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At Rs 87.03, the Indian rupee started the day 16 paise stronger than the US dollar.The Indian rupee opened stronger against the US dollar on Tuesday. According to Bloomberg, the Indian currency opened 16 paise stronger at Rs 87.03 against the dollar. The rupee closed at 87.19 against the dollar on Monday.read more :- Indian rupee ended 08 paise lower at fresh record low at 87.19 per dollar on Monday versus morning open of 87.11.

Monday's morning open of 87.11 saw the Indian rupee close 08 paise lower at a new record low of 87.19 per dollar.At close, the Sensex was down 319.22 points or 0.41 percent at 77,186.74, and the Nifty was down 121.10 points or 0.52 percent at 23,361.05. About 1102 shares advanced, 2742 shares declined, and 163 shares unchanged.read more :-Textile industry welcomes announcement of Mission on Cotton Productivity

The textile sector applauds the Mission on Cotton Productivity's announcement.The textile and apparel sector has welcomed the announcements in the Union budget, especially the announcement of Mission on Cotton Productivity.Vijay Agarwal, chairman of The Cotton Textiles Export Promotion Council, said the proposal to set up an Export Promotion Mission, with sectoral and ministerial targets, will provide the much needed inter-ministerial co-ordination. The Council remains confident in achieving the goal of $25 billion in cotton textile exports by 2030, he added.According to Sudhir Sekhri, chairman AEPC, the budget seeks to create a foundation for robust export growth encouraging innovation and competitiveness, particularly for the MSME sector. The measures announced will help the apparel sector compete globally by promoting Five F vision and “Make in India, Make for the World” initiative. A. Sakthivel, chairman of the Apparel, Made Ups, and Home Textiles Sector Skill Council, said the budget will be impactful and will bring growth.Chairman of the Manmade and Technical Textiles Export Promotion Council Bhadresh Dodhia said the increased fund allocation for key government schemes such as RoDTEP (Remission of Duties and Taxes on Exported Goods), RoSCTL (Rebate on State and Central Taxes and Levies), and Production-Linked Incentive scheme for textiles will boost the export potential of manmade fibre textiles and technical textiles.The Confederation of Indian Textile Industry chairman Rakesh Mehra said the introduction of the new Income Tax regime will increase disposable income with people and enhance domestic consumption of textiles and clothing.S.K. Sundararaman, chairman of the Southern India Mills’ Association, said the cotton is the growth engine and strength of Indian textile industry accounting for almost 80% of the textile exports. The industry has been demanding for a Cotton Technology Mission supporting high yielding seed technology, adoption of global best agronomy practices, producing clean cotton and branding Indian cotton to benefit the farmers and the industry. The announcement of ₹600 crore to improve productivity and sustainability of cotton, promote ELS cotton and best of science and technology to cotton farmer on a mission mode approach will give a thrust to the cotton sector.According to K.M. Subramanian, president of the Tiruppur Exporters’ Association, higher import duty on knitted fabrics will curb the influx of undervalued fabrics and benefit the local manmade fibre-based industry.The South India Hosiery Manufacturers Association president A.C. Eswaran said the Mission on Cotton will benefit the cotton-based textile sector in the long run.Sanjay K. Jain, chairman of the ICC National Textiles Committee, said the overall impact of the budget on the textile sector will be positive and textiles is pre-dominantly in the MSME segment with many women entrepreneurs. Hence, all schemes announced for the MSMEs will benefit the sector.read more :- The Indian currency fell to a record low in early trade at 87.11 against the US dollar, as compared to 86.61 against the greenback at previous close.

In early trading, the Indian rupee dropped to a record low of 87.11 against the US dollar, down from 86.61 at the previous close.The Indian rupee fell to a record low during early trade on February 3 following an uptick in the dollar index after US President Donald Trump imposed tariffs on several nations.read more :-Indian equity indices ended flat in the volatile session on February 1 (Budget day).

Indian equity indices ended flat in the volatile session on February 1 (Budget day).At close, the Sensex was up 5.39 points or 0.01 percent at 77,505.96, and the Nifty was down 26.25 points or 0.11 percent at 23,482.15. About 2001 shares advanced, 1752 shares declined, and 121 shares unchanged.Among sectors, Consumer Durables index was up 3 percent, realty index added 3.3 percent, auto index jumped 1.9 percent, Media index up 2 percent and FMCG index rose 3 percent. On the other hand, capital goods, power, PSU indices shed 2-3 percent and metal, IT, energy down 1-2 percent.Read More :- Indian rupee ended flat at 86.61 per dollar on Friday versus Thursday's close of 86.62.

