops 4 paisas against the US dollar to close at 83.95.The Indian Rupee closed lower against the US dollar on Thursday, pressured by importer dollar demand and foreign fund outflows. However, domestic equities and lower crude prices offered some support.Sensex Rises 147 pts, Nifty Above 24,800 on Global TrendRising for the third straight day, the 30-share BSE Sensex rose 147.89 points or 0.18 per cent to close at 81,053.19, registering gains for the third day in a row.read more :- Rupee fell 4 paise to 83.94 against the US dollar in early trade