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World Bank raises India's growth forecast to 7.2% for FY2026, sees limited impact from US tariffsThe upgraded outlook is also driven by robust domestic consumption, recent tax cuts, and higher real rural incomes.The World Bank has revised India's FY2026 growth forecast to 7.2 percent, citing resilient domestic demand despite higher US tariffs. This marks a significant increase from the 6.3 percent estimate made in June 2025.However, according to the World Bank's latest Global Economic Prospects report, assuming the 50 percent tariffs imposed by the Trump administration remain in place throughout the forecast period, growth is expected to moderate to 6.5 percent in FY27.The agency said that stronger-than-expected domestic demand and improved consumption patterns would mitigate the impact of higher US tariffs on India. The upgraded outlook is also driven by robust domestic consumption, recent tax cuts, and higher real rural incomes.The World Bank report stated: "In SAR, the projected slowdown in 2026 primarily reflects the impact of increased US tariffs on India’s goods exports. Growth in the South Asia region (SAR) is poised to rebound in 2027, as exports recover and domestic demand firms, supported by strong services activity as the effects of political uncertainty in several economies dissipate."However, it cautioned that despite the strong performance of services exports, the US tariffs could dampen India's goods exports and impact overall growth. Expressing concerns over large fiscal deficits and spending pressures, the World Bank said it expects India's fiscal deficit to gradually decline through consolidation measures.The agency added that the continued rapid growth, led by India, is expected to support further economic convergence along with a significant reduction in poverty rates. In 2026, growth in South Asia is projected to slow to 6.2 percent, primarily due to the impact of increased US tariffs on India."This year's forecast has been revised down by 0.2 percentage points compared to the June estimates. The revision reflects higher US import tariffs than previously anticipated and updated assumptions about the timing of tariff effects—from 2025 to early-to-mid 2026—and the subsequent recovery."The report further notes that, excluding India, growth in the region is expected to strengthen to 5 percent in 2026 and 5.6 percent in 2027.read more :- The rupee opened 07 paisa lower against the dollar at 90.25

Indian rupee opens 07 paise lower at 90.25 against US dollarIndian rupee opened with marginal losses at 90.25 per dollar on Wednesday versus previous close of 90.18.read more :- Rupee rise 07 paisa to close at 90.18 per dollar 

The Indian rupee on Tuesday rise 07 paise to close at 90.18 per dollar, compared to its opening price of 90.25 in the morning.At close, the Sensex was down 250.48 points or 0.30 percent at 83,627.69, and the Nifty was down 57.95 points or 0.22 percent at 25,732.30. About 1870 shares advanced, 1942 shares declined, and 158 shares unchanged.read more :- Gujarat's textile industry: engine of employment and sustainable development

The Indian rupee on Tuesday rise 07 paise to close at 90.18 per dollar, compared to its opening price of 90.25 in the morning.At close, the Sensex was down 250.48 points or 0.30 percent at 83,627.69, and the Nifty was down 57.95 points or 0.22 percent at 25,732.30. About 1870 shares advanced, 1942 shares declined, and 158 shares unchanged.read more :- Gujarat's textile industry: engine of employment and sustainable development

Gujarat's textile industry has emerged as a key driver of development through job creation and sustainable growth.The second day of the Vibrant Gujarat Regional Conference (VGRC) in Rajkot focused specifically on the textile industry. The state's textile sector is a crucial source of development as it generates new employment opportunities and is a sustainable industry.Experts discussed this topic in detail and shared their views during a seminar, the Chief Minister's Office said in a press release.The textile industry is not just a sector producing textile products, but a driving force behind Gujarat's economic transformation. Through new technologies, job creation, and sustainable development, this industry is making a significant contribution to the development of the state and the country.At the VGRC, experts shared their insights on new aspects of this industry, technologies, and how to increase textile exports globally.Prominent figures present at the seminar included Updeep Singh, Resident Director of Welspun Group; Prashant Agarwal, Joint Managing Director of Wazir Group; D.S. Patel, Scientist at the Cotton Research Center, Navsari University; Ashwin Chandra, Chairman of CITI; and Vinay Kotak, President of the Cotton Association of India.Speaking at the event, these prominent individuals stated that the textile industry in Gujarat has witnessed remarkable development.The release stated, "This industry has carved a niche for itself in the global market. To remain globally competitive in the textile industry, it has become crucial to develop capabilities in innovative technologies and new designs. Today, fashion plays a very important role in the textile industry, but to keep pace with the ever-changing fashion trends, the use of innovative technologies is essential."Globally, the textile industry is estimated to be worth approximately USD 900 billion. To meet the growing demand for textiles over time, it will be necessary to adopt innovative technologies, while also prioritizing design and quality. Cotton is produced in 11 states of India, with Gujarat, Maharashtra, Rajasthan, Punjab, and Haryana leading in production. Gujarat, in particular, produces a significant amount of cotton.The release further states that today, farmers in Gujarat have been able to significantly increase their production through the use of BT cotton. This high-quality cotton also fetches them better prices. The development of the textile sector cannot be achieved by the government alone; farmers, companies, and the government must work together for the development of this sector. Only then will cotton production increase, and we will succeed in doubling farmers' incomes.The industry is moving forward today through innovative technology, innovation-driven production methods, and eco-friendly manufacturing. The textile industry makes a significant contribution to the state's GDP and export sector. It also promotes small and medium enterprises, thereby increasing employment. The industry has strengthened the employment structure in both the handicraft and machinery sectors. Training and skill development programs have also been implemented for workers and artisans.Sustainable development and innovative technology have encouraged the sector to adopt environmentally friendly practices. New technologies such as recycling, water conservation, and energy saving are being used. Global competition, raw material prices, and changing market demands are challenges for the industry; however, new production methods, digitalization, and new marketing strategies will further strengthen the industry, the release added.read more :-Budget 2026: Demand to remove cotton import duty

