In relation to the US dollar, the Indian rupee opened flat at 86.63.Indian rupee opened almost flat at 86.6338 against the US dollar, as compared to 86.6250 at previous close against the greenback.The Economic Survey for 2024-25 will be tabled before both the Houses of Parliament on January 31, the first day of the Budget Session, presenting the Finance Ministry's view on the state of the economy.Read More :- India Budget 2025-26: Will demands of textile industry be addressed?
Will the textile industry's expectations be met in the 2025–2026 Indian budget?India's apparel and textile industry is grappling with complex challenges that Finance Minister Nirmala Sitharaman will have to address in her budget speech on February 1. While Sitharaman will present her eighth consecutive budget, a big question is whether she will accept the many demands and recommendations of industry leaders? Industry bodies are urging the minister to consider their proposals, stressing the urgency of these challenges.Rajiv Gupta, CEO, RSWM Ltd, hoped, “There are several recommendations to improve the viability and cost competitiveness of the industry. First, raw material prices in India are much higher than global rates as Indian companies deal with QCOs (quality control orders) on MMF (man-made fibres) and yarns. These non-tariff barriers restrict the free flow of raw materials, resulting in shortages of specialty yarns and fibres, which in turn impacts local prices. Therefore, the Centre should liberalise import policies to ensure a more competitive market for raw materials and reduce or eliminate customs duties on MMF fibres and chemicals critical in the production of raw materials. Since specialty cotton (such as organic and contamination-free varieties) is imported due to domestic unavailability, import duties imposed to protect local farmers are hurting textile value chains. “The cotton procurement scheme under MSP (minimum support price) should be replaced with a DBT (direct benefit transfer) programme,” Gupta added. This will provide more liquidity to cotton farmers as they can sell the produce without waiting for official procurement. Price volatility also needs to be addressed by creating a Cotton Price Stabilisation Fund, which will ensure competitive availability of raw material. An extended loan limitation period of eight months (instead of three months) for cotton procurement and an interest waiver scheme can also prevent price volatility. The industry ultimately seeks the suspension of Section 43B(h) of the Income Tax Act, 1961." Siddharth Dungarwal, founder of clothing brand Snitch, said, "The apparel and retail industry is a key contributor to India's economy, and we are optimistic that the upcoming Union Budget will address some of the critical challenges faced by the sector. We expect measures that simplify operations, encourage sustainable manufacturing, and help local brands and retailers expand globally. Policies such as tax rationalisation, investments in technology upgradation and incentives to develop a future-ready workforce can enable businesses like ours to drive innovation, create jobs, improve customer experience and strengthen India's position as a global fashion and retail hub.Pallav Bihani, CEO and Founder, Boldfit, said, “India's fitness and activewear market is growing at an incredible pace and as health becomes a lifestyle priority for millions, this budget is an opportunity to give the textile industry a real boost. Activewear has become a core part of the fitness culture, but there is still a lot of untapped potential in terms of domestic manufacturing and sustainable innovation.The combination of innovation, sustainability and affordability can truly define what the Indian textile and fitness industry can achieve together. Anand Iyer, CEO of retail brand Arrow, said, “We are optimistic about the government's continued commitment to foster economic resilience and growth. This is a critical moment to prioritise policies that foster innovation, enhance ease of doing business and strengthen consumer confidence. At Arrow, we are committed to honouring our legacy while evolving to meet the ever-changing needs of today's consumers. We eagerly look forward to the opportunities this budget will create for our business and the industry. We hope the upcoming budget will bring initiatives that will drive retail growth and simplify business operations."read more :- Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.
Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.At close, the Sensex was up 226.85 points or 0.30 percent at 76,759.81, and the Nifty was up 86.40 points or 0.37 percent at 23,249.50. About 2051 shares advanced, 1734 shares declined, and 117 shares unchanged.read more :- Textile Industry seeks curbs on underbilled Chinese imports, duty-free cotton
The textile industry wants to stop duty-free cotton and underpriced Chinese imports.New Delhi, Jan 30 : The textile industry, a key pillar of India’s economy, has high expectations from the upcoming Budget, seeking policy support to address pressing challenges. Contributing nearly 4% to the country’s GDP, 13% to industrial production, and 8% to total merchandise exports, the sector remains India’s largest industrial employer, providing direct employment to 4.5 cr people.Industry leaders are calling for simplified compliance processes, incentives for sustainable and digital initiatives, and enhanced support for MSMEsOne of the key concerns is the high cost of Indian cotton following the 11% customs duty imposed on cotton imports in 2021. According to the Northern India Textile Mills Association (NITMA), this has widened the gap between domestic and international cotton prices, making cotton spinning operations unviable in India. With international cotton prices consistently lower over the past two years, the industry is urging the government to abolish the customs duty on cotton imports and allow duty-free procurement to mitigate the financial strain on domestic manufacturers.Another major challenge faced by the textile industry is the rampant under-invoicing of knitted fabrics, especially from China. Industry estimates suggest that this malpractice results in an annual revenue loss of nearly ?5,000 crore to the exchequer, while also causing severe damage to domestic textile businesses. The industry has expressed concerns over the rise of a parallel economy due to the large-scale sale of undervalued imports and has urged the government to implement a permanent solution to curb under-invoicing.The RoDTEP (Remission of Duties and Taxes on Exported Products) scheme, which has been extended until September 30 under the Advance Authorisation scheme until December 31, 2024, is another key focus for industry stakeholders. To meet the ambitious target of USD 350 billion in total revenue by 2030, including USD 100 billion in textile exports, the industry is advocating for an extension of the RoDTEP scheme until September 2025 and the restoration of RoDTEP rates for textile products.At present, the Production-Linked Incentive (PLI) scheme applies exclusively to synthetic fibres. However, industry representatives argue that PLI benefits should be extended to the entire textile sector, including cotton-based products, to encourage investment and promote overall growth.With the Budget around the corner, textile manufacturers and industry associations are hopeful that their demands will be met, ensuring sustainable growth and competitiveness in the global market.read more :- Rupee falls 2 paise to 86.57 against US dollar in early trade on Thursday.
Against the US dollar, the rupee drops 2 paise to 86.57 in early Thursday trading.The rupee depreciated 2 paise to 86.57 against the US dollar in early trade on Wednesday, due to sustained foreign fund outflows, unabated dollar demand from oil importers and weak risk appetite.At the interbank foreign exchange, the rupee opened at 86.57 then fell further to 86.58 against the American currency, registering a decline of 2 paise over its previous close.read more :- The Indian rupee on Wednesday closed 2 paise marginally higher at 86.55 per dollar, as against 86.57 per dollar open on morning .
After opening at 86.57 per dollar this morning, the Indian rupee closed 2 paise higher at 86.55 per dollar on Wednesday.At close, the Sensex was up 631.55 points or 0.83 percent at 76,532.96, and the Nifty was up 205.85 points or 0.90 percent at 23,163.10. About 2874 shares advanced, 937 shares declined, and 96 shares unchanged.read more :- Khargone's cotton industry is breaking down, traders have high expectations from the Finance Minister in the budget
