Rupee lower 10 Paisa Against Dollar, Closes at 85.84The Indian rupee on monday lower 10 paise to close at 85.84 per dollar, while it opened at 85.74 in the morning.At close, the Sensex was down 2,226.79 points or 2.95 percent at 73,137.90, and the Nifty was down 742.85 points or 3.24 percent at 22,161.60. About 559 shares advanced, 3372 shares declined, and 137 shares unchanged. read more :-CCI Cotton Production and Purchases: Last 6 Years
According to data compiled from the cotton seasons 2019-20 to 2024-25, cotton production in the north Indian states of Punjab, Haryana and Rajasthan has seen a significant decline in the last six years.The total cotton production in India is projected to decline from 365 lakh bales in 2019-20 to an estimated 294.25 lakh bales in 2024-25. This represents a decline of about 70.75 lakh bales, underlining the growing concerns in the agriculture sector, especially in the northern region.Northern states hit hardCotton production in Punjab, Haryana and Rajasthan has seen a steep decline:Punjab's production fell from 9.50 lakh bales in 2019-20 to only 2.72 lakh bales in 2024-25.Haryana's production fell from 26.50 lakh bales to 12.44 lakh bales.In Rajasthan, traditionally the leading producer in north India, the procurement declined from 29 lakh bales to 18.45 lakh bales.Various factors such as pest infestation, climatic uncertainties and change in cropping pattern by farmers looking for more profitable or stable options are responsible for this decline.Significant drop in CCI procurementThe Cotton Corporation of India (CCI), which procures cotton under various categories (A, B and C), has also reduced its procurement drastically. In the 2019-20 and 2020-21 seasons, CCI procured significant quantities (up to 10.57 lakh bales in category B in 2020-21), but in the latest season, procurement declined to:0.02 lakh bales (A)0.62 lakh bales (B)0.50 lakh bales (C)No procurement was made by CCI in the 2021-22 and 2022-23 seasons as market prices were higher than MSP.OutlookExperts suggest that unless substantial efforts are made to support cotton growers through improved seeds, pest control and support pricing, this declining trend could threaten the livelihoods of farmers and the textile industry.The government and agricultural bodies are expected to review these trends and introduce policy measures aimed at reviving cotton cultivation in the affected northern states.read more :- Described: An emergency with cotton
Explained: A cotton emergencyThe pink bollworm has brought down India’s cotton production by a quarter in the last decade. While a few seed companies have developed new genetically modified hybrids resistant to the dreaded insect pest, regulatory barriers are coming in the way of their commercialisation.India’s cotton economy isn’t in great shape.This, despite the advantage the country has as a producer of the natural fibre and its textile exports facing only 27% duty – as against China’s 54%, Vietnam’s 46%, Bangladesh’s 37%, Indonesia’s 32% and Sri Lanka’s 44% – under US President Donald Trump’s “reciprocal tariff” policy.The cause for concern is production.India’s cotton output in the 2024-25 marketing year (October-September) is projected at just over 294 lakh bales (lb; 1 lb=170 kg), the lowest since the 290 lb of 2008-09. Production has been on a declining path since the peak of 398 lb in 2013-14 (see chart 1). A fall from almost 400 lb to under 300 lb can even be termed catastrophic.The cultivation of genetically modified (GM) cotton hybrids – incorporating alien genes isolated from a soil bacterium, Bacillus thuringiensis or Bt – had led to not only a near-trebling of production (from 136 lb to 398 lb), but also a 139-fold jump in exports (from 0.8 lb to 117 lb), between 2002-03 and 2013-14.A different bollwormThe above production slide, and India turning from a large cotton exporter to a net importer, is mainly courtesy of the pink bollworm (PBW). This is an insect pest, whose larvae bore into the bolls (fruits) of the cotton plant. The bolls contain seeds from which the white fluffy cotton fibres or lint grow. The PBW caterpillars feed on the developing seeds and the lint, causing yield loss as well as lint discolouration.The GM cotton now grown in India have two Bt genes, ‘cry1Ac’ and ‘cry2Ab’, coding for proteins toxic to the American bollworm, spotted bollworm and cotton leafworm pests. The double-gene hybrids initially provided some protection against the PBW too, but that effectiveness has dissipated over time.The reason for it is that the PBW is a monophagous pest, which feeds exclusively on cotton. This is unlike the other three pests that are