Recent News

Strong Ties with BRICS Can Propel India's Textile Exports to New HeightsGrowing economic cooperation with BRICS nations could create new opportunities for India's textile and apparel exports. In FY2024, India's textile and apparel exports to BRICS countries rose to ₹36,535 crore (US$3.87 billion), though they dipped slightly to ₹34,647 crore (US$3.67 billion) in FY2025. Meanwhile, imports in this sector from BRICS nations increased by 6.9% to reach ₹36,854 crore (US$3.90 billion), highlighting the group's role as a crucial trading partner for India.According to a study by the ASSOCHAM Global Strategy and Research Center, India can significantly boost exports to member nations under the 'BRICS Plus' framework, leveraging its expanding manufacturing capacity and competitiveness. The report notes that India is among the world's fastest-growing major economies, having recorded an average annual economic growth rate of over 7% during the FY2021–FY2026 period.ASSOCHAM believes that deeper cooperation in areas such as trade and investment, supply chain integration, industrial collaboration, the digital economy, green growth, and customs coordination could further strengthen economic ties among BRICS nations. This would enable the group to play a more influential role in the global economic order.India's total exports to BRICS countries reached approximately US$96 billion in FY2026. The Chamber estimates that with appropriate policy support and robust South-South cooperation, this figure could exceed US$200 billion by 2030. The report identifies textiles, leather, engineering products, pharmaceuticals, automobiles, chemicals, electronics, and food products as key sectors with high export potential.read more :- Clouds Raise Monsoon Hopes in Indore

Wait for Monsoon Continues; Clouds Raise Hopes for RainIndore. With the Southwest Monsoon yet to enter Madhya Pradesh, farmers in the Indore division are awaiting adequate rainfall to begin sowing Kharif crops. However, the presence of cotton-like white clouds in the sky over the past few days has signaled a change in the weather and boosted hopes for rain.The clouds hovering over the city recently indicate rising humidity and pre-monsoon activity. Although these clouds have not yet yielded significant rainfall, a slight drop in temperature has been recorded. Farmers, having already prepared their fields for the Kharif season, are now keeping a close watch on the weather's next turn.A look at the data reveals that a delayed monsoon arrival in Indore is not unusual. Over the last 20 years, the monsoon has arrived in the city after June 20 on 13 occasions. It arrived earliest in 2021 (June 11) and latest in 2013 and 2014 (July 10). In most years, the monsoon has reached Indore during the last week of June.On Friday, the city recorded a maximum temperature of 36.9 degrees Celsius, two degrees above normal, while the minimum temperature stood at 24.5 degrees Celsius, one degree above normal. Despite a slight dip in temperature compared to the previous day, persistent cloud cover caused residents to face humid conditions. During the day, the speed of south-westerly winds reached up to 52 kilometers per hour.So far in June, Indore has recorded only 55.3 mm of rainfall, which is significantly below the normal average. According to agricultural experts, at least four inches of rain is required to commence large-scale sowing of Kharif crops.Meteorologist Arun Sharma stated, "The presence of clouds and rising humidity are signs of a changing weather pattern. Although the monsoon is advancing slowly, favorable conditions are developing. There is a likelihood of increased rainfall activity in the region in the coming days." Currently, the northern limit of the monsoon is passing through parts of the Arabian Sea, Maharashtra, Telangana, Odisha, Jharkhand, and Bihar. According to the latest forecast by the India Meteorological Department, conditions remain favorable for the monsoon to advance further into Telangana, Odisha, Jharkhand, Bihar, and parts of Chhattisgarh over the next three to four days.Amidst this, the eyes of both farmers and the general public are fixed on the sky. Everyone is hopeful that the gathering clouds will soon bring good rainfall, ending the wait for the monsoon.read more :- Good Rain Revives Farming in Sankheda

Farmers in Sankheda (Gujarat) Rejoice Over Good Rainfall; Cotton Sowing BeginsGood rainfall on Thursday night in the Sankheda region of Gujarat has brought significant relief to farmers. Smiles have returned to the faces of farmers who had been waiting for rain for a long time. Following this rainfall—considered ideal for the Kharif sowing season—farmers have rapidly commenced sowing various crops, including cotton.Reports indicate that this is the second significant spell of monsoon rain, providing adequate moisture to the fields. Agricultural experts note that proper soil moisture is crucial for cotton sowing, and the recent rain has created favorable conditions for it. Consequently, a large number of farmers were seen active in their fields from early this morning; in many areas, farmers and farm laborers were observed busy sowing cotton seeds.A drop in temperature has also been recorded in the region due to the rain, bringing relief to people from the scorching heat and humidity that had prevailed for several days. The pleasant weather has generated enthusiasm among both farmers and the general public. Expectations of greenery have risen in rural areas, and farmers are hopeful for a better harvest.Many farmers stated that this timely rainfall has accelerated farming preparations. Activities such as leveling the land with tractors, ploughing, and clearing weeds are proceeding rapidly. Some farmers are also preparing to sow other Kharif crops.Those associated with the agricultural sector believe that if the monsoon remains normal and rainfall continues regularly in the coming days, crop production is likely to be good this year. Currently, there is an atmosphere of enthusiasm and optimism among farmers in the Sankheda region, and farming activities are in full swing.read more :- The rupee higher by 02 paise against the dollar to close at 94.32

