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New foreign trade policy will be announced todaySources have revealed that the government will announce the much-awaited new foreign trade policy on Friday, which has sought to support exporters, especially those in the MSME sector, amid a slowdown in global trade.The policy may also come with goals for 2047, such as increasing India's share of global trade to 10 per cent and the share of exports to 25 per cent of GDP.The new FTP was initially scheduled for 1 April 2020, but was postponed several times and the old policy was extended to deal with the uncertainties posed by the COVID-19 pandemic. The last extension of FTP (2015-20) is due to expire on 31 March 2023.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Textile-egyption-cotton-new-spinning-weaving-mansourabdel-ghani-ministry-development

Egypt to set up new textile factory to boost spinning and weaving sectorMansour Abdel-Ghani, spokesman for the Ministry of Public Trade Sector, announced that the garment factories will be opened in July for the state project to develop the spinning and weaving sector. Abdel-Ghani said that Mahmoud Esmat, Minister of the Public Trade Sector, is following the project on a day-to-day basis.He said that the garment factory project is being implemented by a holding company for cotton, spinning, weaving and fabric. It aims to maximize the yield of long-staple and extra-long Egyptian cotton, and add transformational industries such as oil presses, sorghum and others.Hisham Tawfiq, Minister of the Public Enterprises Sector, announced in 2018 that a comprehensive development plan is underway for the spinning and weaving industry within the ministry's companies, which will be implemented over three years. Tawfiq said the plan would include the development of cotton spinning companies through weaving, dyeing and processing.The minister informed that the company's development plan aims at increasing the operating capacity in a single shift and increasing the number of work shifts, which will lead to increased production capacity. The company would expect major investments especially for the dyeing and processing phases. During his meeting with the company's board of directors and employees' representatives, Taufiq stressed the need to improve the costing and pricing system for products, develop an effective marketing plan, and open new export markets.  He suggested increasing awareness among the workers about the objectives of the development plan, which reflects positively on the performance of the company and the employees. “We have to promote the textile and clothing industry to compete in the global market,” he said.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Import-duty-concession-extension-custom-textile-gujrat-sgcci-finance-ministry

Extension of concession in customs duty on import of textile machineryThe concessional customs duty for major textile machinery was to expire on March 31, 2023, after which a customs duty of 8.25 per cent was to be levied on these machinery. However, the Union Finance Ministry through a notification extended the validity of the concessional customs duty till March 2025.The move came after the Southern Gujarat Chamber of Commerce and Industry (SGCCI) and Federation of Gujarat Weavers Association, and other textile industry bodies, on March 13 requested Union Textiles Minister Piyush Goyal and Union Finance Ministry officials to increase the concessional customs duty Is.Welcomes extension of concessional customs duty on textile industry machinery. Welcoming the move, Himanshu Bodwala, President, SGCCI said, “We are very satisfied with this decision… This move is expected to attract huge investment in the textile industry and help the textile industry reach its export target of USD 250 billion by 2030. will gain help in.Describing the number of machines used by the weaving industry in Surat over the years, Ashish Gujrati, president of the Pandesara Weavers Cooperative Society Limited, said, “In 2002, there were 10,000 high-speed weaving machines in Surat. Today Surat has over 80,000 waterjet weaving machines, 30,000 rapiers with Jacquard machines and 10,000 airjet and projectile machines. The total number of high-speed machines in India is 2,50,000 machines. About 50 percent of the total high-speed machines in India are in Surat.In its representation to Goyal, SGCCI had stated that the Indian textile industry is fragmented and 97 per cent of the downstream industry is being produced by MSMEs which are decentralized across India. The knitting and weaving sector produces 97 per cent of the clothing in India in a decentralized manner. At present the domestic market for the textile industry is about US$ 100 billion and exports are US$ 44 billion.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Spot-rate-pakistan-market-cotton-trading-pakistan-firm-local-naseem-usman

cotton spot rate firm in pakistanThe local cotton market and trading volumes remained thin on Thursday. Cotton analyst Naseem Usman told that the price of cotton in Sindh is Rs 17,000 to Rs 19,000 per head.The rate of cotton in Punjab is Rs 18,000 to Rs 19,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg. Shujabad's 400 bales were sold at Rs 19,000 per head.The spot rate remained unchanged at Rs 18,700 per head. Polyester fiber was available at Rs 358 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-india-export-decreased-textile-compared-chapter52-last-year

Cotton export from India decreased by $ 2927 million as compared to last yearIn the report of Chapter 52, (HSN CODE), complete information about export of textile related products like raw cotton, yarn, cotton vest, denim etc. is available. SIS researched the details of exports in the last 5 months of this chapter and made a comparative report by comparing it with the same months of last year. According to this prepared report, there has been a decrease of $ 2927 million in Chapter 52 exports from India in this year 2022-23 as compared to last year 2021-22.In the 5 months of October, November, December, January and February, the maximum decrease has taken place in the exports of December. Exports have decreased by 64.57 percent this month. While the situation has been seen improving in February and this shortfall has come down to 39.11 percent. It is expected that the export situation will improve in the coming months. Presenting this special report related to exports-👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-government-subsidy-punjab-farmer-crop-seeds-agriculture-increased-market-announced