polyphagous and survive on multiple host crops: The American bollworm larvae infest even maize, jowar (sorghum), tomato, bhindi (okra), chana (chickpea) and lobia (cowpea).Being monophagous enabled the PBW larvae to gradually build resistance to the toxins from the existing Bt cotton hybrids. The PBW population that became resistant from continuously feeding on these plants eventually overtook and replaced the ones that were susceptible. The pest’s short life cycle (25-35 days from egg laying to adult moth stage), allowing it to complete at least 3-4 generations in a single crop season of 180-270 days, further accelerated the resistance breakdown process.A recent article in the Nature scientific journal showed the PBW developing resistance to both cry1Ac and cry2Ab toxins by 2014, about 12 years after Indian farmers began cultivating Bt cotton.The incidence of the pest crossing the “economic threshold level” – where the value of crop damage exceeds the cost of control – was recorded from 2014 in the central (Maharashtra, Gujarat and Madhya Pradesh), 2017 in south (Telangana, Karnataka, Andhra Pradesh and Tamil Nadu) and 2021 in north (Rajasthan, Haryana and Punjab) growing zones.Not for nothing that all-India per-hectare cotton lint yields, which increased from an average of 302 kg in 2002-03 to 566 kg in 2013-14, have plunged to 436-437 kg during the last two years.Deploying new genesLeading Indian seed companies have developed GM cotton hybrids deploying new genes from Bt, which they claim confer resistance to PBW.The Hyderabad-based Bioseed Research India, a division of DCM Shriram Ltd, is conducting confined field trials of hybrids based on its proprietary ‘BioCotX24A1’ transgenic technology/event expressing the ‘cry8Ea1’ gene found in Bt.The Ministry of Environment’s Genetic Engineering Approval Committee (GEAC) had, in late-July 2024, permitted Bioseed to undertake Biosafety Research Level-1 (BRL-1) trials of its event at six locations in MP, Karnataka and AP. The trials, in isolated plots of not more than one-acre size each, are meant to evaluate the expression of the new alien genes and the agronomic performance of the hybrids/lines into which they are introduced. BRL trials also entail generation of data on food and feed toxicity and environmental safety (residue analysis, pollen flow studies, etc).read more :-Rupee opens 51 paise lower at 85.74 against US dollar
Against the US dollar, the Indian rupee begins 51 paise lower at 85.74.Indian rupee opened 51 paise lower at 85.74 per dollar on Monday versus Friday's close of 85.23.read more :- Declining Cotton Production and Procurement by CCI in Punjab, Haryana, and 10 Other States
Cotton production and procurement by CCI is continuously declining in 12 states including Punjab, Haryana and 12 other statesChandigarh: Cotton production and procurement by the Cotton Corporation of India (CCI) is continuously declining in 12 states, including major North Indian states Punjab, Haryana and Rajasthan.From 365 lakh bales (1 bale = 170 kg) in the 2019-20 season, production is expected to decline to 325 lakh bales in 2023-24 and provisionally to 294 lakh bales in the 2024-25 season by March 24, 2025. CCI's cotton procurement also witnessed a sharp decline, dropping from 124.61 lakh bales in 2019-20 to only 32.84 lakh bales in 2023-24, while the provisional figures for 2024-25 are expected to reach only 99.93 lakh bales by March 26, 2025.According to Union Minister of State for Textiles Pabitra Margherita, the reason for CCI's inability to make some procurement is due to cotton prices often being higher than the minimum support price (MSP), as explained in the Rajya Sabha in a written reply to a question by Punjab MP Sandeep Kumar Pathak.According to the minister, the country has produced 365 lakh bales in 2019-20, 352.48 lakh bales in 2020-21, 311.17 lakh bales in 2021-22, 336.60 lakh bales in 2022-23, 325.22 lakh bales in 2023-24 and 294.25 lakh bales in 2024-25 season up to 24th March 2025. Punjab, Haryana and Rajasthan have produced 9.50 lakh bales, 26.50 lakh bales and 29 lakh bales respectively in 2019-20; while it was 10.23 lakh bales, 18.23 lakh bales and 32.07 lakh bales in 2020-21; 6.46 lakh bales, 13.16 lakh bales and 24.81 lakh bales in 2021-22; 4.44 lakh bales, 10.01 lakh bales and 27.74 lakh bales in 2022-23; 6.29 lakh bales, 15.09 lakh bales and 26.22 lakh bales in 2023-24; and 2.72 lakh bales, 12.44 lakh bales and 18.45 lakh bales in 2024-25 season till 24th March. With regard to procurement by CCI, 124.61 lakh bales were procured in 2019-20, 99.33 lakh bales in 2020-21 while no procurement was made in the years 2021-22 and 2022-23. 32.84 lakh bales were procured in 2023-24 while 99.93 lakh bales have been procured in 2024-25 season till 26th March. Specifically, 3.56 lakh bales, 6.22 lakh bales and 3.76 lakh bales were procured by CCI from Punjab, Haryana and Rajasthan, respectively, in 2019-20; 5.36 lakh bales, 10.57 lakh bales and 9.11 lakh bales in 2020-21; no procurement in 2021-22 and 2022-23; 0.38 lakh bales, 0.43 lakh bales and 0.52 lakh bales in 2023-24; and 0.02 lakh bales, 0.62 lakh bales and 0.50 lakh bales in 2024-25 season till March 26.read more :-Farmers Run Out of Cotton, Prices Spike
