The Indian rupee closed at 86.33 per dollar on Wednesday, 25 paise higher than its finish of 86.58 on Tuesday.At close, the Sensex was up 566.63 points or 0.75 percent at 76,404.99, and the Nifty was up 130.70 points or 0.57 percent at 23,155.35. About 1110 shares advanced, 2677 shares declined, and 107 shares unchanged.read more :- India Budget 2025: Textile budget may rise 15 per cent to $578 mn
India's 2025 budget for textiles could increase by 15% to $578 million. India may increase the budget allocation by 15 per cent for the Ministry of Textiles for the next financial year 2025-26 in the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman will present the Union Budget on February 1 for the next fiscal year. There are expectations that budget allocations for the Ministry will exceed ₹5,000 crore ($578 million) for the next fiscal year.A close analysis of previous years’ budgets reveals patchy allocations and utilisation of funds. The government allocated ₹4,417 crore ($510 million) for the current fianancial year 2024-25, which was a 28 per cent higher allocation compared to the revised budget of ₹3,443 crore ($397 million) for the fiscal year 2023-24. The budget allocation was quite higher at ₹4,389 crore ($507 million) for fiscal year 2023-24. However, the ministry could utilise only ₹3,443 crore ($397 million) during the fiscal year. This reveals that the budget allocation for fiscal year 2024-25 was just 0.63 per cent higher than the budget allocation for fiscal year 2023-24.Interestingly, the budget allocation for fiscal year 2023-24 was 32.6 per cent higher than the actual budget of ₹3,309 crore ($382 million) in fiscal year 2022-23. The India budget portal has not released the revised/actual budget for the current fiscal year 2024-25, which may be lower than the budget allocation. The ministry’s revised/actual budget remained very low at ₹3,309 crore ($382 million) in 2022-23 and ₹3,443 crore ($397 million) in 2023-24.The finance minister is likely to increase the budget allocation by 33 per cent for the Production Linked Incentive (PLI) scheme for textiles, with its allocation expected to rise from ₹45 crore ($5.20 million) to ₹60 crore ($6.93 million). The PLI scheme for textiles was launched in 2021 to promote the production of man-made fibre (MMF) apparel, MMF fabrics, and technical textile products. It was aimed at helping the textiles industry scale up and compete globally.According to an official, the government has ambitious targets for the textiles sector and is exploring measures to encourage domestic manufacturing. The finance minister may announce other initiatives for the textile industry.read more :- Cotton prices stable: Farmers are getting loss-making prices
Cotton prices are steady, and farmers are receiving prices that are losing money.There is still no increase in the price of cotton; farmers have to sell at low prices.Jalgaon News: Farmers in the Bhusaval taluka of Jalgaon district are in a lot of trouble due to unseasonal rains. The unseasonal rains have affected the crops of cotton, soybean and maize, resulting in a drop in production.Bhusaval (Jalgaon): The wait for a hike in the price of cotton is still on. Farmers have stored cotton in the hope of a price hike. However, there is no sign of any initiative from the government regarding the price hike. This has put the farmers in trouble and wondering how long they will be able to keep the cotton in their homes, some farmers are reluctantly selling cotton to traders at low prices.Farmers in the Bhusaval taluka of Jalgaon district are in a lot of trouble due to unseasonal rains. Crops like cotton, soybean and maize have been affected by the unseasonal rains. This has led to a drop in production and it is seen that farmers are not getting good prices. Sooner or later cotton will get a good price; Anticipating this, farmers had stored cotton at home.Farmers have lamented that they are not getting the desired price, as the government has not yet taken any decision on the price increase of cotton. The math of farmers has gone wrong as the stored cotton is not getting a good price in anticipation of a fall in market price and price increase. Farmers have been storing cotton at home since Diwali. Since cotton prices have remained between Rs 6,500 to Rs 7,000 since the beginning, farmers are storing cotton at home.read more :- Indian rupee opens almost flat at 86.56 against US dollar
In relation to the US dollar, the Indian rupee opens nearly flat at 86.56.The local currency opened at 86.56 against the US dollar, and by 9:30 AM it traded at 86.59 against the US dollar, as compared to 86.58 at close on the previous trading session against the greenback.Indian rupee opened almost flat on January 22 and then fell marginally due to outflows from foreign investors.read more :- Indian rupee ended at 86.58 per dollar on Tuesday versus previous close of 86.56.