The cotton business in Khargone is collapsing, and traders are expecting the Finance Minister to deliver a budget that meets their expectations.Khargone Cotton Industry: The budget is going to be presented in the Parliament, for which the industrialists associated with the industry have demanded from the Finance Minister of the Central Government to make a detailed plan for the cotton industry. So that the dying industries of cotton can get a lifeline. Our correspondent discussed with the industrialists doing cotton business regarding the budget.Madhya Pradesh Cotton Association President Kailash Agarwal says that there is a demand for cotton not only in the country but also abroad. Cotton crop is grown in 2 lakh hectares in Madhya Pradesh and the fiber of the cotton here is good. There is also a demand for this cotton, but the industries are breaking down due to taking GST RCM advance.Finance Minister needs to pay attentionCotton trader Narendra Gandhi said that if seen at present, not only the ginning industry of Nimar region but the whole country is going through a lot of crisis. Because of the global recession and our industry is very troubled. We want Finance Minister Sitharaman to pay attention in the budget on how to promote the cotton industry.Cotton factories are closing downIn the last few years, many factories of the cotton industry have also closed down. This situation is getting worse. He has expressed hope that there should be a policy so that the country's textile and cotton industry can operate smoothly.Appeal to the government to remove RCMFor the last two or three years, it has been seen that the cotton industry is closing down and the government is not paying attention. If seen in GST, the cotton industry is also very upset with RCM in GST. We have to pay GST on the purchase price of cotton.Requesting for five yearsWe have requested the government many times, but no attention has been paid to it for five years. In this budget, it is expected that the Finance Minister will think about RCM and remove it. This is the intense demand of our cotton industry.Cotton prices are fallingCotton trader Kalyan Agarwal said that he is having some expectations regarding the general budget. He says that cotton is planted in a very large area in Khargone. Cotton is our main crop. The price of cotton has fallen in the world, the price of cotton has fallen. Due to increase in its SP for two consecutive years, cotton has started getting imported from abroad.read more :-Indian Rupee opens 4 paise lower at 86.57 against US Dollar
In relation to the US dollar, the Indian rupee opens 4 paise weaker at 86.57.The rupee fell 4 paise to close at 86.57 against the US dollar in early trade on Wednesday on sustained foreign fund outflows, falling dollar demand from oil importers and weak risk sentiment.At the interbank foreign exchange, the rupee opened at 86.57 and later fell further to 86.61 against the American currency, marking a decline of 4 paise from its previous close.read more :- Indian rupee ended 20 paise lower at 86.53 per dollar on Tuesday versus Monday's close of 86.33.
The Indian rupee closed Tuesday at 86.53 per dollar, 20 paise less than Monday's close of 86.33.At close, the Sensex was up 535.24 points or 0.71 percent at 75,901.41, and the Nifty was up 128.1 points or 0.56 percent at 22,957.25. About 1116 shares advanced, 2429 shares declined, and 84 shares unchanged.read more :- Cotton dropped as CAI has revised upwards its crop projections by 2 lakh bales
Cotton fell as CAI increased its harvest forecasts by two lakh bales.Cotton candy prices fell 0.83% to ₹52,850 as the Cotton Association of India (CAI) raised crop estimates for the 2024-25 season. Estimated cotton production rose by 2 lakh bales to 304.25 lakh bales due to higher production in Telangana, where estimates rose by 6 lakh bales. However, production in North India is expected to fall by 3.5 lakh bales, down 43% from last year, due to lower arrivals of cotton. The WASDE report has also put pressure on prices, which estimated global cotton production for 2024-25 at 117.4 million bales, an increase of 1.2 million bales each due to higher production in India and Argentina. Despite pressure from higher supply estimates, the downside momentum was limited due to strong demand from the apparel industry, which has pushed up cotton yarn prices in South India. Exports are also expected to increase, which will support the demand. As of December, total supply stood at 176.04 lakh bales, including imports of 12 lakh bales and opening stocks of 30.19 lakh bales. Consumption during this period was 84 lakh bales, while exports are estimated at 7 lakh bales. December ending stocks are estimated at 85.04 lakh bales.Long liquidation is going on in the market, with open interest declining by 29.07% to 122 contracts. Cotton candy prices are finding support at ₹52,480, below this level, it is likely to touch ₹52,110. Resistance is seen at ₹53,450, and a move above this is likely to touch ₹54,050 levels.read more :- The rupee opened 17 paise down on January 28 following a surge in the dollar index.
On January 28, the rupee opened 17 paise lower after the dollar index surged.The local currency opened at 86.50 against the dollar but slipped to 86.55. It ended at 86.33 against the dollar in the previous session.The rupee depreciated 11 paise to close at 86.33 (provisional) against the US dollar on Monday, as strong dollar demand and a muted trend in domestic equities weighed on investors' sentiments.read more :- Indian rupee ended 13 paise lower at 86.33 per dollar on Monday versus Friday's close of 86.20.
