CITI calls for immediate restoration of RoDTEP rates to support textile exportersThe Confederation of Indian Textile Industries (CITI) has expressed deep concern over the reduction in rates by up to 50% under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme. The organization has appealed to the government to immediately reconsider this decision and restore the previous rates and price ceiling (cap) with immediate effect, so that textile exporters do not have to face inconvenience.CITI Chairman Ashwin Chandran said the decision is an unexpected blow to the export community, especially at a time when global uncertainties are already weighing on trade. He said exporters had booked their orders keeping in mind the existing structure of the RoDTEP scheme, so the sudden cut in rates would affect their financial calculations.RoDTEP rates currently range from 0.5% to 3.6%. The rate reduction will have a direct impact on the margins of textile exporters, while the industry is already grappling with several challenges:* *Decline in exports:* During April 2025 to January 2026, exports have declined by 2.35% as compared to the same period last year.* *Slow global demand:* Demand has been impacted due to geopolitical tensions and weak consumption in key markets.* *High Tariff:* Higher import duties than competing countries in major markets like the US and EU.* *Low Profitability:* The average ROCE is around 12%, which is significantly lower than sectors like IT.Export orders in the textile sector are generally booked 2–3 months in advance and pricing is done keeping in mind the policy framework and export incentives in force at that time. In such a situation, a sudden cut in RoDTEP benefits may make the ongoing contracts financially unviable, which will put additional burden on exporters and affect India's credibility in the global markets.Referring to the ‘5F’ vision proposed by the Prime Minister—Farm → Fiber → Factory → Fashion → Foreign— Chandran said a stable and predictable policy environment is essential to achieve this goal, especially in such an employment-intensive sector.He warned that sudden policy changes without adequate consultation or transition period could disrupt the export ecosystem, impact cost structure and weaken the global competitiveness of Indian exports.India has set a target of doubling textile and apparel exports to $100 billion by 2030. The textile and apparel sector is the second largest source of employment generation in the country, hence the industry believes that policy stability is extremely important to achieve this ambitious target.read more :- The rupee fell 03 paise to open at 90.92.
The rupee fell 03 paise to open at 90.92/USD.The Indian rupee opened at 90.92 per dollar on Wednesday, down from its previous close of 90.93.READ MORE :-Rupee fell 02 paise to close at 90.95 per dollar
On Tuesday, the Indian rupee fell 02 paise to close at 90.95 per dollar, compared to its opening price of 90.93 in the morning. At close, the Sensex was down 1,068.74 points or 1.28 percent at 82,225.92, and the Nifty was down 288.35 points or 1.12 percent at 25,424.65. About 1410 shares advanced, 2644 shares declined, and 127 shares unchanged.read more :- CCI to continue government procurement of cotton till April
CCI Cotton Procurement: CCI will buy cotton till AprilNagpur: This year, due to prolonged duration of monsoon, the cotton season has been completely spoiled, which is directly impacting the MSP procurement process. In view of this, Chief Minister Devendra Fadnavis has written a letter to Union Textiles Minister Giriraj Singh demanding extension of the MSP procurement deadline till April 30, 2026.The Chief Minister has informed in the letter that Cotton Corporation of India (CCI) has fixed February 27 as the last date for cotton procurement for the 2025-26 season. However, this year due to delay in monsoon season till September-October, cotton harvesting started late. In many areas, cotton bolls were affected due to rain, while at some places harvesting had to be stopped due to moisture.Because of this, the regular arrival of cotton in the market has started increasing only after January. Cotton is still standing in many fields in Vidarbha, Marathwada and Khandesh, and some farmers have found time to store their stock due to delays in power supply and the ginning process.Every year, CCI continues its procurement till the end of March, but this year, the deadline has been set at February 27, making it difficult for farmers to sell in a short period of time. Although the current guaranteed price of cotton is around Rs 8,000 per quintal, the actual market price has declined by Rs 400 to Rs 500. There is a fear that if CCI stops purchasing, private traders will reduce prices even further.The Chief Minister