Tuesday saw the Indian rupee conclude at 86.58 to the US dollar, down from its previous level of 86.56.At close, the Sensex was down 1,235.08 points or 1.60 percent at 75,838.36, and the Nifty was down 320.10 points or 1.37 percent at 23,024.65. About 1019 shares advanced, 2552 shares declined, and 79 shares unchanged.read more :- KHAGA appeals to Nirmala Sitharaman to reject GST hike for textile industry
KHAGA urges Nirmala Sitharaman to oppose the textile industry's GST hike. The Karnataka Household and Garment Association (KHAGA) has written to Union Finance Minister Nirmala Sitharaman to urge her to abandon the idea in response to news that the Goods and Services Tax (GST) rates for the apparel and textile industry may be revised.The local apparel and textile industry’s trade group, KHAGA, emphasised the revision’s potential economic and social effects on pricing, manufacturing, and consumer demand.The association expressed worries about the possible loss of jobs in the industry in the event that GST rates are hiked. According to KHAGA, any tax increase would increase the financial strain currently experienced by the garment and textile sector, which employs a sizable number of unskilled and semi-skilled workers, many of whom are women, endangering many livelihoods.KHAGA president Prakash Bhojani stated that if ethnic garments, typically bought for weddings and celebrations, are categorised under luxury tax, they will become unaffordable for many. He added that this could reduce consumption during cultural and festive occasions, ultimately slowing down the economy.Additionally, the group said that changing the GST rates would drive firms and consumers to unofficial marketplaces. While illegitimate merchants would profit from this change, respectable retailers would suffer.read more :- Cotton prices fall as WASDE forecasts higher production and ending stocks for 2024/25 crop year
As WASDE projects increased production and ending stocks for the 2024–2025 crop year, cotton prices decline.Cotton candy prices fell 0.45% to close at ₹53,670 on bearish sentiment following a WASDE report that forecast higher production and ending stocks for the 2024/25 crop year. Global cotton production is estimated to rise by 1.2 million bales to 117.4 million due to large crops in India and Argentina. However, north Indian states reported a sharp 43% drop in cotton arrivals till November 30, leading to a shortage of raw material for ginners and spinners. The Cotton Association of India (CAI) estimates cotton consumption for 2024/25 at 313 lakh bales, while the pressing estimate remains unchanged at 302.25 lakh bales.Cotton imports are expected to rise by 9.8 lakh bales to 25 lakh bales compared to last year. Nearly 9 lakh bales had arrived at Indian ports till November 30. Ending stocks for 2024/25 are estimated at 26.44 lakh bales, down from 30.19 lakh bales in the previous year. Globally, US cotton production forecast rose to 14.3 million bales in December, while world production rose to 117.4 million bales. World consumption rose by 570,000 bales, led by India, Pakistan and Vietnam, offsetting a shortfall in China. Meanwhile, exports are slightly higher, with notable growth in Brazil, Benin and Cameroon.Technically, the market is witnessing long liquidation as open interest fell 19.29% to 297. Prices are supported at ₹53,490, with potential downside to ₹53,300. Resistance is seen at ₹53,940, and break above this level could test ₹54,200.read more :- Rupee rises 17 paise to 86.28 against US dollar in early trade
In early trading, the rupee climbs 17 paise to 86.28 against the US dollar.Rupee appreciated 17 paise to 86.28 against the US dollar in morning trade on Tuesday, as the US dollar index and crude oil prices retreated from their elevated levels.At the interbank foreign exchange, the rupee opened at 86.28, registering a rise of 17 paise from its previous close of 86.45 against the greenback. The local unit also touched 86.43 against the US dollar initial trade.read more :- Indian rupee ended marginally higher at 86.56 per dollar on Monday versus Friday's close of 86.61.