Cotton Price: Prices rise after farmers run out of cottonWardha News: The prices of cotton have risen across the country due to the decrease in moisture content in the cotton currently coming to the market as compared to the beginning of the season as well as the increase in the price of silk. At present, cotton is trading at Rs 7,000 to Rs 8,000 per quintal.The central government had declared a price of Rs 7121 per quintal for medium-staple cotton and Rs 7521 per quintal for long-staple cotton. However, cotton was not purchased from farmers at this rate throughout the season. On the one hand, the productivity of cotton has declined and it has stabilized at four to five quintals per acre. Cotton producers were in a situation where productivity costs were rising and prices were falling.This does not even include the productivity cost of cotton. This has also affected the cotton cultivation area. Now that the cotton season is in its final stages and farmers have very little stock left, the price of cotton has gone up by Rs 1,000 per quintal. At the beginning of the season, the moisture content in cotton ranges between 10 to 14 per cent. Now it has come down to 6 to 7 per cent. Experts in the field said that the price of sugar has also increased.The market price of sugarcane was Rs 3200 to Rs 3300 per quintal. Now it has increased and it is trading at Rs 3,700 per quintal. As a result of all this, the prices of cotton have gone up. Vinegar is used for oil and it also provides a base during the process. These value-added products are used in food and animal feed. As a result of this boom in the market, the prices of cotton have gone up.Hinganghat (Wardha) Market Committee is famous for cotton. At present, a huge amount of cotton is arriving in this mandi. Ginning traders have to buy cotton by participating in the auction process of the market. Market Committee Secretary Tukaram Chambhare said that farmers come here to sell cotton because the entire transaction is transparent.Currently, 10 to 15 percent of cotton stock is left. The percentage of good quality cotton does not exceed 10. That is why prices have increased. Rates have increased from Rs 7,000 to Rs 8,000.The arrival of good quality cotton in the market has reduced. The price has been revised accordingly. Cotton producers can get good profits only when the area of cotton sowing and productivity decrease in the coming time. Because according to economic theory, demand and supply affect prices.read more :-Weekly Sales Report - Cotton Corporation of India (CCI)
Cotton Corporation of India (CCI) Weekly Sales ReportCURRENT WEEK : 31 March 2025 – 04 APRIL 2025✅ Total Sales: 7,71,000 bales ( 2023-24 & 2024-25 Season )📌 Segment-wise Sales:🔸 Trader Session: 4,14,700 bales (2024-25)🔸 Trader Session: 3400 bales (2023-24)🔸 Mills Session: 3,41,700 bales (2024-25)🔸 Mills Session: 11,200 bales (2023-24)read more :-Rupee lower 19 Paisa Against Dollar, Closes at 85.23
Indian Rupee lower 19 Paisa, Ends at 85.23 per DollarThe Indian rupee on friday lower 19 paise to close at 85.23 per dollar, while it opened at 85.04 in the morning.At close, the Sensex was down 930.67 points or 1.22 percent at 75,364.69, and the Nifty was down 345.65 points or 1.49 percent at 22,904.45. About 1081 shares advanced, 2721 shares declined, and 131 shares unchanged.read more :-Indian Textile Stocks Resilient Amid Market Slump
Indian textile stocks defy market slumpMUMBAI: For the Indian textile industry, the Oval Office has spun a surprising tale, in which Vietnam, Bangladesh, China or Sri Lanka have been harmed by imposing far more punitive tariffs than hubs in Tirupur, Surat or Noida.So, shares of textile manufacturers jumped as much as 18% on Thursday, as the 26% tariff imposed on home furnishings and readymade garments from India is lower than the 54% tariff imposed on China, 46% on Vietnam, 37% on Bangladesh and 30% on Pakistan.In fact, Indian manufacturers will benefit from the 'Liberation Day' announcements by the White House.Gautam Shahi, director, Crisil Ratings, said, "Tariffs on Indian textiles are lower than