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In early trade, the rupee dropped 4 paise to 83.81 against the US dollarNow talking about equity benchmark indices, BSE Sensex is currently trading at 80736.53 with a slippage of 66.33 points i.e. 0.08 percent and Nifty 50 is at 24672.40 with a marginal decline of 26.45 points i.e. 0.11 percent. One trading day earlier, Sensex closed at 80,802.86 and Nifty at 24,698.85.

Andhra Pradesh to soon launch enhanced textile policy: Minister SavithaAmaravati: The Andhra Pradesh government is set to introduce a new and enhanced textile policy aimed at strengthening the state’s textiles, apparel, and garment manufacturing sectors, according to Minister for Backward Classes Welfare and Handlooms & Textiles, S. Savitha.Speaking to investors via videoconference from the Secretariat on Monday, the Minister said the government is focused on developing essential infrastructure, offering industry incentives, and ensuring faster clearances to attract investments in the sector.She noted that the earlier ‘Textile Policy 2018–23’, introduced by the TDP government, was later discontinued by the YSR Congress Party government, which created challenges for existing industries and led some investors to shift focus to other states. The upcoming policy, she said, will be a strengthened and updated version of the earlier framework, aligned with current industry requirements.Highlighting the state’s strong position in the textile sector, Ms. Savitha said Andhra Pradesh ranks second in silk production nationally, while also holding sixth and seventh positions in cotton and jute production respectively. The state currently has nine textile and apparel parks, including three in the public sector, along with 146 mega textile industries and 15 technical textile units.She further encouraged investors to explore opportunities in agro-textiles, geo-textiles, and automotive textiles, stressing the state’s potential to emerge as a key manufacturing hub.Ms. Savitha assured full government support for companies establishing operations in Andhra Pradesh, emphasizing a business-friendly environment and policy-driven growth. Principal Secretary (Handlooms & Textiles) K. Sunitha, Joint Director Srikanth Prabhakar, and other senior officials were also present at the meeting.

In early trade, the rupee gained 2 paise to 83.85 against the US dollarNow talking about equity benchmark indices, the BSE Sensex is currently at 80,581.70 with a gain of 157.02 points i.e. 0.20 percent and Nifty 50 is at 24,624.90 with a gain of 52.25 points i.e. 0.21 percent. One trading day earlier, the Sensex closed at 80,424.68 and the Nifty at 24,572.65.

The rupee gained  1  paisa versus the US dollar this evening, closing at Rs 83.94At the end of trading, the Sensex closed at 80,436.84 with a gain of 1330.96 points or 1.68 percent. The Nifty closed at 24,541.15 with a gain of 397.40 points or 1.65 percent.Read More :- Textile and Apparel Exports Rise 4.73% in July on Strong Apparel Demand: CITI

August Textile and Apparel Exports Increase 4.73% Due to High Demand for Clothes: CITIIndia's textiles and apparel exports saw a 4.73% increase in July, reaching USD 2,937.56 million, largely driven by a surge in apparel demand, according to the Confederation of Indian Textile Industry (CITI). While textile exports remained stable at USD 1,660.36 million, apparel exports jumped by 11.84% to USD 1,277.20 million, compared to USD 1,141.95 million in the same period last year.CITI Chairman Rakesh Mehra highlighted the strong performance, noting that the growth is due to the expanding presence of Indian apparel in key markets like the US, as well as increased exports to the European Union and the UK. The industry is optimistic about future export orders, buoyed by recent Free Trade Agreements (FTAs) such as the India-Australia Economic Cooperation and Trade Agreement (ECTA) and the India-UAE Comprehensive Economic Partnership Agreement (CEPA).“These FTAs are expected to give our exports a significant boost. The industry is strategically positioning itself to seize these opportunities, ensuring India's continued prominence in the global textiles and apparel market," Mehra added.read more :- 15% Surplus Rain in First Half of August; Monsoon at 105% of Long Period Average

