Recent News

Small, High-Income Markets and New-Age Fibers Key to Textile Exports: Giriraj SinghTextiles Minister Giriraj Singh said India aims to increase its textile and apparel exports from approximately $40 billion to $100 billion in the next five years by targeting small, high-income markets, launching a ₹5,000 crore cotton productivity mission, adopting high-density planting, and promoting new-age fibers like milkweed, ramie, and flax.He told ET that the government is also now focusing on domestic manufacturing of textile machinery currently imported from China, Germany, and Japan, while employment in the sector is expected to increase from the current 45 million to 80 million by 2031."We are focusing on smaller countries with high per capita income and are also working on a warehouse hub and spoke model for small apparel manufacturers to boost exports," Singh said.He added that India's 15 Free Trade Agreement (FTA) partners offer a $198 billion textile market, while the country's exports to these markets currently stand at only $11.5 billion. India's domestic textile market is currently valued at $180 billion and is projected to reach $350 billion in the next five years."To meet the growing demand, the target is to produce 25 million tonnes of fiber in the future," the minister said. He emphasized that the government aims to increase exports of technical textiles from approximately $4 billion to $10 billion by 2030 under the Production Linked Incentive (PLI) scheme. The PLI scheme for man-made fiber (MMF) apparel, MMF fabrics, and technical textiles products has helped attract an estimated investment of ₹31,270 crore from 91 beneficiary companies. Exports worth ₹733 crore and a turnover of ₹7,290 crore have been achieved by the end of September. The action plan is crucial because India is the world's sixth-largest exporter of textiles, accounting for nearly 5% of global trade.Amidst the 50% tariffs imposed by the US, India is working on dedicated outreach programs in 40 countries, including the UK, UAE, Russia, Japan, and South Korea, to boost textile exports. He said, "These markets were selected before the tariffs were implemented (in August), and exports to 39 of these selected countries have increased in the last few months."Collectively, these 40 countries represent over $590 billion in textile and apparel imports, offering India significant opportunities to expand its market share.Singh added that the challenge lies in meeting domestic demand. "The first goal is to meet the demand of the domestic market and then focus on exports. The use of AI-based inspection has reduced the production of defective garments by 80%, which will ensure quality and facilitate exports to quality-conscious economies like Korea and Japan."read more :- India-Oman FTA to boost textile trade.

India–Oman FTA poised to boost textile tradeThe proposed India–Oman Free Trade Agreement (FTA) is expected to create significant opportunities across a wide range of sectors, including textiles, food processing, automobiles, gems and jewellery, agrochemicals, renewable energy and auto components, according to India’s minister for commerce and industry, Piyush Goyal.Addressing the India–Oman Business Forum in Muscat on Wednesday, Goyal said the agreement had the potential to substantially deepen economic engagement between the two countries, particularly with Oman positioned as a strategic gateway to the Gulf Cooperation Council region, as well as to Eastern Europe, Central Asia and Africa. He noted that the scope for growth under the pact was extensive, given Oman’s geographic and trade linkages.The FTA is scheduled to be signed on Thursday in Oman in the presence of Prime Minister Narendra Modi. Once implemented, the agreement is expected to reduce or eliminate tariffs, lower trade barriers and improve market access for Indian exporters, enabling them to compete more effectively in the region.Textiles, which account for a significant share of India’s overall exports, are set to benefit in particular. The agreement is expected to provide preferential access to the Omani market, allowing Indian textile manufacturers to offer products at more competitive prices. The pact is also aligned with India’s broader strategy to diversify its trade partnerships, strengthen economic ties with West Asia and reduce reliance on traditional export markets.Negotiations for the India–Oman Comprehensive Economic Partnership Agreement began in November 2023 and were concluded earlier this year. The deal will be Oman’s first free trade agreement in nearly two decades.At the same forum, Oman’s minister of commerce, industry and investment promotion, Qais Al Yousef, said India had emerged as the country’s third-largest trading partner and highlighted Oman’s continued importance as a destination for Indian investments across strategic sectors.Bilateral goods trade between India and Oman totalled approximately $10.5 billion in the 2024–25 financial year, underlining the growing economic relationship between the two nations.read more :- The rupee opened 10 paise higher at 90.15 against the dollar.