Indian rupee ended flat at 86.61 per dollar on Friday versus Thursday's close of 86.62.At close, the Sensex was up 740.76 points or 0.97 percent at 77,500.57, and the Nifty was up 258.90 points or 1.11 percent at 23,508.40. About 2635 shares advanced, 1131 shares declined, and 120 shares unchanged.Read More :- US Upland cotton sales down 20%, Pima up 18% this week: USDA

Upland cotton sales in the US are down 20% this week, while Pima is up 18%: USDANet sales of Upland cotton in the United States for the 2024-25 season totalled 280,000 running bales (RB), each weighing 226.8 kg (500 pounds), during the week ending January 23, 2025. This marks a decrease of 20 per cent from the previous week, but an increase of 20 per cent from the prior four-week average.The increases were primarily for Vietnam (86,000 RB), Turkiye (76,300 RB), Pakistan (49,800 RB), Bangladesh (22,900 RB), and Costa Rica (13,200 RB).Net sales of 38,600 RB for 2025-26 were reported for the week for Malaysia (26,400 RB), Costa Rica (11,000 RB), and Japan (1,200 RB). The exports of 153,500 RB were down 31 per cent from the previous week and 19 per cent from the prior four-week average. The destinations were primarily to Pakistan (38,700 RB), Vietnam (30,500 RB), China (23,400 RB), Mexico (10,200 RB), and Turkiye (9,400 RB).Net sales of Pima totalling 7,200 RB for 2024-25 were up 18 per cent from the previous week and 69 per cent from the prior four-week average. Increases primarily for Peru (2,300 RB), Hong Kong (2,200 RB), India (1,200 RB), Egypt (900 RB), and Turkiye (400 RB) were offset by reductions for Italy (300 RB).Exports of 7,900 RB were up noticeably from the previous week and up 20 per cent from the prior four-week average. The destinations were primarily to Peru (3,200 RB), India (2,300 RB), China (1,100 RB), Turkiye (500 RB), and Pakistan (400 RB).Insights In the week ending January 23, 2025, US Upland cotton sales for the 2024-25 season decreased by 20 per cent weekly but increased by the same margin compared to the four-week average, with significant exports to Vietnam and Turkiye. Pima cotton sales also showed an uptick. However, overall cotton exports fell by 31 per cent from the previous weekRead more :- Indian rupee opened flat at 86.63 against US dollar

In relation to the US dollar, the Indian rupee opened flat at 86.63.Indian rupee opened almost flat at 86.6338 against the US dollar, as compared to 86.6250 at previous close against the greenback.The Economic Survey for 2024-25 will be tabled before both the Houses of Parliament on January 31, the first day of the Budget Session, presenting the Finance Ministry's view on the state of the economy.Read More :- India Budget 2025-26: Will demands of textile industry be addressed?

