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Indian rupee opens 39 paise higher at 86.44 against US dollarThe Indian rupee opened strong, higher by 39 paise up against the US dollar at 86.44 on February 12, appreciating 0.36 percent to once emerge as the best performing currency in Asia for a second day in a row.On February 11, a likely intervention by the Reserve Bank of India (RBI) in the forex market had led to the rupee outperform other Asian currencies. The Indian rupee appreciated 0.75 percent against the US dollar on February 11 to emerge as the top currency in Asia, and ended at 86.83 against the US dollar on Tuesday.read more :-Indian rupee ended 52 paise higher at 86.83 per dollar on Tuesday versus tuesday's open of 87.35.

The Indian rupee opened at 87.35 on Tuesday and closed the day 52 paise higher at 86.83 per dollar.At close, the Sensex was down 1,018.20 points or 1.32 percent at 76,293.60, and the Nifty was down 309.80 points or 1.32 percent at 23,071.80. About 516 shares advanced, 3330 shares declined, and 92 shares unchanged.read more :-CCI to identify districts in each state for cotton productivity trials: Textiles Minister

Districts for cotton productivity experiments will be chosen by CCI in each state: Minister of TextilesThe Cotton Corporation of India (CCI) has been asked to identify one district in each state for conducting cotton productivity trials, Union Minister Giriraj Singh said on Monday. Speaking to reporters here, the textiles minister said the government is intensifying efforts to boost cotton productivity by adopting global best practices, to increase the per hectare yield, as countries including Brazil, China, Australia and Russia produce 2,000 to 2,200 kg per hectare whereas India's average production is 450-500 kg per hectare."I have told CCI to identify districts across states for cotton trial production. Now we will take Akola model to saturation mode," Singh said.Moreover, he shared plans to take India's textiles market size to USD 350 billion by 2030 from USD 176 billion at present."The country's textile sector is the biggest employment creator after agriculture. We have set a target to take it (number of textile jobs) to 6 crore from 4.5 crore at present. The textile sector has got an allocation of Rs 5,300 crore in the Budget .... In the coming days we will increase job creation and exports from the textiles sector. At present the domestic market size is USD 176 billion. We will increase this to USD 350 billion," said the minister.Talking about the mega textile exhibition Bharat Tex to be held this month, he said, around 6,000 foreign exhibitors from 126 nations will participate in the event this time, doubling from 3,000 last year.The minister also exuded confidence that Carbon fibre, a technical textile used in missiles, drones, etc., will be produced in India by 2026.Union Budget 2025-26 proposes a five-year Cotton Mission to increase cotton productivity especially of extra-long staple varieties. It allocated Rs 500 crore for the National Cotton Technology Mission.The Budget announced an outlay of Rs 5,272 crore (Budget Estimates) for Ministry of Textiles for 2025-26. This is an increase of 19 per cent over budget Estimates of 2024-25 (Rs 4,417.03 crore)read more :-Rupee comfortably reclaims the 87 mark against USD in opening trade

In beginning trade, the rupee easily regains the 87 level against the US dollar. The rupee opened at 87.35 against the US dollar and then recovered to 87.07 against the US Dollar, as compared to 87.48 at the previous close against the greenback.read more :-Indian govt's cotton procurement may touch 10 mn bales this season