The state government gave subsidy and the central government increased the priceThe problems of the cotton farmers of Punjab are not taking the name of ending. In the entire season, sometimes due to crop failure and sometimes due to low price, the farmer is troubled. Now that the government of Punjab has announced a 33% subsidy on Bt cotton seeds to promote crop diversification, the central government has raised the price of Bollgard-II (BG-II) seeds by Rs 43 for a 450-gram packet is, and its price is being taken from Rs.810 to Rs.853.Two packets of BG-II seed are required for one acre of land. It is expected to offer 33% subsidy to farmers who have seed complaints up to 5 acres, as beneficiaries will have to buy only certified varieties and upload bills on a portal to receive the amount in their bank. The market of those who sell spurious seeds without bills will be snatched away.Spurious seeds and fertilizers were behind the frequent pest attacks on the cotton crop. “The subsidy will absorb the 5.3% increase in price in Punjab, but it will be difficult for the state agriculture department to increase the area under cotton,” claim farmers who have suffered two consecutive crop failures and They have very little purchasing power left. The state government has set a target of covering 3 lakh hectares under cotton, for which it is all set to provide canal water to cotton growers from April 1.In the last two years, Punjab cultivated cotton in 2.5 lakh hectares each and produced 29 lakh quintals last season, while this season the production is expected to be only 8 to 9 lakh quintals. In the year 2019-20, the production was around 50 lakh quintals. In 2015 the pest attack started reducing the acreage along with the yield. Earlier, many farmers obtained Bt cotton seeds from Gujarat or approached direct marketers from various companies who made tall claims that the seeds were resistant to whitefly and pink bollworm.A farmer from Bathinda said: “After two years of loss due to natural calamity or pest attack, we have decided to return to paddy cultivation. We cannot take more risks.” Director Agriculture Gurvinder Singh said, “Even though the Center has increased the price of BG-2 cotton, the subsidy from the Punjab government will nullify the effect. The subsidy is aimed at weeding out spurious seeds from the market. We hope to increase the area under cotton from 2.5 lakh hectares to 3 lakh hectares👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/China-standards-improve-chinacottonassociation-cotton-production-manufacturers-companies-industrial-

China unveils its cotton production standards to improve qualityWang Jianhong, vice chairman and secretary general of the China Cotton Association (CCA), said the CCA and other industry organizations have launched the Cotton China Sustainable Development Program (CCDS) to build China's own cotton certification system to drive the industry forward. Wang pointed out that cotton growers in the southern Xinjiang region have been "very active".CCDS has also launched an industrial standard for sustainable cotton production based on factors covering environmental protection, occupational health and social responsibility. The new program has employed two companies, one of which is SGS, a leading global testing and certification company, to carry out online and offline review and certification work on 1.2 million mu (80,000 ha) of cotton farms. Wang revealed that this accounts for about 2 percent of China's total cotton fields.A total of six Chinese cotton manufacturers were awarded the first prize for the CCDS to issue sustainable cotton production certificates during a clothing exhibition in Shanghai on Tuesday. The six companies include China National Cotton Group Xinjiang Cotton Limited Company, Xinjiang Lihua Group, Hubei Yinfeng.Wang said that before China established its own industrial standards, the BCI was the leading group for sustainable cotton standards in Xinjiang. After its exit, the CCA has taken initiatives to "fill the gap". "We think we should play a bigger role than BCI to push China's cotton industry towards high quality and sustainable development," Wang said.Wang also emphasized that the CCDS project aims to help domestic textile and clothing companies maintain their export market share in a challenging global market. "Many textile and clothing companies in China rely heavily on overseas markets for revenue. I think it would be a pity if they lose those markets."Wang also said that the CCA will further enhance communication with global cotton industry bodies, including the US, to promote cooperative mechanisms, including mutual recognition of cotton industry standards, so that cotton trade between China and overseas can continue. "Actually it suits the interests of the cotton industries in both China and the US, because China has a very complete fabric and clothing supply chain that cannot be easily replaced by other countries," he said.Complying with China's sustainable cotton production standards would not be too difficult for most domestic cotton growers who have considerable experience in meeting BCI standards. And few companies are willing to pay additional costs to meet such standards for the sake of brand reputation and long-term growth. "China's cotton production and consumption is ranked No. 1 globally, and the quality of Xinjiang cotton is no less than cotton grown.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Goverment-cotton-mills-chiefministerbvasavarajbommai-previous-agricutural-production-save