15% More Rainfall in August's First Half; Monsoon at 105% of Long-Term AverageLa Niña Likely to Develop by Month-End, Says IMDIndia experienced 153 mm of rainfall in the first half of August (August 1-15), which is 15% above the normal 133.3 mm for this period. This increase has pushed the overall seasonal rainfall to 105% of the long period average (LPA) for the monsoon season spanning June 1 to August 15.Earlier in the season, June recorded an 11% rainfall deficit, while July saw a 9% surplus. Between June 1 and August 15, the country received a total of 606.8 mm of rain, which is 4.8% above the LPA of 579.1 mm.The India Meteorological Department (IMD) had previously forecasted that August rainfall across most parts of the country would be "normal" (94 to 106% of LPA). However, below-normal rainfall was predicted for several regions, including southern parts of central India, the northern peninsular region, parts of northeast India, and some areas in northwest and south peninsular India.Regional Rainfall PatternsThe latest data reveals that the east and northeast regions, including West Bengal, Bihar, Jharkhand, and the northeastern states, received 198.6 mm of rainfall during the first half of August, which is 21.4% above the LPA of 163.6 mm.In the northwest region, which includes Punjab, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, and Jammu & Kashmir, rainfall totaled 154.6 mm—44.8% above the normal 106.8 mm for the same period.Central India, encompassing Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, and Goa, reported 160.9 mm of rainfall, just 1.5% below the LPA of 163.4 mm. Meanwhile, the southern peninsula, including Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana, received 99.7 mm of rainfall, which is 0.9% above the normal 98.8 mm.*Reduction in Deficient Rainfall Areas*The number of meteorological subdivisions with deficient rainfall has decreased from 9 to 6 over the past 15 days. As of August 15, these 6 subdivisions, representing 17% of India’s geographical area, have reported deficient rainfall. In comparison, 9 subdivisions, covering 25% of the area, were deficient as of July 31. Regions like Bihar, Punjab, Himachal Pradesh, Jammu & Kashmir, and parts of the northeastern states have experienced deficient rainfall so far.*Active Monsoon Conditions and Weather Events*The IMD reported active monsoon conditions across most parts of northwest and central India during the week ending August 15. Notable weather events included exceptionally heavy rainfall in Karauli (38 cm) in east Rajasthan on August 11, extremely heavy rainfall in east Rajasthan on August 11-12, and very heavy rainfall in Himachal Pradesh from August 9-11, Punjab on August 11 and 14, and Haryana from August 9-12.This weather activity was largely due to a persistent cyclonic circulation over northeast Rajasthan, coupled with moisture-laden southerly and south-westerly winds from the Arabian Sea moving into northwest India.*ENSO-Neutral Conditions and La Niña Outlook*The IMD noted that neutral El Niño-Southern Oscillation (ENSO) conditions currently prevail in the equatorial Pacific region, with La Niña expected to develop towards the end of August, according to forecasts from the Monsoon Mission Climate Forecasting System (MMCFS).The Madden-Julian Oscillation (MJO), another global weather pattern influencing monsoon rainfall, is currently in phase 1 with an amplitude greater than 1. The MJO is expected to enhance convection starting around August 20-21 over the equatorial Indian Ocean and adjoining Arabian Sea and Bay of Bengal.*Agricultural Advisory*Farmers in Uttar Pradesh, Rajasthan, Madhya Pradesh, Chhattisgarh, West Bengal, Odisha, Jharkhand, Bihar, Punjab, Haryana, Tamil Nadu, Kerala, Karnataka, and the Rayalaseema region have been advised to drain excess water from their field crops and horticultural crops.Overall, the IMD forecasts that rainfall is likely to be above normal over the plains of northwest and central India and near normal over the western Himalayan region until August 22.read more :- India Lost 33.9 Million Hectares of Crops Due to Excess Rains, WEF Report Reveals

According to a WEF report, India lost 33.9 million hectares of crops as a result of excessive rainsExtreme climate events have significantly impacted India’s agriculture sector, according to a new report by the World Economic Forum (WEF). The report highlights that between 2015 and 2021, India experienced crop losses amounting to 33.9 million hectares due to excessive rainfall and an additional 35 million hectares due to drought conditions.Agriculture, which constitutes 15% of India's GDP and employs approximately 40% of the population, faces severe risks from these extreme climate events. The WEF report, titled “Income Protection and Early Warning Systems: How India is Building Climate Resilience,” outlines the pressing challenges posed by climate change, including heat waves, floods, and earthquakes.Economic Impact and Insurance GapThe report reveals that in 2021 alone, Indian sectors, including agriculture, suffered economic losses totaling $159 billion due to lost working hours from extreme climate impacts. It projects that by 2030, India could see a 5.8% decline in working hours, equating to 34 million full-time jobs, due to heat stress.Despite these challenges, there is a significant insurance coverage gap that hinders many from protecting their livelihoods against extreme weather events and climate change, the WEF notes.Government Initiatives and InnovationsSandeep Katiyar, Co-Founder & CFO of Finhaat, emphasizes the urgent need to enhance resilience among farmers. He notes that small and marginal farmers, who hold less than one hectare of land, make up 86% of those engaged in agriculture.The Indian government is making strides in this area with policy interventions such as the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-based Crop Insurance Scheme (RWBCIS), which provide insurance for both crops and weather-related risks.Focus on Vulnerable PopulationsThe WEF report points out that extreme weather disproportionately affects low-income Indians, exacerbating the insurance coverage gap. However, innovative weather-based insurance products tailored to specific geographies and sectors are being developed to address these challenges.The report highlights the potential of the Sandbox for Agricultural and Rural Security, Technology, and Insurance (SARATHI) initiative to enhance farmer resilience against climate volatility. Additionally, the introduction of the Women’s Climate Shock Insurance and Livelihoods initiative (WCS) aims to provide income replacement for female outdoor workers during extreme heat waves.Global Replication and Future ChallengesThe WEF suggests that successful initiatives in India could serve as models for vulnerable communities globally. It also warns that if climate-induced migration reaches 45 million people by 2050, it could lead to significant economic repercussions, including reduced tax revenues.Katiyar underscores the importance of comprehensive risk management, including warehousing and targeted insurance products, to mitigate risks and strengthen the agricultural sector’s resilience.READ MORE :-  Cotton prices Surge as Acreage Declines in Punjab, Haryana, and Rajasthan