Will the textile industry's expectations be met in the 2025–2026 Indian budget?India's apparel and textile industry is grappling with complex challenges that Finance Minister Nirmala Sitharaman will have to address in her budget speech on February 1. While Sitharaman will present her eighth consecutive budget, a big question is whether she will accept the many demands and recommendations of industry leaders? Industry bodies are urging the minister to consider their proposals, stressing the urgency of these challenges.Rajiv Gupta, CEO, RSWM Ltd, hoped, “There are several recommendations to improve the viability and cost competitiveness of the industry. First, raw material prices in India are much higher than global rates as Indian companies deal with QCOs (quality control orders) on MMF (man-made fibres) and yarns. These non-tariff barriers restrict the free flow of raw materials, resulting in shortages of specialty yarns and fibres, which in turn impacts local prices. Therefore, the Centre should liberalise import policies to ensure a more competitive market for raw materials and reduce or eliminate customs duties on MMF fibres and chemicals critical in the production of raw materials. Since specialty cotton (such as organic and contamination-free varieties) is imported due to domestic unavailability, import duties imposed to protect local farmers are hurting textile value chains. “The cotton procurement scheme under MSP (minimum support price) should be replaced with a DBT (direct benefit transfer) programme,” Gupta added. This will provide more liquidity to cotton farmers as they can sell the produce without waiting for official procurement. Price volatility also needs to be addressed by creating a Cotton Price Stabilisation Fund, which will ensure competitive availability of raw material. An extended loan limitation period of eight months (instead of three months) for cotton procurement and an interest waiver scheme can also prevent price volatility. The industry ultimately seeks the suspension of Section 43B(h) of the Income Tax Act, 1961." Siddharth Dungarwal, founder of clothing brand Snitch, said, "The apparel and retail industry is a key contributor to India's economy, and we are optimistic that the upcoming Union Budget will address some of the critical challenges faced by the sector. We expect measures that simplify operations, encourage sustainable manufacturing, and help local brands and retailers expand globally. Policies such as tax rationalisation, investments in technology upgradation and incentives to develop a future-ready workforce can enable businesses like ours to drive innovation, create jobs, improve customer experience and strengthen India's position as a global fashion and retail hub.Pallav Bihani, CEO and Founder, Boldfit, said, “India's fitness and activewear market is growing at an incredible pace and as health becomes a lifestyle priority for millions, this budget is an opportunity to give the textile industry a real boost. Activewear has become a core part of the fitness culture, but there is still a lot of untapped potential in terms of domestic manufacturing and sustainable innovation.The combination of innovation, sustainability and affordability can truly define what the Indian textile and fitness industry can achieve together. Anand Iyer, CEO of retail brand Arrow, said, “We are optimistic about the government's continued commitment to foster economic resilience and growth. This is a critical moment to prioritise policies that foster innovation, enhance ease of doing business and strengthen consumer confidence. At Arrow, we are committed to honouring our legacy while evolving to meet the ever-changing needs of today's consumers. We eagerly look forward to the opportunities this budget will create for our business and the industry. We hope the upcoming budget will bring initiatives that will drive retail growth and simplify business operations."read more :- Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.

Indian rupee ended lower at 86.62 per dollar on thursday morning's opening of 86.57.At close, the Sensex was up 226.85 points or 0.30 percent at 76,759.81, and the Nifty was up 86.40 points or 0.37 percent at 23,249.50. About 2051 shares advanced, 1734 shares declined, and 117 shares unchanged.read more :- Textile Industry seeks curbs on underbilled Chinese imports, duty-free cotton

The textile industry wants to stop duty-free cotton and underpriced Chinese imports.New Delhi, Jan 30 : The textile industry, a key pillar of India’s economy, has high expectations from the upcoming Budget, seeking policy support to address pressing challenges. Contributing nearly 4% to the country’s GDP, 13% to industrial production, and 8% to total merchandise exports, the sector remains India’s largest industrial employer, providing direct employment to 4.5 cr people.Industry leaders are calling for simplified compliance processes, incentives for sustainable and digital initiatives, and enhanced support for MSMEsOne of the key concerns is the high cost of Indian cotton following the 11% customs duty imposed on cotton imports in 2021. According to the Northern India Textile Mills Association (NITMA), this has widened the gap between domestic and international cotton prices, making cotton spinning operations unviable in India. With international cotton prices consistently lower over the past two years, the industry is urging the government to abolish the customs duty on cotton imports and allow duty-free procurement to mitigate the financial strain on domestic manufacturers.Another major challenge faced by the textile industry is the rampant under-invoicing of knitted fabrics, especially from China. Industry estimates suggest that this malpractice results in an annual revenue loss of nearly ?5,000 crore to the exchequer, while also causing severe damage to domestic textile businesses. The industry has expressed concerns over the rise of a parallel economy due to the large-scale sale of undervalued imports and has urged the government to implement a permanent solution to curb under-invoicing.The RoDTEP (Remission of Duties and Taxes on Exported Products) scheme, which has been extended until September 30 under the Advance Authorisation scheme until December 31, 2024, is another key focus for industry stakeholders. To meet the ambitious target of USD 350 billion in total revenue by 2030, including USD 100 billion in textile exports, the industry is advocating for an extension of the RoDTEP scheme until September 2025 and the restoration of RoDTEP rates for textile products.At present, the Production-Linked Incentive (PLI) scheme applies exclusively to synthetic fibres. However, industry representatives argue that PLI benefits should be extended to the entire textile sector, including cotton-based products, to encourage investment and promote overall growth.With the Budget around the corner, textile manufacturers and industry associations are hopeful that their demands will be met, ensuring sustainable growth and competitiveness in the global market.read more :- Rupee falls 2 paise to 86.57 against US dollar in early trade on Thursday.