The rupee closed 1 paisa lower at 83.90 against the US dollar this evening.At the close of trading, the BSE Sensex rose 611.90 points or 0.75 per cent to close at 81,698.11. The NSE's 50-share index, Nifty, rose 187.45 points or 0.76 per cent to close at 25,010.60.read more:-India's Textile Exports Set to Reach $65 Billion by 2025-26: Invest India
Disease known as leaf wrapping attacks cotton crops.Uchana. Due to the spread of leaf wrapping disease in cotton crop, farmers are worried about the decrease in c. Due to this disease, insects start attacking the pods of the crop, due to which the cotton inside the pods starts getting spoiled. As a result, the production of the crop can be badly affected. To protect against this disease, farmers have been forced to use expensive sprays and pesticides.Every year, there was an outbreak of pink caterpillar on the cotton crop, but this time its effect is less visible than last year. Farmers Jaibir, Dilbagh, and Birendra said that due to diseases in the cotton crop every year, they have started losing interest in cultivating this crop. This time the leaf wrapping disease has surrounded the crop, due to which they have to spray expensive sprays and pesticides.Farmers have to bear an additional expenditure of Rs 1500 to Rs 2000 per acre. This time the weather has also not been favorable for the crop, and the leaf wrapping disease can have a profound effect on production. Due to less rainfall, this time the crops are falling prey to diseases. Earlier where 15 to 20 maunds of cotton was expected per acre, now due to the disease, it is expected that only 5 to 7 maunds of cotton will be obtained.
IMD Alerts Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra to Severe RainfallThe India Meteorological Department (IMD) has issued warnings for intense rainfall and strong winds across several states, including Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra. On August 26, 2024, the IMD reported that a depression over northwest Madhya Pradesh and adjoining east Rajasthan has intensified into a deep depression. This system is expected to bring heavy to extremely heavy rainfall to parts of these states, as well as to Gujarat, Goa, and Maharashtra, over the next two to three days.As of 11:30 PM on August 25, the deep depression was centered approximately 70 km south-southeast of Chittorgarh, Rajasthan. It is forecasted to move west-southwest, impacting South Rajasthan and Gujarat, and is expected to reach Saurashtra, Kutch, and parts of Pakistan by August 29, according to an IMD update issued at 2 AM.In addition, the IMD noted the presence of another low-pressure area over Bangladesh and adjoining Gangetic West Bengal. This system is likely to intensify and move toward Gangetic West Bengal, North Odisha, and Jharkhand in the next two days.A red alert has been issued for West Madhya Pradesh on August 26, with expectations of heavy to extremely heavy rainfall. Similar weather conditions are forecasted for East and South Rajasthan, Gujarat, Saurashtra, and Kutch from August 26 to 29.Regions including Konkan, Goa, Madhya Maharashtra, Odisha, Gangetic West Bengal, and Jharkhand are also expected to experience heavy to extremely heavy rainfall over the next two days.The IMD has warned of strong winds reaching up to 50 kmph in Madhya Pradesh on August 26 and up to 60 kmph in South Rajasthan from August 26-27. In Gujarat, nearby Pakistan, North Maharashtra, and the northeast Arabian Sea, wind speeds could reach up to 55 kmph on August 26, increasing to 60 kmph on August 27 and 28.Rough to very rough sea conditions are anticipated off the coasts of Gujarat, Pakistan, and North Maharashtra until August 30. Similar conditions are expected in the North Bay of Bengal on August 26.The IMD has advised fisherfolk to avoid venturing into the Arabian Sea and Bay of Bengal, particularly around the coasts of Gujarat, Pakistan, and Maharashtra, until August 30. Small ships and exploration and production operators have been urged to monitor weather developments closely and take necessary precautions.The public is advised to avoid areas prone to waterlogging and check for traffic advisories before traveling. Farmers in affected regions should ensure proper drainage in fields and provide support to crops, as per the IMD's recommendations.The IMD also warned of potential localized flooding, road closures, and waterlogging, particularly in urban areas. There is an increased risk of landslides and damage to horticultural crops due to inundation in the affected regions.read more :- India's Textile Exports Set to Reach $65 Billion by 2025-26: Invest India