has made it clear that CCI's continuous intervention is necessary to keep market prices stable, as small and medium farmers, especially, will be forced to sell their crops at lower prices as they need immediate cash.Meanwhile, Hinganghat Agricultural Produce Market Committee, known as the main cotton market in Vidarbha, has also taken a stand on the issue. Market Committee Chairman Sudhir Kothari and the Board of Directors have sent a letter to CCI and the government demanding extension of the cotton purchase deadline till at least March 31. He said that there is restlessness among the farmers due to the fall in the market price, whereas at present the guaranteed price is Rs 8,000.Milind Damle, head of the Traders and Technology Alliance of the Farmers Association, also demanded extension of the procurement time, saying the harvest was getting delayed due to the longer season. If the procurement is stopped early then the purpose of the MSP scheme will remain incomplete and the confidence of the farmers will be shaken. In such a situation, CCI should keep interfering in the market and the procurement time should be extended till the end of April, this is the unanimous demand of the farmers and market committees.read more :- GDP growth at 7.2% in Q3 FY26: ICRA
India's GDP growth moderated to estimated 7.2% in Q3 FY26: ICRAICRA has projected India's YoY GDP expansion to have eased to 7.2 per cent in Q3 FY26 from 8.2 per cent in Q2.The industrial sector's performance is likely to have picked up to a six-quarter high of 8.3 per cent in Q3 FY26 against 7.7 per cent in Q2.It has pegged the industrial GVA growth to have recorded a broad-based improvement to a six-quarter high of 8.3 per cent in Q3 FY26 from 7.7 per cent in Q2.Rating agency ICRA recently projected India’s year-on-year (YoY) gross domestic product (GDP) expansion to have eased to 7.2 per cent in the third quarter (Q3) of fiscal 2025-26 (FY26) from 8.2 per cent in Q2.The performance of the industrial sector is likely to have picked up to a six-quarter high of 8.3 per cent in Q3 FY26 against 7.7 per cent in Q2.ICRA has pegged the industrial gross value added (GVA) growth to have recorded a broad-based improvement to a six-quarter high of 8.3 per cent in Q3 FY26 from 7.7 per cent in Q2, supporting the overall expansion in that quarter.The quarterly financial results of Indian manufacturing companies revealed that the operating profit margin of the sector remained healthy in Q3 FY26, albeit slightly lower than Q2, given the pressure from raw materials costs and wage bill, ICRA noted.ICRA projects the manufacturing GVA to have recorded a high-single digit growth in Q3 FY26 ; it was 9.1 per cent in Q2.read more:- CCI buys cotton worth ₹12,823 crore in Telangana
CCI buys ₹12,823 crore worth cotton in Telangana Thummala Nageswara Rao noted that while there was initial opposition from farmers and ginning mills regarding the new app introduced by the Government, the roadblocks were removedThe Cotton Corporation of India (CCI) has procured 16.15 lakh tonnes of cotton from 8.80 lakh farmers with an aggregate value of ₹12,823 crore in Telangana in the kharif marketing season. The State grew cotton in over 18.21 lakh hectares in 2025-26.“We are estimating that about 10 lakh tonnes of cotton is yet to be sold. We are expecting the farmers to bring it to the CCI market yards over the next few days,” Thummala Nageswara Rao, Telangana Minister for Agriculture, said.Delay in arrivalsHe attributed the late arrivals to a delay in the crop season. He said the CCI agreed to open the procurement window till February 27 to help farmers clear the remaining produce.“We had written to the Union Government, explaining to them the reason for the late arrivals and appealed to them to extend the procurement window,” he said.He noted that while there was initial opposition from farmers and ginning mills regarding the new app introduced by the Government, the roadblocks were removed. “The app facilitated smooth transactions as it got rid of the long queues and wastage of time,” he said in a statement.read more :- CCI again reduced the selling price of cotton