Rupee opened 10 paise higher at 90.15/USDThe domestic currency opened at 90.15 against the US dollar, as compared to 90.25 against the greenback at previous close.read more :- The rupee closed 12 paise higher at 90.25 against the dollar.

On Thursday, the Indian rupee closed 12 paise higher at 90.25 against the dollar, after opening at 90.37.At the close of the market, the Sensex fell 77.84 points, or 0.09 percent, to 84,481.81, and the Nifty declined 3 points, or 0.01 percent, to 25,815.55. Approximately 1,575 shares advanced, 2,399 declined, and 174 remained unchanged.Read more :-  The rupee opened stable at 90.37/USD.

The rupee opened stable at 90.37/USD.The Indian rupee opened steady at 90.37 per dollar on Thursday, compared to its previous close of 90.37.Read more :-   Rupee higher 71 paise to close at 90.37 per dollar

The Indian rupee higher 71 paise to close at 90.37 per dollar on Wednesday, compared to 91.08 in the morning.At close, the Sensex was down 120.21 points or 0.14 percent at 84,559.65, and the Nifty was down 41.55 points or 0.16 percent at 25,818.55. About 1326 shares advanced, 2498 shares declined, and 144 shares unchanged.read more :- India's textile exports are strong in over 100 countries. 

India's Textile Exports Grew by 4.6% in the Last Four Financial Years, Exports Increased to Over 100 CountriesIndia's exports of textiles and apparel, including handicrafts, have registered an annual growth of 4.6 percent over the last four financial years, rising from USD 31.58 billion in 2020-21 to USD 37.75 billion in 2024-25. This growth has been recorded across more than 100 countries, Parliament was informed.Union Textiles Minister Giriraj Singh told the Rajya Sabha that despite shifts in global supply chains since the pandemic, India's export performance has remained robust. This growth is attributed to strong demand for ready-made garments, cotton and man-made fiber textiles, carpets, and handicrafts.The Minister stated that the government has adopted a multi-pronged strategy to enhance global competitiveness across the entire textile value chain, including high-value segments, while modernizing domestic infrastructure.As part of this effort, seven PM MITRA parks have been sanctioned with significant investments to create integrated textile infrastructure. The Production Linked Incentive (PLI) scheme for textiles has also been expanded to attract substantial investments in man-made fiber apparel, fabrics, and technical textiles.Support for research and development, innovation, and market development has been strengthened through the National Technical Textiles Mission. Skilling and technology upgradation are being promoted through schemes like SAMARTH and Silk Samagra-2.An Export Promotion Mission has been launched to improve trade finance, market access, branding, and compliance for exporters, supported by 100 percent credit guarantee for MSMEs.To support traditional artisans, the Ministry is implementing programs that provide raw material assistance, upgraded equipment, solar lighting, marketing support, concessional loans, and social security. Under the Handloom Promotion Assistance Scheme, thousands of weavers have received upgraded looms and accessories. The inclusion of artisans on the India Handmade e-commerce portal and government marketplaces has also expanded market access and direct sales opportunities.read more :- Launch of BT cotton: BT seeds of straight varieties launched.

BT Cotton Launch: Launch of BT Seeds of Straight Cotton VarietiesChief Minister Devendra Fadnavis launched BT seeds of three straight varieties of cotton developed by Vasantrao Naik Marathwada Agricultural University (VNMKV) at the inauguration ceremony of 'Joint Agresco' on Thursday (29). VNMKV is the first agricultural university in the state to have converted straight varieties of cotton into BT varieties and made them available to farmers.Agriculture Minister Manikrao Kokate, Minister of State Ashish Jaiswal, Guardian Minister Meghna Sakore-Bordikar, MP Sanjay Jadhav, Vice-Chancellor Dr. Indra Mani, Research Director Dr. Khizar Beg, and others were present on the occasion. NH 1901 BT, NH 1902 BT, and NH 1904 BT are three American straight varieties of cotton that have been converted into BT varieties by the VNMKV Cotton Research Center in Nanded.The seeds of these varieties have been made available to farmers for sale this year. These varieties are straight and tolerant to sucking pests, bacterial blight, leaf spot disease, etc.  Consistent yields of these varieties have been observed in dryland farming at various centers in Central India.This variety of cotton has a ginning percentage of 35 to 37 percent, and its fiber length, strength, and fineness are good. Cultivation of this variety is recommended in the states of Maharashtra, Gujarat, and Madhya Pradesh in Central India.Outstanding Agricultural Researcher AwardChief Minister Devendra Fadnavis honored scientists from the state's four agricultural universities who have performed outstandingly in research work at 'Joint Agresco' with the 'Outstanding Agricultural Researcher Award 2025'.Dr. Madan Pendke from VNMKV, Dr. Sunil Kadam from Mahatma Phule Agricultural University, Dr. Santosh Gahukar from PDKV, and Dr. Vijay Dalvi from Balasaheb Sawant Konkan Agricultural University were honored.Read more :- Maharashtra: Rising cotton prices are a key focus for farmers.