Monday's closing price of the Indian rupee was 86.33 per dollar, 13 paise less than Friday's finish of 86.20.At close, the Sensex was down 824.29 points or 1.08 percent at 75,366.17, and the Nifty was down 263.05 points or 1.14 percent at 22,829.15. About 541 shares advanced, 3399 shares declined, and 115 shares unchanged.read more :- India cracks down on misdeclared Chinese fabric imports
India takes action against Chinese fabric imports that are not reported. India has intensified efforts to curb the unchecked import of Chinese fabrics, particularly synthetic knitted fabric, following persistent demands from the domestic textile industry. Despite the government’s imposition of a Minimum Import Price (MIP) on 13 HSN codes to control the surge in imports, the measure has proven ineffective as imports have continued to rise under non-MIP codes.In a significant crackdown, the Directorate of Revenue Intelligence (DRI) recently seized 100 containers of Chinese fabric at Mundra Port, estimating their total value at ₹200 crore. The containers, which were falsely declared as carrying low-cost fabric, were found to contain high-quality textiles—an apparent attempt to evade import duties. The operation was launched after authorities received intelligence regarding the large-scale misdeclaration of imported goods.Preliminary investigations suggest that the actual value of the seized fabric far exceeds the declared ₹25 crore. Similar shipments have also been intercepted at other major ports, including Mumbai’s Nhava Sheva Port (Jawaharlal Nehru Port), raising concerns over the scale of the fraudulent operation.Following the seizure, the DRI has initiated a nationwide investigation to identify those responsible for the illegal imports and to trace the goods to their final destinations across India. Authorities are also working to expose the network of importers involved and to determine whether similar fraudulent practices are taking place at other ports.With the DRI’s crackdown uncovering large-scale tax evasion and the textile industry pushing for policy reforms, the Indian government faces mounting pressure to address loopholes in import regulations. The coming months will be crucial in determining the effectiveness of these measures in protecting domestic manufacturers from unfair trade practices.read more :- The local currency opened 8 paise down at 86.36 against the US dollar, as against 86.28 against the greenback at the friday open.
In relation to the US dollar, the local currency opened 8 paise lower at 86.36, compared to 86.28 at the start of Friday.The Indian rupee opened 8 paise lower on January 27 due to the dollar index surging as US Federal Reserve policy is in focus. The local currency opened 8 paise lower at 86.36 against the US dollar, as against 86.28 against the greenback at the previous close.read more :- The Indian rupee increase 25 paise to close at 86.21 per dollar on Friday, as against 86.46 on thursday.
On Friday, the Indian rupee rose 25 paise to close at 86.21 to the US dollar, up from 86.46 on Thursday.The Sensex fell 329.92 points, or 0.43 percent, to 76,190.46, while the Nifty dropped 113.15 points, or 0.49 percent, to 23,092.20. Market breadth showed weakness, with 1,018 stocks advancing, 2,764 declining, and 115 remaining unchanged.read more :- Cotton production to reach 30.4 million bales, big relief for textile industry; Know the forecast of Cotton Association of India
The textile sector would be greatly relieved when cotton production reaches 30.4 million bales. Learn more about the Cotton Association of India's projection.Mumbai: The Cotton Association of India (CAI) has projected an increase in cotton production in the country. Increasing our previous estimate, we have estimated that the country will produce 304.25 lakh cotton bales (one bale = 170 kg cotton) by the end of October 2025 in the 2024-25 season.Cotton is produced in about eleven states of the country. Maharashtra is expected to produce the maximum of 9 million bales this year. After this, Gujarat is estimated to produce 80 lakh bales, Telangana 42 lakh bales, Karnataka 23 lakh bales, Madhya Pradesh 19 lakh bales and Andhra Pradesh 11 lakh