Budget 2026: Textile industry body seeks permanent removal of cotton import duty; flags cost pressure, ex.The Confederation of Indian Textile Industry (CITI) has urged the government to permanently remove the 11 per cent import duty on cotton in the Union Budget 2026, warning that the levy is aggravating cost pressures and hurting the global competitiveness of domestic textile and apparel manufacturers, PTI reported.A CITI delegation met Union Agriculture Minister Shivraj Singh Chouhan last week, seeking his intervention for the permanent removal of the import duty on cotton of all varieties, the industry body said on Monday.India’s textile industry — the country’s second-largest employment generator — depends on stable access to high-quality cotton. Against a persistent demand–supply gap, the government had extended the import duty exemption on cotton until December 31, 2025, a move that was welcomed by textile associations.However, with no further notification issued, the 11 per cent duty was reinstated from January 1, 2026. CITI said the move would adversely impact the competitiveness of India’s textile and apparel sector.The minister assured the delegation that the concerns raised would be carefully examined during the review process, CITI said.The industry body also flagged a steady decline in domestic cotton production, which it said is projected to fall to its lowest level in nearly two decades this year, intensifying concerns over supply shortages.CITI argued that reimposing the import duty would further aggravate cost pressures for manufacturers. It pointed out that over the past decade, India’s average cotton imports stood at around 20 lakh bales, accounting for about 6.8 per cent of average domestic production.Imports, the industry body said, are largely quality- and specification-driven, catering to specialised requirements and back-to-back export orders, and do not displace domestic cotton.CITI also highlighted that competing textile-exporting countries such as Bangladesh and Vietnam allow duty-free cotton imports, giving them a structural cost advantage in global markets.The demand comes at a time when the textile and apparel sector — one of India’s largest sources of employment and livelihoods — is facing fresh headwinds from a 50 per cent US tariff effective August 27, 2025. Cotton-based products dominate India’s textile exports.The US is India’s single-largest textile and apparel export destination, accounting for nearly 28 per cent of total export revenues. Exports to the US were valued at close to $11 billion in FY2024-25, according to industry data.read more :- The rupee opened 09 paise lower at 90.25/USD.

The rupee opened 09 paise lower at 90.25 per dollar.Indian rupee opened lower at 90.25 per dollar on Tuesday versus previous close of 90.16.read more :-INR Gains 05 Paise, Closes at 90.16 per Dollar 

The Indian rupee on monday higher 05  paise to close at 90.16 per dollar, while it opened at 90.21 in the morning.At close, the Sensex was up 301.93 points or 0.36 percent at 83,878.17, and the Nifty was up 106.95 points or 0.42 percent at 25,790.25. About 1365 shares advanced, 2561 shares declined, and 158 shares unchangedread more :- Rupee opens 05 paise down at 90.21

The Rupee opened 05 paise lower at 90.21 against the US dollar. Indian rupee opened lower at 90.21 per dollar on Monday versus Friday's close of 90.16.read more :- State-wise CCI cotton sales details (2024-25)

State-wise CCI Cotton Sales Details – 2024-25 SeasonThe Cotton Corporation of India (CCI) increase its cotton prices by up to ₹800 - ₹1200 per candy this week and sold approximately 98,53,300 bales for the season 2024-25. This represents around 98.53% of the total cotton procured so far this season.A state-wise breakdown of sales indicates strong activity from Maharashtra, Telangana, and Gujarat, which together account for over 83.92% of the total sales to date.This data underscores CCI’s proactive efforts in stabilizing the cotton market and ensuring steady supply across key cotton-producing states.read more:-  US Supreme Court will take important decision on Trump tariffs and voting rights

US Supreme Court to Rule on Donald Trump Tariffs and Major Cases Including Voting Rights Act and Colorado ConvUS Supreme Court plans rulings for January 14 as Donald Trump's tariffs remain undecidedThe US Supreme Court will rule on Donald Trump's global tariffs, presidential powers, the Voting Rights Act, and Colorado's conversion therapy ban on January 14, impacting law and the global economy.The US Supreme Court is expected to issue its next rulings on January 14 as several major cases remain pending including the legality of US President Donald Trump's sweeping global tariffs.The court indicated on its website on Friday (January 9) that it could release decisions in argued cases when the justices take the bench during a scheduled sitting next Wednesday (January 14). The court does not announce in advance what cases will be decided.The justices issued one ruling on Friday in a criminal case.The challenge to Trump's tariffs marks a major test of presidential powers as well as of the court's willingness to check some of the Republican president's far-reaching assertions of authority since he returned to office in January 2025. The outcome will also impact the global economy.During arguments in the case heard by the court on November 5, conservative and liberal justices appeared to cast doubt on the legality of the tariffs, which Trump imposed by invoking a 1977 law meant for use during national emergencies. Trump's administration is appealing rulings by lower courts that he overstepped his authority.Trump has said tariffs have made the United States stronger financially. In a social media post on January 2, Trump said a Supreme Court ruling against the tariffs would be a "terrible blow" to the United States.Trump invoked the International Emergency Economic Powers Act to impose so-called "reciprocal" tariffs on goods imported from individual countries - nearly every foreign trading partner - to address what he called a national emergency related to US trade deficits.He invoked the same law to impose tariffs on China, Canada and Mexico, citing the trafficking of the often-abused painkiller fentanyl and illicit drugs into the United States as a national emergency.The challenges to the tariffs in the cases before the Supreme Court were brought by businesses affected by the tariffs and 12 US states, most of them Democratic-governed.read more :-CCI increases cotton prices by ₹800-₹1200, weekly volume 2.23 lakh bales