other major exporting countries, which could enhance India's competitiveness and help it increase its share in US textile exports." However, analysts cautioned that while the tariff differential would benefit India, higher duties could also lead to higher end product prices, dampening demand in the medium term. "How these tariffs impact consumers and the potential reversal of tariffs on India or competitors will be key factors to watch out for," Shahi said.The US is India's largest textile export market, accounting for 28% of India's total textile exports, valued at $35 billion in FY24. Despite this, Indian textiles currently hold only a 9% share in the US market, trailing behind Vietnam (15%) and China (24%)."We expect this tariff structure to make Indian textiles more attractive to US buyers, potentially increasing India's market share in the US," said Antu Thomas, senior research analyst at Geojit Investments. "However, in the near term...Despite short-term concerns, analysts maintain a positive long-term outlook on the sector, especially for companies with strong capital expenditure plans and high export focus such as Welspun Living, Indo Count Industries, Trident, Gokaldas Exports."These companies are well positioned to take advantage of the changing trade landscape and rising global demand," Thomas said.read more :-US Reciprocal Tariffs: Boon or Bane for Textiles and Apparel?
Opinion: Impact of US reciprocal tariffs on textiles and apparel sector – boon or bane?The United States has imposed significant duties on textile imports from various countries with the aim of protecting domestic industries and addressing trade imbalances. Under the Trump administration, reciprocal duties of about 27% were imposed on Indian textile imports. The move is part of a broader strategy, where duties on competitors such as Vietnam (46%), Bangladesh (37%), Cambodia (49%), Pakistan (29%), and China (34%) appear to be even higher. These duties have reshaped the global textile trade landscape, potentially putting India in a more favourable position than its competitors.Impact on Indian exports: The imposition of US tariffs presents both opportunities and challenges for the Indian textile industry. The positive side is that higher duties on competing countries provide India with a competitive edge, potentially increasing its market share in the US. In 2023-24, approximately 75% of the US textiles imports are expected to grow by 2024-25. Of the $36 billion in textile exports, the US accounted for about 28%, equivalent to about $10 billion. This favourable situation could increase export volumes and revenues for Indian manufacturers.Impact on US consumption: However, tariffs also have an impact on US consumers. Higher import costs could lead to higher retail prices for textiles and apparel, potentially reducing overall consumption. This price sensitivity could result in a contraction in the US market, impacting demand for Indian exports. Conversely, some US consumers may turn to more affordable options, benefiting Indian exporters if they can maintain competitive pricing.Growing US exports: The US textile and apparel industry has seen significant growth in exports due to rising global consumer demand for downstream textile products such as technical textiles and home textiles. In 2021, US exports of textile and apparel products grew by $3.4 billion (18.3%) to $22.3 billion. This growth was particularly notable in exports of fibers and yarns, which saw a 23.8% increase. This trend indicates strong demand for US textile products, which could impact global trade dynamics and affect Indian exports.Forecasts suggest that the Indian textile sector will continue to expand, leveraging its competitive advantage in the US market. The industry’s ability to innovate and adapt to changing consumer preferences will be key in maintaining its growth trajectory. However, a short-term slowdown in the US market is anticipated due to tariff-induced price increases. Current Issues in the Industry Despite the opportunities presented by US tariffs, the Indian textile industry is already facing a number of challenges.These include :Environmental concerns : The industry contributes significantly to pollution, with high volumes of waste and chemical hazards.Raw material shortages : Dependence on imported raw materials and rising costs pose significant risks.Infrastructure constraints: Inadequate infrastructure and logistics challenges hinder efficient production and exports.Labour shortage : The industry is grappling with labour shortages, which have been exacerbated by the pandemic.Resolving these issues is critical for the long-term sustainability and competitiveness of the Indian textile sector.In conclusion, the imposition of US tariffs on textile imports has had mixed consequences for the Indian textile industry. While it provides a competitive advantage over other exporting countries, it also presents challenges related to market contraction and increased costs. The future growth of the industry will depend on its ability to innovate, adopt sustainable practices, and overcome existing challenges. By strategically navigating these complexities, the Indian textile sector can thrive in the global market.read more :-Rupee opens 40 paise higher at 85.04 against US dollar