This evening, the rupee appreciated by 2 paise to settle at 83.95 against the US dollar.At the close of trading, the BSE Sensex rose 149.85 points or 0.10 per cent to close at 79,105.88. The NSE's 50-share index, Nifty, rose marginally by 4.75 points or 0.02 per cent to close at 24,143.75.read more :-  Cotton prices Surge as Acreage Declines in Punjab, Haryana, and Rajasthan

Prices for cotton rise in Punjab, Haryana, and Rajasthan as acreage declines.Cotton prices have increased by 1.07%, reaching ₹56,900 per candy, driven by significant reductions in cotton acreage across major Indian states. Punjab, Haryana, and Rajasthan have seen their cotton cultivation fall to 10.23 lakh hectares from 16 lakh hectares last year. Specifically, Punjab's cotton area has plummeted to 97,000 hectares, a sharp decline from 7.58 lakh hectares in the 1980s and 1990s. Rajasthan and Haryana also reported reductions, with their cotton acreage now at 4.75 lakh hectares and 4.50 lakh hectares, respectively.The decrease in acreage is coupled with delays in shipments from major global cotton producers like the US and Brazil, heightening demand for Indian cotton, particularly from mills in neighboring countries.The rise in cotton prices is further supported by firm cottonseed prices. Sowing for the Kharif 2024 season has commenced in southern states such as Karnataka, Telangana, and Andhra Pradesh, following recent monsoon rains. According to the USDA’s 2024/25 cotton projections, higher beginning and ending stocks are anticipated compared to previous estimates.Despite stable domestic production, consumption, and export forecasts, the season average upland farm price has been revised down by 4 cents to 70 cents per pound due to lower new-crop cotton futures. In the US, ending stocks are expected to rise by 400,000 bales to 4.1 million bales. Globally, the 2024/25 cotton balance sheet indicates increases in beginning stocks, production, and consumption, with world-ending stocks projected to reach 83.5 million bales, up by 480,000 bales from May.read more :- White fly and pink bollworm infest cotton crop

This evening, the rupee ended the day at 83.97 against the US dollar, unchangedThe BSE Sensex fell 692.89 points or 0.87 per cent to close at 78,956.03. During the day's trading, it fell 759.54 points or 0.95 per cent to 78,889.38. The NSE Nifty fell 208 points or 0.85 per cent to 24,139.Read More :- White fly and pink bollworm infest cotton crop

Cotton crop is infested by pink bollworm and white fly.This year too, cotton crop in Haryana and Punjab is facing the attack of white fly and pink bollworm. Like the last two years, this time too these pests have damaged the crop, forcing farmers to till their crops. Some farmers who have access to water are planting late varieties of paddy, while other farmers have started uprooting the crop to minimize their losses.However, in the previous years, the cotton crop had suffered heavy losses due to pink bollworm attack, the same is expected to happen this time too. In some villages of Fazilka, farmers are uprooting their crops and preparing to plant rice variety. According to the agriculture department, some hotspots of infection have been identified, but so far the attack of pests is within the prescribed limit.Jaswant Singh, director of agriculture department of Punjab, has admitted that there have been reports of farmers uprooting cotton crop. Farmers who have provided PR 126 variety of paddy seedlings are only able to uproot half of the crop.Haryana farmers are also facing the attack of white fly and pink bollworm this year. Satpal Bhadu, who grows cotton in 30 acres, has planted cotton in only 10 acres and now his crop is being attacked by pests. Sukhbir Manju, a resident of Khajuri-Jaati village in Fatehabad, had also given priority to rice crop, but now even the cotton crop has been attacked by pests.In this situation, farmers may have to make new plans for future crops and hope for more assistance from the government. READ MORE :- Bangladesh Crisis Presents Growth Opportunity for Domestic Textile Sector