Invest India Projects That India's Textile Exports Will Hit $65 Billion by 2025–2026India’s textile industry is poised for significant growth, with exports projected to hit $65 billion by the financial year 2025-26, according to a report by Invest India. This optimistic forecast underscores the robust expansion of the sector, driven by strong demand in both domestic and international markets.In 2022, the Indian textile and apparel market was valued at approximately $165 billion, with the domestic segment contributing $125 billion and exports accounting for $40 billion. The industry is expected to continue its upward trajectory, with projections indicating a compound annual growth rate (CAGR) of 10 percent. By 2030, the total production value for textiles in India—encompassing both domestic consumption and exports—is expected to reach $350 billion.Invest India attributes this rapid expansion to the visionary "fibre-to-fashion" approach championed by Prime Minister Modi. This initiative is not only propelling India’s textile industry onto the global stage but is also enhancing the technological capabilities and competitiveness of domestic players. "PM Modi's bold fibre-to-fashion vision is guiding the textile industry to become a driving force in the global market while bringing competence and technology to local players," Invest India stated in a post on the social media platform X.The growth of India's textile sector is also expected to create significant employment opportunities and contribute to the overall economic development of the country. As the industry continues to evolve, it will likely attract increased investment in innovation, sustainable practices, and advanced manufacturing technologies, further solidifying India's position as a global leader in textiles.read more :- Possibility of pressure on cotton prices, despite decline in area and productivity
Pressure on cotton prices could exist even while production and area are declining.Nagpur: Due to continuous rains, the area under cultivation is decreasing and the increasing incidence of pests and diseases is likely to lead to a decline in the productivity of cotton. Despite this, senior agricultural expert Vijay Javandiha says that there is pressure on the prices of cotton in the US market, due to which the prices of cotton in the Indian market are also expected to remain around Rs 6,500 per quintal.According to Javandiha, currently the price of 'Outlook-A' in the US cotton market is 78.60 cents per pound of cotton (2.2 pounds = 1 kg). About 35 kg of cotton and 64 kg of sardki are obtained from one quintal of cotton. If 79 cents per pound of cotton and Rs 30 per kg of sardki are calculated, then the price of 35 kg of cotton is Rs 5,110 and the price of 64 kg of sardki is Rs 1,920.Thus, the total income of cotton and sarkki is Rs 7,030, from which Rs 6,500 remains after deducting the processing cost of Rs 500. Therefore, cotton prices are likely to remain in the range of Rs 6,500. However, the central government has announced a guaranteed price of Rs 7,500 per quintal for cotton for this season.Given the slowdown in the global market, farmers may get Rs 1,000 less than the guaranteed price, which will require the government to buy cotton at the guaranteed price. Javandhiya has also raised the question that in such a situation, how can the target of doubling the income of farmers be achieved. read more :- Cotton Procurement in Haryana to Begin on October 1 Amid Record CCI Sales This Week
Haryana's October 1st Cotton Procurement Will Start Despite This Week's Record CCI SalesCotton procurement for the Kharif Marketing Season 2024-25 in Haryana is set to commence on October 1, 2024. The procurement will be carried out at the Minimum Support Price (MSP) through the Cotton Corporation of India (CCI), following the guidelines of the Government of India. This comes in a week where CCI recorded exceptionally high sales, signaling strong market activity just ahead of the new procurement season.A review meeting, chaired by the Additional Chief Secretary of the Agriculture and Farmers Welfare Department, Raja Sekhar Vundru, was held to finalize the preparations for the upcoming procurement. Dr. Vundru emphasized the need to extend full support to the Cotton Corporation of India during the process. He assured that both the CCI and the Haryana Government are fully prepared to ensure that farmers can sell their crops without any issues.20 Mandis and Procurement Centers Established for CottonThe meeting also outlined that Haryana produces two varieties of cotton: Medium Long Staple (26.5-27.0 mm) and Long Staple (27.5-28.5 mm), both of which will be procured. To streamline this process, 20 mandis and procurement centers have been established across the state. These centers are located in the following districts: Siwani, Dhigawa, and Bhiwani (Bhiwani District); Charkhi Dadri (Charkhi Dadri District); Bhattu, Bhuna, and Fatehabad (Fatehabad District); Adampur, Barwala, Hansi, Hisar, and Uklana (Hisar District); Uchana (Jind District); Kalayat (Kaithal District); Narnaul (Mahendragarh District); Meham (Rohtak District); and Ellenabad, Kalanwali, and Sirsa (Sirsa District).Procurement of Other Crops at MSPThe meeting also addressed the procurement of other crops at MSP. The Haryana Government has designated HAFED as the primary agency responsible for procuring soybean, maize, and sorghum, with 100% of these crops being managed by HAFED. For other crops, procurement will be conducted in a 60:40 ratio between HAFED and other designated agencies.Key officials, including the Director of the Agriculture Department, Sh. Rajnarayan Kaushik, and the Director of the Food, Civil Supplies, and Consumer Affairs Department, Sh. Mukul Kumar, attended the meeting, along with other officers. Representatives from the Cotton Corporation of India also participated via video conferencing.read more :- Uneven Monsoon Disrupts Kharif Crops and Agricultural Production