bales. Meanwhile, 176.04 lakh cotton bales have been supplied till the end of December. Thus, 1.2 million bales have been imported.According to CAI estimates, 30.19 lakh bales of cotton from the previous season are left in the country. By the end of December, the textile industry had used a total of 8.4 million bales. Seven lakh bales have been exported. Taking into account cotton production, previous years' stocks and potential imports, CAI has estimated a total supply of 359.44 lakh bales in cotton season 2024-25 by the end of September 2025. Meanwhile, traders in the private market are paying Rs 6,500 to Rs 7,000 per quintal for cotton. Therefore, farmers are demanding the Cotton Corporation of India (CCI) to increase procurement at a guaranteed price of Rs 7500 per quintal. Accordingly, CCI has increased procurement. CCI is currently buying 60 to 65 per cent of the cotton coming to the market.read more :- Rupee rises 18 paise to 86.28 against US dollar in early trade
In early trading, the rupee climbs 18 paise to 86.28 against the US dollar.Rupee appreciated 18 paise to 86.28 against the US dollar in morning trade on Friday, supported by positive domestic equities and soft American currency index.At the interbank foreign exchange, the rupee opened at 86.31 and touched 86.28 against the US dollar, registering a rise of 18 paise from its previous close. The local unit also touched 86.33 against the US dollar initial trade.read more :- Indian rupee ended 13 paise lower at 86.46 per dollar on Thursday versus Wednesday's close of 86.33.
The Indian rupee closed at 86.46 per dollar on Thursday, 13 paise less than its closing price of 86.33 on Wednesday.Indian equity indices ended on a positive note with Nifty at 23,200 on January 23.At close, the Sensex was up 115.39 points or 0.15 percent at 76,520.38, and the Nifty was up 50 points or 0.22 percent at 23,205.35. About 2017 shares advanced, 1780 shares declined, and 104 shares unchanged.Read More :- Tamil Nadu: Unseasonal rains hit cotton cultivation in Perambalur district
Tamil Nadu: Perambalur district's cotton cultivation is impacted by unseasonable rainfallPerambalur: The recent unseasonal rains have affected cotton cultivation in several villages in the district, leaving farmers worried about low yields. They have urged the government to provide immediate compensation to make up for the losses. Official sources say cotton was cultivated on over 5,000 hectares of land in the district this season.However, unseasonal rains this crop season have led to cotton seeds rotting and many flowers and branches falling. Also, farmers say the ripe seeds have got wet due to the rains. Wetting of ripe seeds affects their quality, making it difficult for farmers to sell them at good prices.Sources said the minimum support price (MSP) of the crop is Rs 7,521 per quintal, while the market price is around Rs 5,500 per quintal. Farmers have submitted petitions to the district collectorate and the agriculture department seeking compensation.K Ulaganathan of Vayalur said, "I had sown cotton in 4 acres, spending Rs 40,000 per acre. When it was harvested 10 days ago, all the flowers on the plants had fallen and the ripe seeds had also rotted due to unexpected rains. Usually I harvest 10 quintals per acre.But this time, it is difficult to get even 2 quintals from an acre. I fear I will not be able to recover my investment." D Durai, another farmer from Kurumbapalayam, said, "I had sown cotton in 3 acres, but the unexpected rains ruined everything. For the last two years, we were getting good prices for cotton. However, this season the prices have fallen. We need assistance from the government to deal with the crisis.""Drying the wet ripe seeds does not help us get the right price, rather we have to work twice as hard. Also, there is no direct purchase centre here to sell the cotton," he said. S Babu, Joint Director of Agriculture Department in Perambalur, was not available for comment. Meanwhile, another official of the Agriculture Department in Perambalur said, "We are aware of the damage. We will inspect and take action."read more :- Maharashtra: Wardha farmer harvests 24 quintals of cotton per acre through HDPS