The rupee higher 40 paise to 85.04 against the dollar.Indian rupee opened 40 paise higher at 85.04 per dollar on Friday and touched 84.97 against the US Dollar for the first time since December 2024. On Thursday's it closed at 85.44.read more :-Rupee lower 31 Paisa, Ends at 85.44 per Dollar
Indian Rupee loweer 31 Paisa, Ends at 85.44 per DollarThe Indian rupee on thursday lower 31 paise to close at 85.44 per dollar, while it opened at 85.75 in the morning.At close, the Sensex was down 322.08 points or 0.42 percent at 76,295.36, and the Nifty was down 82.25 points or 0.35 percent at 23,250.10. About 2724 shares advanced, 1119 shares declined, and 132 shares unchanged.read more :- Trump Announces 26% Reciprocal Tariff Discount on India
Donald Trump Announces 26% "Discounted Reciprocal Tariff" On IndiaTrump Tariff Announcement: The US President also announced a 20 per cent levy on imports from the European Union and 10 per cent from the UK - two of the main trade partners and allies of the United States.Washington:US President Donald Trump has announced significant reciprocal tariffs on India and China, but said he is being kind on them by charging roughly "half of what they charge us". Calling these as "discounted reciprocal tariffs", President Trump said the US will charge an import duty of 26 per cent on India and 34 per cent on China.Speaking about India, President Trump described tariffs by New Delhi as "very very tough". He went on to say that "Their Prime Minister (Narendra Modi) just left (US recently)...he is a great friend of mine, but I said to him that 'you're a friend of mine, but you've not been treating us right'. India charges us 52 per cent, so we will charge them half of that - 26 per cent."The President also announced a 20 per cent levy on imports from the European Union and 10 per cent from the UK - two of the main trade partners and allies of the United States. On Japan too, he levied a 24 per cent tariff.These tariffs, the White House said, come over and above a 10 per cent base import duty on all products imported into the United States. President Trump, however, did not explain how these tariffs would be levied in an industry-wise break-up.The announcement was made to loud cheers at the White House Rose Garden, as Donald Trump said, "For far too long, other countries have looted and plundered us, while taking advantage of our policies. But no longer. April 2nd will forever be known as Liberation Day - when America reclaimed its industries. We will now impose reciprocal tariffs on countries that tariff us - Reciprocal means we do to them, what they do to us, as simple as that.""By doing this we will reclaim our jobs, we will reclaim our industry, we will reclaim our small and medium scale businesses...and we will make America wealthy again. Jobs will come roaring into America now," he added.The White House told reporters shortly after the "Liberation Day" tariff announcement that due to a "national emergency" which has stemmed from security concerns due to persistent trade deficits, the US is imposing a "baseline" 10 per cent tariff that would start at 12:01am local time (9:30 am IST) on April 5, while the higher country-specific tariffs would begin from 12:01 am local time (9:30 am IST) on April 9.read more :-Indian textile exporters get a boost from Trump's tariffs