The Indian rupee closed at 86.56 to the dollar on Monday, slightly higher than its close of 86.61 on Friday.At close, the Sensex was up 454.11 points or 0.59 percent at 77,073.44, and the Nifty was up 141.55 points or 0.61 percent at 23,344.75. About 2399 shares advanced, 1492 shares declined, and 160 shares unchanged.Read More :- CCI’s cotton procurement in MP touches 12L quintal
CCI’s cotton procurement in MP touches 12L quintalIndore : Cotton procurement in Madhya Pradesh by the Cotton Corporation of India (CCI), a nodal agency established under the Ministry of Textile for the procurement of cotton, has reached 12 lakh quintals, already double the previous year's procurement. In the preceding year, the nodal agency procured 6.35 lakh quintals of cotton from Madhya Pradesh.CCI started the procurement of cotton from farmers in Madhya Pradesh at the Minimum Support Price (MSP) from October 2024. The nodal agency has set up 21 procurement centres in the state."So far, around 12 lakh quintals of cotton are procured in MP by CCI. Almost every centre is operational because arrivals were high in the initial months. Though initial supplies had higher moisture content, gradually the quality improved, and supplies are sufficient," said an official from CCI requesting anonymity.The 2024-2025 MSP for cotton stands at Rs 7,121 per quintal and Rs 7,521 per quintal for medium and long-staple cotton varieties, The CCI has established procurement centres at Khargone, Dhamnod, Bikangaon, Badwah, Khandwa, and other locations.In the Indore division, Khargone, Khandwa, Barwani, Manawar, Dhar, Ratlam, and Dewas are the prominent cotton-growing belts.Kailash Agrawal, a cotton trader and farmer, said, "Cotton procurement is high this season because production and per hectare yield was very good. Unlike previous years, farmers were interested in releasing the stocks early to get better remuneration, so most of them sold their supplies at the start of the season."Traders said almost 80 per cent of cotton supplies reaching the markets were procured by CCI this season because prices were lower than the MSP.Another trader, Hari Kishore, said cotton prices have not gone above Rs 8,000 per quintal in the past three years, and looking at past years' experience, it was wiser to clear the stocks as early as possible to get at least the MSP.The daily arrival of cotton in the Khargone market is estimated at 10,000-15,000 quintals compared to 8,000-10,000 quintals in the preceding year during the same period, said cotton traders.Read More :- Global cotton faces 2025 challenges amid supply-demand gap
The supply-demand mismatch will provide issues for global cotton in 2025.The global cotton sector may face notable challenges in 2025, as production continues to rise faster than demand. Economic forecasts suggest growth will match last year’s pace, while oil prices are trading lower, and cotton futures indicate stability for the year ahead, as per the Centre for Advanced Studies on Applied Economics (CEPEA).Brazil concluded 2024 as the world’s major cotton exporter, shipping 2.77 million tons, overtaking the United States, which exported 2.37 million tons. A significant factor behind Brazil’s record exports was China, which imported 924.7 thousand tons.Cotton prices in Brazil are likely to face downward pressure due to high ending stocks, limited global demand, and marginal global economic growth. However, the Brazilian real’s devaluation against the US dollar could enhance export competitiveness, potentially stabilizing prices.Conab estimates that Brazil’s 2024/25 cotton crop planted area may grow by 3 per cent, reaching 2 million hectares. Productivity is projected to decline by 3.1 per cent compared to the previous season, to 1,845 kilos per hectare. Total production for the 2024/25 crop is anticipated at 3.695 million tons, a slight decrease of 0.2 per cent from the prior season.Globally, USDA data indicates a 3.9 per cent rise in supply for the 2024/25 season, totalling 25.558 million tons. World cotton consumption is projected to increase by 1.3 per cent in the same period, reaching 25.211 million tons.read More :- Rupee rises 14 paise to 86.46 against US dollar in early trade today
In early trading today, the rupee advances 14 paise to 86.46 against the US dollar.Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies.Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair.At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close.On Friday, the rupee had settled at 86.60 against the US dollar.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10.Read More :- Textile shows displaying products from across nation
Textile displays that showcase goods from all over the countryThe textile hub of Ludhiana, renowned for its innovation prowess and entrepreneurial spirit, is once again playing host to the highly curated triple shows, viz Yarnex, Texindia, and DyChem Tex Process. The events, which began today, will bring together suppliers and buyers at the Dana Mandi, Bahadur ke Road, and Jalandhar By-pass till January 19.The event was inaugurated by Mandeep Singh Garcha, country manager, The Echo Design Group, Ludhiana, today in the presence of the guest of honour, Vinay Saini, head sourcing and product development, ICONIC Fashion Retailing Pvt Ltd, Gurgaon.The shows will showcase products and services from leading manufacturers and suppliers from Ludhiana as well as from across the country. The shows will play a catalyst role in strengthening the textile value chain in Ludhiana. The three-day show will witness the participation of 121 leading companies from various parts of India.Visitors at the event represent a diverse category, including international buying houses and agents, garment manufacturers and exporters; composite mills, powerloom weavers, knitters, distributors, and wholesalers etc.Entry to the event is strictly for trade visitors only and will allow companies to interact and conduct business in a non-cluttered and extremely businesslike environment.Read More :- Bangladesh BTMA requests an extension of the import payment usage time.