CCI again reduced the selling price of cotton to increase sales.Cotton Corporation of India on Monday announced another reduction in the selling price of cotton for the 2025-26 crop. CCI has cut prices by ₹700-1100 for 356 kg of candy to boost its sales. This is when government procurement of cotton at Minimum Support Price (MSP) had reached 98.9 lakh bales of 170 kg on Monday.The sale price reduction on Monday is the second such move by CCI in the last two weeks, primarily to attract buyers. Earlier, on February 10, CCI had announced a reduction in the selling price by ₹1,400-1,700 per candy. According to trade, the low response from mills and trade to CCI's previous price cut may have prompted the government company to correct its prices in a short period of time.Trade sources said that the market prices are running lower than the CCI price, due to which the interest of buyers is increasing. Although arrivals have reduced in some states like Karnataka, arrivals are still continuing in the mandi in parts of Maharashtra, Gujarat and Telangana.CCI's cotton procurement is still going on in states like Maharashtra and Telangana. CCI Chairman and Managing Director Lalit Kumar Gupta said that the quantity purchased at MSP in the current season has reached 98.9 lakh bales.on global signalsEarlier, Gupta had told BusinessLine that the price reduction by CCI is in line with international prices and sales will increase only after March.CCI, which started sales of the 2025-26 crop on January 19, is expected to sell around 5 lakh bales due to low response from trade and industry, which are finding cotton and imports attractive in the market.Ramanuja Das Boob, a sourcing agent in Raichur, said that since arrivals are also declining, CCI can increase its sales if they increase the delivery time from the current 30 days to 60 or 90 days and reduce the price further by ₹500 per candy.Right now, market prices are around ₹500-1,000 lower than CCI prices. He said cotton prices in Maharashtra and Gujarat are around ₹7,600-7,700.He said cotton imported especially from Brazil is at the level of ₹52,000-54,000 on port delivery, which is lower than domestic prices.CAI estimateCotton Association of India has estimated the crop size to be 317 lakh bales of 170 kg in 2025-26 and the consumption for the year is estimated to be 305 lakh bales. By the end of January, cotton consumption was estimated at 104 lakh bales.CAI has projected a year-end surplus of 122.59 lakh bales for the 2025-26 season, which is 56 per cent more than the record import of 50 lakh bales during the year. By the end of January, imports were more than 35 lakh bales and exports were more than 6 lakh bales.read more :- Special conversation with Mr. Atul Ganatra: Discussion on the current situation of cotton
An Exclusive Interview with Shree Atul Ganatra on the Current Cotton Scenario Indian Cotton Crop and Stock Situation on a Rising TrendAccording to Shree Atul Ganatra, as of 21st February, approximately 250 lakh bales of cotton have arrived across India. Nearly 30–40% of the crop still remains with farmers, primarily in Gujarat and Maharashtra. The total Indian cotton crop for this year is expected to touch 315–320 lakh bales, marking a significant increase over last year.Last year’s closing stock stood at about 60–65 lakh bales, whereas this year it is projected to rise to nearly 100 lakh bales. The sharp increase in stock is attributed to two key factors:1. Cheaper imported cotton was available between October and December 2025, a period when no import duty was applicable.2. The Cotton Corporation of India’s pricing policy kept Indian cotton rates higher than global prices, prompting textile mills to switch from Indian to imported cotton. CCI’s Procurement and Sales PolicyCCI continues to procure cotton under the Minimum Support Price (MSP) scheme, leading to higher acquisition costs. However, when selling cotton, CCI only guarantees staple length and micronaire, whereas private ginners offer comprehensive parameter coverage in their contracts.It is estimated that CCI may carry unsold stock of nearly 50 lakh bales this year. Looking ahead, CCI’s continued MSP operations could encourage farmers to sow more cotton, potentially increasing the total sowing area by 15–20%, from 110 lakh hectares to 125 lakh hectares. Indian Mills and Operational ChallengesCurrently, Indian spinning mills are holding an average of 90 days’ stock, with several large mills covered through September.Due to labour shortages, mills are operating at only about 85% of their capacity. Smaller mills with less than 10,000 spindles have increasingly shifted to synthetic fibers. Reports indicate that over the past two years, around 300 mills have shut down in Tamil Nadu.Global Market PressureOn the global front, Intercontinental Exchange (ICE) cotton futures are trading at 63–65 cents per pound, reflecting lower international prices. Brazil’s record cotton output of around 200 lakh bales has further pressured USA cotton prices.The ongoing U.S.–China trade tensions have also impacted demand, as China has reduced purchases of U.S. cotton. Consequently, ICE futures have softened, currently hovering around 64 cents (approx. ₹45,000 per candy) — significantly cheaper compared to Indian cotton at ₹55,000 per candy. Challenges for Ginning FactoriesIndia has nearly 4,000 ginning factories, yet CCI is operating through only about 1,000 units. This has created a severe bottleneck, leading many factories to operate below capacity or shut down temporarily. Recommendations to the GovernmentTo address the current challenges, Shree Ganatra has proposed the following measures to the government:(a) Replace MSP procurement with Direct Benefit Transfer (DBT) under the Bhavantar Yojana to support farmers directly.(b) Allow CCI to procure raw cotton at MSP from farmers in market yards and sell it directly to ginners without processing it.(c) Since CCI already sells cottonseed (which constitutes about 67% of kapas) immediately, it should also sell 100% of raw cotton directly to ginners rather than undertaking ginning operations itself.read more :- Rupee opens 05 paise down at 90.93