Rupee adds 4 paise versus the US dollar to conclude at 83.89.The rupee traded in a narrow range and settled higher by 4 paise at 83.89 (provisional) against the American currency on friday . On Thursday, the rupee traded in a narrow range and settled lower by 3 paise at 83.93 against the American currency.Stock Market Closing Bell: Sensex closes marginally higher Sensex settles 33.02 points or 0.04 per cent higher at 81,086.21 levels.read more :- Rupee Falls 4 Paise to Close at 83.95 Against US Dollar
Rupee drops 4 paisas against the US dollar to close at 83.95.The Indian Rupee closed lower against the US dollar on Thursday, pressured by importer dollar demand and foreign fund outflows. However, domestic equities and lower crude prices offered some support.Sensex Rises 147 pts, Nifty Above 24,800 on Global TrendRising for the third straight day, the 30-share BSE Sensex rose 147.89 points or 0.18 per cent to close at 81,053.19, registering gains for the third day in a row.read more :- Rupee fell 4 paise to 83.94 against the US dollar in early trade
In early trade, the rupee dropped 4 paise to 83.94 against the US dollar.Now talking about equity benchmark indices, the BSE Sensex is currently at 81,158.67 with a gain of 253.37 points i.e. 0.31 percent and the Nifty 50 is at 24,848.40 with a jump of 78.20 points i.e. 0.32 percent. One trading day earlier, the Sensex closed at 80,905.30 and the Nifty at 24,770.20.Read more :- Uneven Monsoon Disrupts Kharif Crops and Agricultural Production
Rupee falls 14 paise versus the US dollar to 83.91.The Indian rupee nosedived 14 paise to 83.91 against the US dollar on Wednesday amid unabated outflow of foreign capital and volatile domestic equity markets.Sensex up 102 pts, Nifty above 24,750 closeIndian benchmark indices ended higher in the volatile session on August 21. At close, the Sensex was up 102.44 points or 0.13 percent at 80,905.30, and the Nifty was up 71.37 points or 0.29 percent at 24,770.20.read more :- Uneven Monsoon Disrupts Kharif Crops and Agricultural Production
Kharif Crops and Agricultural Production Are Affected by an Unequal MonsoonUneven monsoon rainfall this year is disrupting production of key kharif crops such as rice,cotton, pulses, and horticultural produce. As of August 19, the southwest monsoon has brought 7.3% excess rainfall overall, but its distribution remains uneven, with 30% of India’s 725 districts experiencing rainfall deficiencies and about 10% seeing large excesses.Experts warn that this skewed distribution could harm already-sown crops, particularly pulses, exacerbating inflation concerns. Rainfall deficiencies in irrigated areas like Punjab are expected to increase farming costs. Coffee and spice growers in the south also report significant damage from high temperatures followed by heavy rains and landslides.Key regions such as Jammu and Kashmir, Punjab, Himachal Pradesh, and parts of Uttar Pradesh and Bihar face significant rainfall shortfalls, while Maharashtra, Rajasthan, Karnataka, and Andhra Pradesh have received more than usual rainfall. Despite this, kharif crop sowing has been completed over 103.1 million hectares, surpassing last year’s acreage.The India Meteorological Department forecasts above-normal rainfall for the remainder of the monsoon season, raising concerns that excessive wetness could further impact kharif crops.READ MORE :- Uzbekistan and Poland Explore Textile Sector Cooperation
Poland and Uzbekistan Examine Cooperation in the Textile SectorUzbekistan recently engaged in discussions with Poland to enhance textile exports to the country and explore the integration of modern Polish technologies into Uzbek industries.A delegation from Uzbekistan, comprising representatives from the Ministry of Investments, Industry, and Trade along with textile company officials, visited Poland to strengthen economic ties between the two nations.During their visit, the delegation toured the GD Poland International wholesale trade complex near Warsaw, where they met with Felix Wang, the complex's president, and Janusz Piechocinski, president of the Poland-Asia Chamber of Commerce. Both parties agreed to open a store for Uzbek textiles and footwear within the complex, offering special discounts and rental benefits to the Uzbek side.The delegation also visited the Union of Polish Weavers and several major companies, including yarn manufacturer Legs, Przedsiebiorstwa Produkcyjno Handlowo Uslugowego (PPHU), and Jola Styl, as reported by Uzbek media.In a joint business forum, discussions centered on the potential relocation of Bangladesh’s Rusinagency and Ukraine’s Arlen Textile Group to Uzbekistan, along with the implementation of innovative technologies to modernize Uzbekistan’s light industry.Uzbek textile enterprises such as Uztex Group, Aisha Home Textile, Korajon Textile, and Parvoz Humo Ravnaq Trans signed agreements with Poland-based companies Rusinagency, Arlen Textile Group, Legs, PPHU, Jola Styl, SWP, Ptak, and Colorinvest for the supply of yarn, gauze, knitwear, underwear, and home textiles to Poland.read more :- Textile and Chemical Exports to Bangladesh Resume After Brief Halt