Maharashtra: Using HDPS, a Wardha farmer harvests 24 quintals of cotton per acre.Nagpur: Dilip Pohane, a farmer from Hinganghat in Wardha district, harvested a record-breaking crop of 24 quintals of raw cotton per acre in his fields using the High Density Planting System (HDPS). The central government is pushing for the adoption of HDPS to increase cotton production in line with international standards.Currently, countries like the US produce more than 2,000 kg of lint per hectare, while India's ratio is less than 400 kg per hectare. The close-spacing method of growing more crops in less space has already been adopted by 1,500 farmers in Akola and farmers in Wardha and Nagpur are also adopting it. More than 550 cotton farmers from Nagpur and Wardha districts participated in the project and recorded a three-fold increase in the production of the cash crop in 2023-24.After huge support from more farmers, the central government is planning to bring 50,000 hectares under HDPS in Akola alone. Pohane was felicitated by CITI-CIDRA during a review of the HDPS project in the city on Wednesday. CITI-CIDRA (Confederation of Indian Textile Industry-Cotton Development and Research Association) is the implementing agency through ICAR-Central Cotton Research Institute. The textiles ministry implemented a pilot project for HDPS through CITI-CIDRA, giving a subsidy of Rs 16,000 per hectare on seeds besides assistance in sowing using machines in 3x1 rows. So far, farmers were getting an average of 12-15 quintals of cotton under the pilot. Cotton experts said 24 quintals broke the record. Farmers get about 6-7 quintals of cotton when they use traditional planting methods.read more :- Rupee declines 7 paise to 86.40 against US dollar in early trade
| title | Created At | Action |
|---|---|---|
| Indian rupee opened flat at 86.63 against US dollar | 31-01-2025 10:32:08 | view |
| India Budget 2025-26: Will demands of textile industry be addressed? | 30-01-2025 16:19:03 | view |
| Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57. | 30-01-2025 15:48:30 | view |
| Textile Industry seeks curbs on underbilled Chinese imports, duty-free cotton | 30-01-2025 11:04:18 | view |
| Rupee falls 2 paise to 86.57 against US dollar in early trade on Thursday. | 30-01-2025 10:34:53 | view |
| The Indian rupee on Wednesday closed 2 paise marginally higher at 86.55 per dollar, as against 86.57 per dollar open on morning . | 29-01-2025 15:50:09 | view |
| Khargone's cotton industry is breaking down, traders have high expectations from the Finance Minister in the budget | 29-01-2025 13:00:14 | view |
| Indian Rupee opens 4 paise lower at 86.57 against US Dollar | 29-01-2025 10:43:38 | view |
| Indian rupee ended 20 paise lower at 86.53 per dollar on Tuesday versus Monday's close of 86.33. | 28-01-2025 15:48:42 | view |
| Cotton dropped as CAI has revised upwards its crop projections by 2 lakh bales | 28-01-2025 11:14:20 | view |
| The rupee opened 17 paise down on January 28 following a surge in the dollar index. | 28-01-2025 10:36:30 | view |
| Indian rupee ended 13 paise lower at 86.33 per dollar on Monday versus Friday's close of 86.20. | 27-01-2025 15:52:04 | view |
| India cracks down on misdeclared Chinese fabric imports | 27-01-2025 15:17:45 | view |
| The local currency opened 8 paise down at 86.36 against the US dollar, as against 86.28 against the greenback at the friday open. | 27-01-2025 10:55:35 | view |
| The Indian rupee increase 25 paise to close at 86.21 per dollar on Friday, as against 86.46 on thursday. | 24-01-2025 15:59:47 | view |
| Cotton production to reach 30.4 million bales, big relief for textile industry; Know the forecast of Cotton Association of India | 24-01-2025 11:16:17 | view |
| Rupee rises 18 paise to 86.28 against US dollar in early trade | 24-01-2025 10:35:42 | view |
| Indian rupee ended 13 paise lower at 86.46 per dollar on Thursday versus Wednesday's close of 86.33. | 23-01-2025 15:50:56 | view |
| Tamil Nadu: Unseasonal rains hit cotton cultivation in Perambalur district | 23-01-2025 11:52:43 | view |
| Maharashtra: Wardha farmer harvests 24 quintals of cotton per acre through HDPS | 23-01-2025 11:28:22 | view |