This season, the Indian government may purchase up to 10 million bales of cotton.The Indian government's cotton procurement may reach 10 million bales of 170 kg during the current marketing season of 2024-25 (October-September). The government procurement agency, Cotton Corporation of India (CCI), has assured farmers that it will procure all crops brought to its designated yards. According to industry sources, CCI has already purchased 8.6 million bales of cotton up to last week.CCI has urged farmers not to resort to distress sales of their produce, as prices are hovering around the minimum support price (MSP). It has assured that it will procure all the produce brought to the designated CCI yards. Trade sources revealed that the bulk of the procurement, nearly 80 per cent, is being purchased by the CCI in several states. However, it has ceased purchasing in northern Indian states where seed cotton arrivals have drastically depleted.In a message to farmers, CCI assured that it would continue to procure all fair grade cotton until the final arrival. Recently, CCI's chairman and managing director, L K Gupta, stated that the corporation has procured 8.6 million bales of cotton across the country so far. The procurement for the current season is significantly higher than last season's 3.28 million bales.There has been a significant increase in the minimum support price (MSP) at which CCI is purchasing cotton. The higher MSP is the main driver encouraging farmers to come to the government’s purchasing centres. Gupta said, “The procurement is ongoing and is likely to continue until March 15. We will remain in the market as long as farmers are selling cotton at MSP.” Although there were delays in procurement in some areas due to space constraints, these were only temporary.CCI’s procurement of a large cotton produce has direct implications for the textile industry. Its procurement may reach 10 million bales out of a total estimated production of 30.42 million bales. Ginning mills could not purchase seed cotton due to price disparities as market rates remained lower than the MSP. Therefore, private ginners will have very limited stock for the upcoming non-arrival months.Industry sources said that CCI normally releases cotton after June. It has sold last year’s stocks in recent months. Additionally, CCI will fix a base price for auction based on the higher MSP. Higher selling prices will boost cotton prices in non-arrival months. However, cotton prices are not receiving support due to price disparity in the export market. The ICE cotton March 2025 contract was traded at 66.04 cents per pound, which makes Indian cotton approximately 16-17 per cent costlier. Traders have said that Indian cotton is very expensive, which reduces the prospects of exporting cotton fibre, yarn, and fabric to other countries.read more :-The Indian rupee on Monday increase 43 paise to close at 87.48 per dollar, while it opened at 87.91 in the morning.

Monday saw a 43 paise increase in the value of the Indian rupee, which opened at 87.91 per dollar and closed at 87.48.At close, the Sensex was down 548.39 points or 0.70 percent at 77,311.80, and the Nifty was down 178.35 points or 0.76 percent at 23,381.60. About 1029 shares advanced, 2917 shares declined, and 108 shares unchanged.read more :-India aims USD 10 billion worth of technical textile exports: MoS Pabitra Margherita

India aims to export technical textiles for $10 billion: Mos Pabitra MargheritaTo position India as a global leader in technical textiles, the Mission was launched in 2020-21 and has been extended till 2025-26, with a financial outlay of Rs 1,480 crore.At present, India's technical textile exports are reportedly between USD 2 billion to USD 3 billion.Technical textiles are defined as textile materials and products used primarily for their technical performance in various high-end industries.There are four broad components under the Mission: The first among those is research, innovation and development with an allocation of Rs 1,000 crore.The next components are promotion and market development with a Rs 50 crore allocation; export promotion with Rs 10 crore; and education, training, and skill development with a Rs 400 crore outlay.The mission focuses on research and innovation and indigenous development of machinery and speciality fibres; promoting awareness amongst users? enhancing India's exports of technical textiles? and creating human resources with requisite skills."Technical Textiles is a sunrise sector in the country, offering immense growth potential across various industries. It provides an alternative to the traditional materials used in an application in various sectors such as roads, railways, construction, agriculture, medical industry, hygiene industry, automobile, defence, space and industrial safety etc.," the minister said in his written reply.The expansion and adoption of technical textiles will significantly contribute to the nation's infrastructure, agriculture,healthcare, and industrial growth, Minister Margherita added.read more :-The local currency opened at 87.91 against the US dollar, which was sharply lower than 87.42 against the greenback at previous trading session.