After a brief pause, Bangladesh resumes exporting chemicals and textiles.Ahmedabad: With the political situation in Bangladesh stabilizing, exports of textiles and chemicals from Gujarat are beginning to return to normal, industry experts report. Fresh orders for cotton yarns and dye chemicals have started flowing in from Bangladesh, a key export market for Gujarat’s textile and chemical industries.According to industry sources, while payment issues have improved over the past week, exporters remain cautious in their business dealings.For India’s spinning sector, Bangladesh is the largest export market, accounting for 428 million kg of cotton yarn in 2023-24, which made up 35% of India’s total yarn exports.In the dyes sector, Gujarat exports over 3,500 tonnes of reactive dyes to Bangladesh each month. Given that garment manufacturing is a critical component of Bangladesh’s economy, the country cannot afford to lose these imports.Bharat Chhajer, former chairman of the Powerloom Development and Export Promotion Council (PDEXCIL), noted, “The textile industry in Bangladesh has resumed operations, and the situation is becoming stable. Exports had been halted due to the violence in Bangladesh, with cotton yarn containers held up at various Indian ports.”Exporters are closely monitoring the situation in Bangladesh and taking necessary precautions to ensure safe business transactions.Jayesh Patel, senior vice-president of the Spinners’ Association Gujarat (SAG), commented, “Exports to Bangladesh have resumed, and inquiries are picking up, but the overall costs are still not aligning with manufacturing costs.”The textile and chemical industries in Gujarat had been facing challenges since the Covid-19 pandemic. Although both sectors have seen a revival in the current financial year, the political unrest in Bangladesh had raised concerns.Manish Kiri, managing director of a chemical company, explained, “Gujarat’s dyestuff manufacturers supply 3,500 to 4,000 tonnes of dyes, primarily reactive dyes, to Bangladesh every month, representing nearly 15% of the state’s dye exports.”Approximately 150 businesses in Ahmedabad are involved in exporting reactive dyes to Bangladesh.“We’ve observed that the business environment is stabilizing sooner than anticipated. Payment situations have improved, and new inquiries and orders are beginning to come in,” Kiri added.read more :- Farmers in Punjab disillusioned with cotton, interest increased towards paddy cultivation, area reduced by three times
Punjabi farmers lost faith in cotton, became more interested in paddy farming, and saw a threefold decrease in areaIn the current season, the area of cotton crop, which gives the highest income to the farmers, has come down to only 94,000 hectares in Punjab. In 2019, this area was 3.35 lakh hectares. In the last three to four years, farmers got bumper yield of cotton, and in 2022, the price of cotton went above Rs 10,000 per quintal. But this time the reason for the huge decline in the area of cotton was pests like bollworm and whitefly. In 2023, due to the outbreak of pink caterpillar, farmers could not even get half the production, and for many farmers it became difficult to even recover the cost.Increased interest in paddy cultivationThe reduction in cotton acreage has raised concerns among agriculture department officials that if appropriate steps are not taken in this direction, farmers may completely abandon cotton cultivation in the coming times and get attracted towards paddy. Paddy cultivation requires more water, which can lead to increased exploitation of groundwater level, which can create a serious crisis for the environment.Farmers destroying cotton cropIn many villages of Mansa, Bathinda and Fazilka districts, farmers have destroyed cotton crop and started sowing PR 126 paddy variety, which gets ripe in 110 days. An official of the state agriculture department said that the cost of pesticides to farmers to deal with pests like bollworm and whitefly increases, making cotton cultivation economically unviable. Although the income in cotton crop is high, paddy cultivation gives a fixed income.Need for better seedsPAU Vice Chancellor Dr SS Gosal said that to increase cotton acreage and ensure good harvest for farmers, they need better seeds. This is necessary to keep farmers away from paddy cultivation in cotton growing areas of south and west Punjab. According to KP Singh, Principal Special Principal Secretary, Agriculture Department, the Union Ministry of Agriculture and Farmers Welfare has been apprised of the situation, and the Punjab government is creating awareness among farmers to focus on low water consuming farming.Read more :- Minister S. Savitha Says Andhra Pradesh Government to Introduce Enhanced Textile Policy Soon
In early trade, the rupee dropped 4 paise to 83.81 against the US dollarNow talking about equity benchmark indices, BSE Sensex is currently trading at 80736.53 with a slippage of 66.33 points i.e. 0.08 percent and Nifty 50 is at 24672.40 with a marginal decline of 26.45 points i.e. 0.11 percent. One trading day earlier, Sensex closed at 80,802.86 and Nifty at 24,698.85.