Maharashtra: Farmers Focus on Rising Cotton PricesDongaon: Farmers in Jafrabad taluka are anxiously waiting for cotton prices to rise.  While the government has started purchasing cotton through the Cotton Corporation of India (CCI) in other talukas, the guaranteed price center in Jafrabad taluka is yet to open. As a result, farmers are forced to sell their cotton at a loss.Guaranteed price centers are supposed to purchase cotton from farmers. However, the government has imposed a new condition on these purchases, causing significant hardship for farmers. They are demanding that this condition be removed and that ten quintals per acre be purchased from farmers with 40 R land. Meanwhile, private ginning factories are buying cotton for up to Rs. 7,200, further impacting farmers' finances.This year, the Kharif season crops, including cotton, soybeans, mung beans, urad beans, groundnuts, and other vegetables, have been severely damaged due to heavy rains. This has led to a significant reduction in the yield of major crops like cotton and soybeans. Since private traders and ginning factories are offering lower prices than the guaranteed price centers, farmers are demanding that cotton be purchased and sold at a rate of Rs. 11,000 to Rs. 12,000 per quintal.New cotton has been arriving for the past two and a half to three months. However, the government is not offering fair prices, leading to farmers repeatedly falling into debt due to the lack of a proper market for cotton and soybeans at the open price centers.Shaikh Kaleem, Farmer, DongaonThe government should remove the new condition at the guaranteed price centers and reinstate the old one. Cotton should be purchased and sold at Rs. 10,000 to Rs. 12,000 per quintal. The significant disparity in cotton prices is causing difficulties for the government. The government should purchase cotton at Rs. 10,000 to Rs. 12,000 per quintal at both the guaranteed price centers and private ginning factories.read more :- BGMEA: Bangladesh needs a rapid shift towards non-cotton products.

Bangladesh must accelerate shift to non-cotton products: BGMEABangladesh’s garment sector must urgently accelerate product and market diversification to ensure long-term sustainability and maintain its global competitiveness, according to senior industry leaders.Speaking at a conference hosted by Hyosung at the BGMEA Complex in Dhaka, Inamul Khan-Bablu, Senior Vice President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the industry needed to place far greater emphasis on diversified apparel production using synthetic fibres and other non-cotton materials.He pointed out that while nearly 75% of global textile and apparel products are made from non-cotton materials, Bangladesh’s export basket remains heavily skewed towards cotton-based garments, with only 27% comprising non-cotton products. He said this disparity underscored a significant and largely untapped opportunity for the country’s apparel industry.Khan-Bablu noted that global fashion and textile markets are increasingly shifting towards synthetic, blended and functional fabrics, driven by changing consumer preferences and performance requirements. However, Bangladesh continues to depend predominantly on cotton-based manufacturing, creating what he described as a structural imbalance that must be addressed to protect and expand the country’s share in global markets.Despite the challenges, he said there were encouraging signs of progress. The share of non-cotton products in Bangladesh’s apparel exports is gradually increasing, reflecting positive momentum within the industry and signalling stronger prospects for future growth.The session was also attended by BGMEA Director Joarder Mohammad Hosne Komor Alam, alongside industry stakeholders and representatives from the textile and apparel sector.read more :- Rupee fell 05 paise to open at 91.08/USD

Against the dollar, the rupee fell by 05 paise to open at 91.08The Indian rupee opened at 91.08 against the dollar on Wednesday, while it closed at 91.03 on Tuesday.Read more :-The rupee fell by 24 paise to close at 91.03 per dollar