The local currency opened at 87.91 against US dollars below 87.42 against greenback during the previous negotiation session.Indian rupee touched a new record low on February 10 at 87.9563 against the US dollar due to introduction of new tariff plans of U.S. President Donald.read more :-Govt increases textile budget by 19%, launches cotton productivity mission

The government starts a cotton production mission and boosts the textile budget by 19%.The Indian textiles and apparel industry, worth around $176 billion, plays a vital role in the country's economy, contributing nearly 2% to the gross domestic product (GDP) and accounting for about 11% of manufacturing output. With over 45 million workers directly employed, the sector continues to be one of the largest sources of employment in the country. India is also the sixth largest global exporter of textiles and apparel, holding around 4% market share in the sector.The Union Budget 2025-26 has allocated Rs 5,272 crore to the Ministry of Textiles, marking a 19% increase from the previous year's budget of Rs 4,417.03 crore. This is the highest allocation in recent years, reflecting the government's commitment to strengthen the sector. The production-linked incentive (PLI) scheme for textiles has also seen a significant increase in its budget, rising from Rs 1,000 crore in 2018-19 to Rs 1,000 crore in 2019-20 and from Rs 45 crore in 2024-25 to Rs 1,148 crore this year. The PLI scheme, with a total outlay of Rs 10,683 crore over five years, aims to enhance India's manufacturing capabilities and exports, especially in the man-made fibre (MMF) and technical textiles sector.A new 'Cotton Productivity Mission' has been announced as a five-year initiative to improve the yield and sustainability of cotton cultivation. The programme will be jointly implemented by the Ministry of Agriculture and Family Welfare and the Ministry of Textiles, with a special focus on promoting extra long staple cotton varieties.To curb the influx of low-cost textile imports, the Budget has increased the basic customs duty (BCD) on knitted fabrics falling under nine tariff lines from "10% or 20%" to "20% or Rs 115 per kg, whichever is higher". The move is aimed at supporting domestic textile manufacturers, boosting local production and encouraging investments in textile manufacturing.In a major industry move, India Tex 2025, one of the world's largest textile expos, will be held from February 14-17, 2025 at Bharat Mandapam, New Delhi. Organised by 11 leading textile industry bodies and supported by the Ministry of Textiles, the event will bring together all stakeholders of the textile value chain. Parallel exhibitions on apparel machinery, dyes and chemicals and handicrafts will be held on February 12-15 at the India Expo Centre in Greater Noida. The event will focus on sustainability, innovation and strengthening global value chains.read more :-Cotton market: After soybean, now cotton farmers are upset, cotton purchase is closed at CCI center for 10 days

Cotton market: Following soybeans, cotton producers are now irate, and the CCI center has suspended cotton purchases for ten days.Mumbai: Cotton farmers are not getting a fair price for their produce, while the government's ongoing CCI purchase has been suspended for 10 days. Cotton farmers have suffered huge losses due to the sudden closure of purchase. Because cotton is not getting a fair price in the private market. In such a situation, farmers were getting a fair price at the CCI center. However, the closure of the CCI center has also created difficulties for the farmers. The price of cotton in the private market is only Rs 6200 to Rs 6500. At some places, these prices have fallen to Rs 6,000. After the CCI stopped the purchase, the prices of cotton are falling in the private market. Therefore, farmers are demanding that CCI start cotton purchase centers.On the other hand, soybean farmers have become aggressive. The central government has stopped the purchase of soybean. However, soybean of most of the farmers in the state has not been purchased yet. Therefore, farmers are demanding an extension of the deadline for soybean purchase. The state government has sent a letter to the central government demanding continuation of purchase till February 13. Therefore, now it will be important to see what decision the central government takes on this.The opposition has also become aggressive on the issue of soybean. Farmer leader Ravikant Tupkar has warned the government to extend the deadline for soybean purchase or else they will stage a strong protest. Some leaders have demanded that cotton purchase should continue for a month.read more :-On friday, the Indian rupee higher 4 paise to close at 87.42 per dollar, while it had opened at 87.46 in the morning.

After opening at 87.46 in the morning, the Indian rupee gained 4 paise to settle at 87.42 per dollar on Friday.At close, the Sensex was down 197.97 points or 0.25 percent at 77,860.19, and the Nifty was down 43.40 points or 0.18 percent at 23,559.95. About 1468 shares advanced, 2293 shares declined, and 139 shares unchanged.read more :-Significance, vision, and strategic roadmap for the growth of India’s technical textiles sector Introduction