Bangladesh BTMA seeks extension of usance period for import paymentsThe Bangladesh Textile Mills Association (BTMA) recently urged the Bangladesh Bank governor to extend the usance period for payment on imports of industrial raw materials as export-oriented textile firms are facing problems due to expiry of a central bank circular.In foreign trade, usance is the allowable period of time permitted by the customs between the issuance of a bill and its payment.In a letter to the central bank governor, BTMA said the period for payment on imports of industrial raw materials was extended from 180 days to 360 days maintaining the arrangement until December 31, 2024, to facilitate import and export, domestic media outlets reported.Export-oriented textile mills have faced exchange rate losses while importing raw materials as taka devaluated against foreign currencies due to a number of reasons, BTMA secretary general Mohammad Zakir Hossain wrote.Mills also cannot utilise their full capacity due to shortage of gas and electricity, hikes in gas prices and workers' wages and the recent political turmoil and labour unrest, the letter added.
The rupee fell 6 paise versus the dollar to close at Rs 86.61 this eveningAt the close, the Sensex was down 423.49 points, or 0.55 percent, at 76,619.33, and the Nifty was down 108.60 points, or 0.47 percent, at 23,203.20. About 1975 stocks advanced, 1797 stocks declined and 116 stocks were unchanged.Read More :- Heimtextil 2025: India Showcases Textile Industry Growth and Global Collaboration with Inauguration of India Pavilion
Early trading saw the rupee rise 3 paise to 86.58 against the US dollar.The rupee rose 3 paise to 86.58 against the US dollar in early trade on Friday on the back of softening American currency.At the interbank foreign exchange, the rupee opened at 86.60 and touched a high of 86.55 before trading at 86.58 against the greenback in initial deals, 3 paise higher from its previous close.On Thursday, the rupee depreciated 21 paise to close at 86.61 against the US dollar. The local unit had settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level of 86.70 against the greenback.Read More :- Indian rupee ended 19 paise lower at 86.55 per dollar on Thursday against Wednesday's close of 86.36.
The Indian rupee closed at 86.55 per dollar on Thursday, 19 paise less than its closing price of 86.36 on Wednesday.At close, the Sensex was up 318.74 points or 0.42 percent at 77,042.82, and the Nifty was up 98.60 points or 0.42 percent at 23,311.80. About 2669 shares advanced, 1132 shares declined, and 101 shares unchanged.Read More :- Heimtextil 2025: India Showcases Textile Industry Growth and Global Collaboration with Inauguration of India Pavilion
Heimtextil 2025: India Launches India Pavilion to Highlight Textile Industry Development and International CooperationAt Heimtextil 2025, India highlighted its expanding textile sector with the largest participation to date. The Minister emphasized sustainability, innovation, and global partnerships, urging international investment and strengthening India’s role in the global market.India displayed its growing prowess in the textile industry with the inauguration of the India Pavilion at Heimtextil 2025, held at Messe Frankfurt. The event marked the largest participation from India at this prestigious global home textiles fair, underscoring the country’s commitment to innovation, sustainability, and forging international partnerships.Giriraj Singh, Minister of Textiles addressed global home textile stakeholders, including exporters, importers, and manufacturers, stressing India’s increasing competitiveness in the global market and the importance of international collaboration for sustainable growth. The Minister also invited representatives from participating countries to attend Bharat Tex 2025 and explore the various investment opportunities within India's expanding textile sector.In a separate Investors’ Meet with textile and machinery manufacturers, the Minister highlighted India’s impressive growth trajectory and the significant rise in Foreign Direct Investment (FDI) over the past decade. He emphasized the success of the ‘Make in India’ initiative, positioning India as a competitive manufacturing hub. The Minister urged global investors to seize the opportunities available in India, cautioning that those who overlook the Indian market might