On Friday the Indian Rupee higher by 02 paise to close at 94.32 against the US dollar, after opening at 94.34 in morning trade.At close, the Sensex was down 607.08 points, or 0.78 percent, at 76,802.90, while the Nifty fell 154.90 points, or 0.64 percent, to 24,013.10. Market breadth improved notably, with 2,137 stocks advancing against 1,905 declines.read more :- US Cotton Planting Advances Despite Texas Delays

US Cotton Crop Progress Continues Despite Delays in TexasCotton planting across the US is steadily advancing in most states, although progress has been hampered by weather-related challenges in some key production areas. According to the USDA's latest crop progress report, 86% of the nation's intended cotton acreage had been planted by June 14. While this figure is two percentage points below the five-year average, it is an improvement over the 84% recorded at the same time last year.USDA meteorologist Brad Rippey noted that planting is complete in states like Arizona, California, and Missouri, with 100% of the intended acreage already sown. However, Texas—the nation's largest cotton-producing state—is still lagging behind the usual pace.According to Rippey, Texas is a key state trailing its five-year average by at least five percentage points. Planting in the state is 80% complete so far, compared to the normal average of 85%. Heavy rains in recent weeks have disrupted field operations, slowing the pace of late-season planting. However, the abundant moisture could prove beneficial for crop establishment and early growth moving forward.Alongside planting, crop development is also progressing. By June 14, 19% of the national cotton crop had reached the squaring stage—two percentage points ahead of the five-year average and one percentage point ahead of last year. Squaring is the critical stage when flower buds begin to develop on the plants.Arizona leads in this regard, with 44% of the crop having reached the squaring stage. Meanwhile, boll formation has begun in approximately 2% of the cotton crop nationwide; this figure is one percentage point lower than both the five-year average and last year's level.Experts believe that weather conditions in the coming weeks will determine the trajectory of US cotton production. Farmers and market analysts are keeping a close watch on crop progress and yield potential. read more :- Hailstorm Raises Concerns for Haryana Cotton Crop

Haryana : Rain and Hailstorm in Chopta Area; Fears of Damage to Narma and Cotton CropsChopta. The weather took a sudden turn on Thursday afternoon in the Nathusari Chopta region. Several villages experienced rainfall accompanied by hailstorms. While the rain brought relief to farmers, there are concerns that the hailstones may damage the Narma (American cotton) and cotton crops.Light to heavy rainfall was recorded in several villages across the region, including Kumharia, Khedi, Rampura Dhillon, Jodakia, Kutiyana, and Barasari. The weather became pleasant following the rain, and the increased soil moisture has benefited farmers sowing Guar (cluster bean) and Bajra (pearl millet). Farmers, who had been awaiting rain for a long time, stated that this would accelerate sowing operations, even on barren land.However, a hailstorm lasting about five minutes in Jamal village has raised fears of an adverse impact on the Narma and cotton crops. Farmers noted that while the rain is beneficial for crops at this stage, hailstorms and strong winds could cause damage.Farmers Omprakash, Sudesh Kumar, Jagdish, and Mohanlal stated that Narma has been sown across approximately 22,000 hectares in the region. Consequently, the hailstorm could affect the crops of a large number of farmers. They have urged the administration to survey the condition of the crops and provide necessary assistance.read more :- MP Monsoon May Gain Pace After 72 Hours