Trump's tariffs will give Indian textile exporters an edge over competitorsPresident Donald Trump's decision to impose tariffs on all imports into the United States (US) will benefit India's textile industry, as its competitors such as Vietnam, Bangladesh and China will face higher tariffs, experts say.If the trade talks result in zero duty on cotton imports, it could be even more beneficial. A key factor for Indian textile exports will be buyer sentiments in the US. "In the past, India, Bangladesh and Vietnam faced similar tariff structures for cotton apparel exports. However, with the recent changes, India now holds a tariff advantage over these competing countries in comparative terms, which could increase its competitiveness in the US market for apparel exports," said Prabhu Dhamodharan, convener of the Coimbatore-based Indian Texpreneurs Federation.As per Trump's announcement, Vietnam's textile exports will be subject to a 46 per cent tariff, Bangladesh 37 per cent and China 54 per cent.According to US data on textile shipments and bill of lading data for 2024, China's share in its textile imports was about 30 percent, or $36 billion. Vietnam was second with textile imports of $15.5 billion (13 percent share), and India was at $9.7 billion (8 percent share). Bangladesh used to have a large share in US textile imports, but its share fell by 6 percent to $7.49 billion in 2024 due to political turmoil. Total textile imports to the US in 2024 were $107.72 billion. Imports of clothing, which is the bulk of textile imports to the US, increased by 2 percent from $77 billion in 2023 to $79 billion in 2024."If India reduces the import duty on cotton from 11 per cent to 0 per cent, it will benefit both countries. Now the ball is in India's court," said K Venkatachalam, chief advisor, Tamil Nadu Spinning Mills Association.India's Apparel Export Promotion Council (AEPC) has already approached the textiles ministry seeking a 'zero for zero' duty policy on textiles and apparel. It believes that the government should reduce the duty on textile products to zero per cent, which will prompt the US to apply the same duty rate on Indian exports."India is well positioned to increase its market share in the US because of this tariff hike. The ongoing trade talks can further strengthen India's position - especially if India offers zero-duty import of cotton in exchange for sector-specific benefits in apparel exports. This move could prove to be a game changer for the industry," Dhamodharan said.Another advantage for India is that the textile sector contributes only 2 per cent to its GDP, compared to 11 per cent and 15 per cent for competitors Bangladesh and Vietnam."It looks negative for the whole world, and short-term buying will slow down as they will eat up their pipeline inventory in the hope of relief as countries renegotiate tariffs with the US. However, if all this continues, the US will have to buy apparel, and compared to all major global textile suppliers (except the EU), we will be cheaper, and hence India will be the preferred destination for textile and apparel sourcing," said Sanjay Kumar Jain, managing director of textile producer TT Ltd. According to an industry expert, companies such as Trident, Welspun India, Arvind, KPR Mill, Vardhman, Page Industries, Raymond and Alok Industries will benefit as their revenue share from the US market is between 20 per cent and 60 per cent.read more :-Live Updates: Donald Trump's Latest Tariff Announcement
Donald Trump Tariff Announcement Live Updates Mixed bag: Govt analysing impact of 26% Trump tariff on India. Indian-American lawmakers criticise Trump's reciprocal tariffs, call them 'reckless'Indian-American members of the US Congress and the diaspora community criticised the reciprocal tariffs imposed by President Donald Trump, calling them "reckless and self-destructive", urging leaders in both countries to engage in dialogue to address these challenges.On Wednesday, Trump imposed a 26 per cent "discounted reciprocal tariff" on India. While making the announcement, he said "India charges us 52 per cent so we will charge them half of that - 26 per cent."President Trump, in a historic measure to counter higher duties on American products imposed globally, announced reciprocal tariffs on about 60 countries.The lawmakers also said that Trump's tariffs will likely make Indian goods less competitive.Congressman Raja Krishnamoorthi said Trump's blanket tariffs are a tax on working families so that he can cut taxes for the wealthiest Americans."These latest so-called 'Liberation Day' tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table."Krishnamoorthi, a Democratic lawmaker from Illinois, said the tariffs isolate the United States on the global stage, alienate America's allies, and empower its adversaries – all while forcing America's seniors and working families to bear the brunt of higher prices.Urging Americans to call on Trump to end his "disastrous" tariff policies before he sends the country into a recession, Krishnamoorthi said the tariffs do nothing to strengthen the American economy or national security.Congressman Ro Khanna said in a video posted on his social media handle that the tariffs announcement "isn't an April Fool's joke."Trump is literally trying to destroy our economy with his Liberation Day tariffs slapped