Rupee opens 05 paise lower at 90.93/USD Indian rupee opened lower at 90.93 per dollar on Tuesday versus previous close of 90.88.read more :- Tariff tensions: Trade team's US trip cancelled, SCOTUS eyes better deal
Tariff turbulence: Govt puts trade team's US visit on hold; SCOTUS ruling an opening to seek better deal?Amid the uncertainty triggered by the US Supreme Court order invalidating Trump's tariffs, govt has decided to reschedule the visit of the Indian team to Washington DC for finalising the legal text of the interim framework of the trade deal.Commerce department officials said the two sides were of the view that the visit by chief negotiator Darpan Jain and his team should be rescheduled until the latest developments and their implications have been evaluated.Jain was to hold three-day consultations, starting Monday, ahead of US Trade Representative Jamieson Greer's visit to India to sign the agreement. The two sides have so far agreed on the broad framework which reflects understanding but no mutually binding commitment.But the US Supreme Court ruling against reciprocal tariffs and subsequent levies by American president Donald Trump has complicated the equations.Official: US prez can use Sec 338 allowing tariffs up to 50% Change in the travel itinerary of Jain and other negotiators is significant in view of indications in certain govt quarters that the Modi administration may not be averse to exploring if the SCOTUS's ruling has created elbow room to seek better terms.After the US court's order, Malaysia and Indonesia, which had finalised agreements with the US over tariff, have emphasised that nothing has been notified. South Korea, according to NY Times, has said that judicial disapproval of Trump's tariffs has nullified its 15% reciprocal tariff deal with the US.Significantly, while reacting to SCOTUS rebuff, Trump had on Friday said that the deal with India was on. Govt officials said the legal analysis of US actions is underway along with the possible impact on trade and strategic ties.With an additional 15% tariff under Section 122 of the Trade Act of 1974, all countries have now been put at the same level, at least for 150 days.Yet, with the threat of further action by Trump - who is seen to have weaponised tariffs - remains and his statements so far indicate that countries will have to negotiate levies individually, while allowing greater market access for American goods.USTR Jamieson Greer has indicated that the US President can also use Section 338 of the Tariff Act of 1930, which allows for up to 50% tariffs on countries that unreasonably discriminate against US trade through tariffs, regulations or other measures.
The Indian rupee lower 12 paise to close at 90.88 per dollar on Monday, compared to its opening price of 90.76 in the morning.At close, the Sensex was up 479.95 points or 0.58 percent at 83,294.66, and the Nifty was up 141.75 points or 0.55 percent at 25,713. About 1852 shares advanced, 2274 shares declined, and 171 shares unchanged.read more :- More than 300 textile mills closed in Tamil Nadu
| title | Created At | Action |
|---|---|---|
| CITI demands immediate restoration of RoDTEP rates for textile exports | 25-02-2026 13:04:39 | view |
| The rupee fell 03 paise to open at 90.92. | 25-02-2026 09:30:13 | view |
| Rupee fell 02 paise to close at 90.95 per dollar | 24-02-2026 15:50:12 | view |
| CCI to continue government procurement of cotton till April | 24-02-2026 14:04:09 | view |
| GDP growth at 7.2% in Q3 FY26: ICRA | 24-02-2026 13:48:45 | view |
| CCI buys cotton worth ₹12,823 crore in Telangana | 24-02-2026 13:35:44 | view |
| CCI again reduced the selling price of cotton | 24-02-2026 12:38:09 | view |
| Special conversation with Mr. Atul Ganatra: Discussion on the current situation of cotton | 24-02-2026 12:05:29 | view |
| Rupee opens 05 paise down at 90.93 | 24-02-2026 10:24:07 | view |
| Tariff tensions: Trade team's US trip cancelled, SCOTUS eyes better deal | 23-02-2026 18:30:27 | view |
| Rupee fell 12 paise to close at 90.88 per dollar | 23-02-2026 15:40:58 | view |