MP Monsoon Update: Monsoon likely to pick up pace after 72 hours; currently stalled 550 km from BhopalBhopal. A significant update regarding the monsoon's arrival in Madhya Pradesh has been released. According to the Meteorological Department, the monsoon's momentum has currently slowed, and its northern limit remains stalled approximately 550 kilometers away from Bhopal. Consequently, a further delay of about five days is anticipated in the monsoon's arrival in the state.Meteorologists state that the monsoon's progress has been hampered by the weakening of weather systems active over the Bay of Bengal and the Arabian Sea. Shifts in wind direction and a lack of atmospheric moisture are currently preventing the monsoon from advancing. However, weather conditions are expected to become favorable within the next 72 hours, potentially accelerating the monsoon's movement once again.Senior meteorologist Dr. Ved Prakash Singh indicated that a new low-pressure area is likely to form within the next 48 hours. This development could create favorable conditions for the monsoon to advance further.According to the Meteorological Department's forecast, the monsoon will enter Madhya Pradesh through its eastern region, likely arriving via Dindori, Mandla, or Amarkantak. Following its entry, significant rainfall is expected to commence in the Jabalpur, Shahdol, and Rewa divisions within 72 to 96 hours.Meanwhile, the monsoon is expected to become active in the central and western parts of the state—including the capital, Bhopal, and Indore—by the last week of June. Until then, humid and hot conditions are likely to persist in several districts.The Agriculture Department has advised farmers to sow Kharif crops only after the first spell of good, adequate rainfall to prevent damage to the seeds.read more :- Rupee Opens Marginally Lower at 94.34 Against US Dollar

The rupee opened 1 paisa lower at 94.34 against the USD.On Friday, the Indian rupee opened 1 paisa lower against the dollar at 94.34, whereas it had closed at 94.33 on Thursday.READ MORE :- The rupee higher by 36 paise against the dollar to close at 94.33

India-UK Trade Agreement to Come into Effect on July 15, 2026Expressing his happiness, Prime Minister Narendra Modi stated that the India-UK Comprehensive Economic and Trade Agreement (CETA) will come into effect on July 15, 2026.Writing on the social media platform X, the Prime Minister said, "Delighted to learn that the India-UK Comprehensive Economic and Trade Agreement will become effective from July 15, 2026. This agreement will provide fresh momentum to trade and investment between the two nations."During a meeting held between Prime Minister Modi and UK Prime Minister Keir Starmer on the sidelines of the G7 Summit in Evian, France, both leaders reiterated their commitment to further strengthening the India-UK Comprehensive Strategic Partnership.Prime Minister Modi stated that this agreement would open up new opportunities for Indian farmers, workers, Micro, Small and Medium Enterprises (MSMEs), start-ups, and innovators.According to a statement issued by the Prime Minister's Office (PMO), the two leaders reviewed the progress made in India-UK relations following the mutual visits that took place last year. They also welcomed the advancements achieved under 'Vision 2035' in key areas such as trade and economic development, defense and security, climate action and green energy, technology and innovation, education, and people-to-people ties.read more :-  The rupee higher by 36 paise against the dollar to close at 94.33

On Thursday the Indian Rupee higher by 36 paise to close at 94.33 against the US dollar, after opening at 94.69 in morning trade.At close, the Sensex was up 254.36 points or 0.33 percent at 77,409.98, and the Nifty was up 82.30 points or 0.34 percent at 24,168. About 2280 shares advanced, 1772 shares declined, and 169 shares unchanged.read more :- Rupee Weakness Brings Mixed Relief to Textile Exporters

Rupee Weakness in FY26 Offers Relief to Textile Exporters, Yet Challenges PersistThe Indian rupee has depreciated by approximately 46% against the US dollar over the last decade. Generally, a weaker rupee is considered beneficial for exporters as it makes Indian products relatively cheaper in the global market. However, India's textile and garment exports have seen only limited growth during this period, highlighting issues such as global competition, weak demand, and market uncertainties.According to Ministry of Commerce data, India's textile and garment exports stood at approximately $29.47 billion in the 2014-15 fiscal year, when the rupee was trading at around 65 against the dollar. Subsequently, the rupee weakened steadily, closing at 94.83 per dollar on March 31, 2026. Despite this, textile and garment exports in FY26 declined to $35.80 billion, a 2% drop compared to the $36.61 billion recorded in the previous fiscal year.Experts note that while exporters benefited from the rupee's depreciation, this advantage could not offset the impact of sluggish global demand and the growing presence of competing nations. Garment exports, in particular, have remained under pressure for the past few years. Industry insiders believe that despite a marginal rise in export value, there has been a decline in export volumes. Some estimates suggest that shipment volumes may have dropped by nearly one-third between FY15 and FY26.Siddhartha Rajagopal, Executive Director of the Cotton Textiles Export Promotion Council, stated that although orders from the US declined in FY26, improved demand from markets such as China, Bangladesh, and Sri Lanka provided some support to exports. Meanwhile, K. [Name Incomplete], Chairman of the Powerloom Development and Export Promotion Council... Shaktivel stated that while exports to African countries saw a brief surge in the last fiscal year, the period was overall highly uncertain for the industry.The industry believes that export growth in the coming years will not depend solely on the depreciation of the rupee, but also on enhancing competitiveness, gaining access to new markets, and an improvement in global demand.read more :- North India Cotton Acreage Drops 22%