overnight, no strategy, no consultation, no congressional input."What does this mean? Prices are going to go up. Prices for cars are going up. Prices for groceries are going up. Prices for home repairs and home building are going up, and there's total uncertainty," Khanna said.He added that businesses don't know whether to invest, the stock market is down and "people are saying we could have a recession. We could have stagflation, meaning slow growth and higher inflation, all because of Trump's incoherent, incompetent economic policy."Indian-American Congressman Dr Ami Bera said in a post on X "Let me be clear: these tariffs will not make America wealthy again. These costs will be passed onto YOU- the American consumer. This is not a tax cut. This is a tax hike."Former advisor to President Joe Biden and Co-Chair for Economic Subcommittee for Asian American and Native Hawaiian/Pacific Islander (AANHPI) Commission Ajay Bhutoria told PTI that Trump's 'Liberation Day' initiative imposes a 26% reciprocal tariff on India's exports to the United States, alongside new tariffs on imports from China, Mexico, Canada, and Japan, significantly impacting both nations and beyond."This sweeping policy will likely make Indian goods-such as textiles, and pharmaceuticals-less competitive, while tariffs on other major trading partners will drive up the cost of automobiles, groceries, medical supplies, and countless other products, hitting American consumers hard with an estimated additional $2,500 to $15,000 in annual expenses."Bhutoria said India's key industries face declining export volumes and financial strain, threatening millions of livelihoods and potentially weakening the strong US-India economic partnership, while American households grapple with rising prices for everyday essentials."This decision injects market uncertainty and risks disrupting global supply chains, possibly pushing Japan, South Korea, India and others to diversify markets or pursue countermeasures."He urged leaders in both countries to engage in dialogue to address these challenges, "minimising the burden on American consumers and Indian producers alike, and preserving the collaboration that has long driven innovation and prosperity between our nations."Asia Society Policy Institute Vice President Wendy Cutler said the reciprocal tariff rates will come as a "shock to our trading partners" and will cause harm to the US economy with higher prices, slower economic growth, and slowed down business investment."Our close partners appear to be treated similarly to our rivals, with China's reciprocal tariff rate just a tad higher than Taiwan. This is difficult to understand given Taiwan's open economy and extensive manufacturing FDI projects in the United States," she said.Cutler added that America's Asian FTA partners were not spared with Korea's rate at 25 percent at the high end of the group. Asian countries in particular have been hard hit causing them shar.read more :-Rupee opened 24 paise lower at 85.75
Against the US dollar, the Indian rupee begins 24 paise lower at 85.75.Indian rupee opened 24 paise lower at 85.75 per dollar on Thursday versus Wednesday's close of 85.51.read more :-Govt Targets High-Tech Growth for Textile 2030: MoS Margherita
| title | Created At | Action |
|---|---|---|
| Indian Rupee lower 10 Paisa, Ends at 85.84 per Dollar | 07-04-2025 22:51:47 | view |
| CCI Cotton Production and Purchases: Last 6 Years | 07-04-2025 21:19:02 | view |
| Described: An emergency with cotton | 07-04-2025 18:21:23 | view |
| Rupee opens 51 paise lower at 85.74 against US dollar | 07-04-2025 17:33:20 | view |
| Declining Cotton Production and Procurement by CCI in Punjab, Haryana, and 10 Other States | 05-04-2025 19:03:08 | view |
| Farmers Run Out of Cotton, Prices Spike | 05-04-2025 17:52:49 | view |
| Weekly Sales Report - Cotton Corporation of India (CCI) | 05-04-2025 01:22:24 | view |
| Rupee lower 19 Paisa Against Dollar, Closes at 85.23 | 04-04-2025 22:49:11 | view |
| Indian Textile Stocks Resilient Amid Market Slump | 04-04-2025 19:13:19 | view |
| US Reciprocal Tariffs: Boon or Bane for Textiles and Apparel? | 04-04-2025 18:38:36 | view |
| Rupee opens 40 paise higher at 85.04 against US dollar | 04-04-2025 17:25:05 | view |
| Rupee lower 31 Paisa, Ends at 85.44 per Dollar | 03-04-2025 22:45:35 | view |
| Trump Announces 26% Reciprocal Tariff Discount on India | 03-04-2025 21:00:56 | view |
| Indian textile exporters get a boost from Trump's tariffs | 03-04-2025 19:31:09 | view |
| Live Updates: Donald Trump's Latest Tariff Announcement | 03-04-2025 18:25:28 | view |
| Rupee opened 24 paise lower at 85.75 | 03-04-2025 16:37:04 | view |