Previous governments did not have the understanding to save cotton mills on the basis of local agricultural production: Chief Minister Basavaraj BommaiKarnataka Chief Minister Basavaraj Bommai launched a mega textile park, which will come up on 1,000 acres of land near Kalaburagi under the PM-Mitra scheme and generate one lakh direct jobs and two lakh indirect jobs. Recalling the olden days, he said that “Davanagere was known as the Manchester of Karnataka. There were other cities like Kalaburagi, Raichur, Hubli and Belagavi where cotton mills were processing raw cotton produced by farmers in the state and making cloth. Now all the cotton mills are closed due to wrong policies. The then governments did not have the spirit to protect the industry based on local agricultural production.He was addressing a public meeting at PDA Engineering College Auditorium in Kalaburagi on Tuesday after inaugurating the Central Government's Mega Textile Park allotted to Kalaburagi in Karnataka under the PM-MITRA (Prime Minister's Mega Integrated Textile Region and Apparel) scheme. The textile park is one of the seven such parks given by the central government to seven states. Pointing to the widespread migration from the Kalyana Karnataka region to big cities like Hyderabad and Mumbai in search of livelihood options, Mr. Bommai said the 1,000-acre mega textile park near Kalaburagi is expected to address the issue.“People from this region travel hundreds of kilometers to find work in Hyderabad, Mumbai and other cities to take care of their families. The Mega Textile Park being set up at Kalaburagi will effectively address this issue of migration by generating approximately one lakh direct employment and two lakh indirect employment. Highlighting the importance of Mega Textile Park in employment generation, he said that textile industry is the third major industry in the country after energy and coal industries in terms of employment generation.“We could have thought of giving Kalburgi some other industry. But, we chose to give this Textile Park as it is one of the major industries along with energy and coal which generate large scale employment. With the commencement of this textile park, there will be a rapid change in the lives of the people. Expressing optimism for the development prospects of Kalaburagi, the Chief Minister said the city would become an investment hub not just for Karnataka but for the whole of India because of its strategic location and connectivity."In 10 years from now, Kalaburagi will become a major investment hub in South India due to its strategic location and its road, rail and air connectivity. It will be the city of the future not only for Karnataka but for India. Central Textile and Commerce and Industry Minister Piyush Goyal, who was supposed to attend the meeting, could not attend as he was busy with other work in New Delhi. However, he sent a video message wishing success to the Textile Park and the message was played in the meeting.Memorandum of Understanding (MoU) was signed with nine private companies in cotton processing and textile business with an expected investment of ₹2,000 crore, including ₹500 crore each from Himatsingka and Shade Exports. Union Minister of State for Railways and Textiles Darshana V. Jardosh, Union Minister of State for Chemicals and Fertilizers, New and Renewable Energy Bhagwant Khuba, Minister for Large and Medium Enterprises Murugesh Nirani, Minister for Handlooms and Textiles Shankar Patil Munankoppa and Lok Sabha member Umesh Jadhav from Kalaburagi were present on the occasion. Among the dignitaries present were.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-agriculture-department-seeds-sale-spurious-punjba-farmers

Rupee depreciates by 15 paise against dollarThe rupee declined by 15 paise to close at Rs 82.34 against the dollar this evening.Sensex closed up by 346 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 57960.09 points with a gain of about 346.37 points.On the other hand, the Nifty closed at the level of 17080.70 points with a gain of 129.00 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/currency-news-rupees-news-dollar-news-daily-currency-market-daily-rupees-29.03.2023

Agriculture Department formed teams to stop the sale of spurious cotton seedsThe cotton farmers of Punjab have been troubled by the problem of spurious seeds for a long time. To overcome this problem, the Agriculture Department has taken a step. Bathinda Chief Agriculture Officer Dr. Dilbag Singh said that 48 Agriculture Development Officers and seven Agriculture Extension Officers have been deputed in the district to ensure that spurious cotton seeds from outside the state do not reach the market.He said that teams at block and circle level would also keep an eye on illegal seeds. He said that a six-member monitoring team has been formed in the district. He appealed to the farmers to apply online by visiting the government portal for the purchase of cotton seeds. By doing this, farmers will get good quality seeds with 33 per cent subsidy.Last year, fake cotton seed from Gujarat was sown in this cotton belt. The farmers who sowed this special seed had to bear the economic loss. In many cases, the cotton crop did not bear fruit at all.In 2021, whitefly and pink bollworm caused heavy damage to the cotton crop, after which some people sold seeds purchased from Gujarat to farmers, to ensure that the variety was whitefly resistant.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Pakistan-market-look-cotton-spot-rate-trading-naseem-usman

A look at Pakistan's cotton marketThe local cotton market remained sluggish on Tuesday with thin trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is Rs 17,000 to Rs 19,000 per head.The rate of cotton in Punjab is Rs 18,000 to Rs 19,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 18,700 per head. Polyester fiber was available at Rs 358 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-growers-unfulfilled-still-market-farmer-ginning-producer-cultivation