risk missing out on its potential. His call to action was, ‘Come and invest in India - Make in India, Make for the World.’The Minister also held discussions with the Machinery and Equipment Manufacturers Association and IVGT, Germany, on the sidelines of Heimtextil. He encouraged these entities to strengthen their ties with India’s textile sector, noting that India is one of the largest buyers of textile machinery. He cited the example of a successful German sewing thread manufacturer in India, inviting other machinery manufacturers to consider investing and establishing production facilities in the country.The Indian government continues to actively support exporters by facilitating their participation in global events like Heimtextil, helping increase their international visibility and competitiveness. During his visit, the Minister also toured the exhibition stalls, engaging with exhibitors to learn about their latest innovations and offerings in home textiles. The craftsmanship on display reaffirmed India’s commitment to advancing the sector’s global aspirations.The event saw enthusiastic participation from industry leaders and exporters, further solidifying India’s position as a key player in the global textile industry. The Indian delegation, led by the Minister, was accompanied by Rohit Kansal, Additional Secretary of the Ministry of Textiles, the Consul General of India in Germany, and other ministry officials.Read More :- Indian rupee opens marginally down at 86.42 against dollar
The Indian rupee opens slightly lower versus the dollar at 86.42.The Indian rupee opened marginally down on January 16 at 86.42 against the US dollar after ending the previous session at 86.36.Read More :- This evening, the rupee strengthened by 28 paise against the dollar to close at Rs 86.36.
The rupee appreciated 28 paise vs the dollar this evening, closing at Rs 86.36.At close, the Sensex was up 224.45 points or 0.29 percent at 76,724.08, and the Nifty was up 37.15 points or 0.16 percent at 23,213.20. About 2057 shares advanced, 1733 shares declined, and 104 shares unchanged.Read more :- Rupee falls 2 paise to 86.55 against US dollar in early trade today
| title | Created At | Action |
|---|---|---|
| Indian rupee ended 25 paise higher at 86.33 per dollar on Wednesday versus Tuesday's close of 86.58. | 22-01-2025 22:53:29 | view |
| India Budget 2025: Textile budget may rise 15 per cent to $578 mn | 22-01-2025 21:04:08 | view |
| Cotton prices stable: Farmers are getting loss-making prices | 22-01-2025 19:18:16 | view |
| Indian rupee opens almost flat at 86.56 against US dollar | 22-01-2025 17:55:58 | view |
| Indian rupee ended at 86.58 per dollar on Tuesday versus previous close of 86.56. | 21-01-2025 23:11:38 | view |
| KHAGA appeals to Nirmala Sitharaman to reject GST hike for textile industry | 21-01-2025 20:27:53 | view |
| Cotton prices fall as WASDE forecasts higher production and ending stocks for 2024/25 crop year | 21-01-2025 20:01:27 | view |
| Rupee rises 17 paise to 86.28 against US dollar in early trade | 21-01-2025 17:49:58 | view |
| Indian rupee ended marginally higher at 86.56 per dollar on Monday versus Friday's close of 86.61. | 20-01-2025 22:47:52 | view |
| CCI’s cotton procurement in MP touches 12L quintal | 20-01-2025 19:38:11 | view |
| Global cotton faces 2025 challenges amid supply-demand gap | 20-01-2025 19:13:39 | view |
| Rupee rises 14 paise to 86.46 against US dollar in early trade today | 20-01-2025 17:30:48 | view |
| Textile shows displaying products from across nation | 18-01-2025 19:24:32 | view |
| Bangladesh BTMA requests an extension of the import payment usage time. | 17-01-2025 23:58:10 | view |
| The rupee closed at Rs 86.61 this evening with a weakness of 6 paise against the dollar | 17-01-2025 23:12:50 | view |
| Rupee gains 3 paise to 86.58 against US dollar in early trade | 17-01-2025 17:35:12 | view |
| Indian rupee ended 19 paise lower at 86.55 per dollar on Thursday against Wednesday's close of 86.36. | 16-01-2025 22:44:43 | view |
| Heimtextil 2025: India Showcases Textile Industry Growth and Global Collaboration with Inauguration of India Pavilion | 16-01-2025 19:12:02 | view |
| Indian rupee opens marginally down at 86.42 against dollar | 16-01-2025 17:23:46 | view |
| This evening, the rupee strengthened by 28 paise against the dollar to close at Rs 86.36. | 15-01-2025 23:17:31 | view |