Andhra Pradesh to soon launch enhanced textile policy: Minister SavithaAmaravati: The Andhra Pradesh government is set to introduce a new and enhanced textile policy aimed at strengthening the state’s textiles, apparel, and garment manufacturing sectors, according to Minister for Backward Classes Welfare and Handlooms & Textiles, S. Savitha.Speaking to investors via videoconference from the Secretariat on Monday, the Minister said the government is focused on developing essential infrastructure, offering industry incentives, and ensuring faster clearances to attract investments in the sector.She noted that the earlier ‘Textile Policy 2018–23’, introduced by the TDP government, was later discontinued by the YSR Congress Party government, which created challenges for existing industries and led some investors to shift focus to other states. The upcoming policy, she said, will be a strengthened and updated version of the earlier framework, aligned with current industry requirements.Highlighting the state’s strong position in the textile sector, Ms. Savitha said Andhra Pradesh ranks second in silk production nationally, while also holding sixth and seventh positions in cotton and jute production respectively. The state currently has nine textile and apparel parks, including three in the public sector, along with 146 mega textile industries and 15 technical textile units.She further encouraged investors to explore opportunities in agro-textiles, geo-textiles, and automotive textiles, stressing the state’s potential to emerge as a key manufacturing hub.Ms. Savitha assured full government support for companies establishing operations in Andhra Pradesh, emphasizing a business-friendly environment and policy-driven growth. Principal Secretary (Handlooms & Textiles) K. Sunitha, Joint Director Srikanth Prabhakar, and other senior officials were also present at the meeting.
| title | Created At | Action |
|---|---|---|
| This evening, the rupee ended the day 1 paisa lower at 83.90 against the US dollar. | 27-08-2024 00:11:09 | view |
| Attack of leaf wrapping disease on cotton crop | 26-08-2024 23:11:13 | view |
| IMD Warns of Intense Rainfall in Madhya Pradesh, Rajasthan, Gujarat, and Maharashtra | 26-08-2024 19:40:26 | view |
| India's Textile Exports Set to Reach $65 Billion by 2025-26: Invest India | 26-08-2024 19:15:26 | view |
| Possibility of pressure on cotton prices, despite decline in area and productivity | 24-08-2024 19:22:55 | view |
| Cotton Procurement in Haryana to Begin on October 1 Amid Record CCI Sales This Week | 24-08-2024 19:03:39 | view |
| Rupee rises 4 paise to close at 83.89 against US dollar | 23-08-2024 23:59:15 | view |
| Rupee Falls 4 Paise to Close at 83.95 Against US Dollar | 22-08-2024 23:46:47 | view |
| Rupee fell 4 paise to 83.94 against the US dollar in early trade | 22-08-2024 17:29:01 | view |
| Rupee plunges 14 paise to 83.91 against US dollar | 22-08-2024 00:28:05 | view |
| Uneven Monsoon Disrupts Kharif Crops and Agricultural Production | 21-08-2024 22:55:45 | view |
| Uzbekistan and Poland Explore Textile Sector Cooperation | 21-08-2024 20:22:11 | view |
| Textile and Chemical Exports to Bangladesh Resume After Brief Halt | 21-08-2024 18:36:40 | view |
| Farmers in Punjab disillusioned with cotton, interest increased towards paddy cultivation, area reduced by three times | 21-08-2024 18:15:06 | view |
| Rupee fell 4 paise to 83.81 against the US dollar in early trade | 21-08-2024 17:22:43 | view |
| Andhra Pradesh to roll out new textile policy to boost industry growth | 20-08-2024 22:00:28 | view |
