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KHAGA urges Nirmala Sitharaman to oppose the textile industry's GST hike. The Karnataka Household and Garment Association (KHAGA) has written to Union Finance Minister Nirmala Sitharaman to urge her to abandon the idea in response to news that the Goods and Services Tax (GST) rates for the apparel and textile industry may be revised.The local apparel and textile industry’s trade group, KHAGA, emphasised the revision’s potential economic and social effects on pricing, manufacturing, and consumer demand.The association expressed worries about the possible loss of jobs in the industry in the event that GST rates are hiked. According to KHAGA, any tax increase would increase the financial strain currently experienced by the garment and textile sector, which employs a sizable number of unskilled and semi-skilled workers, many of whom are women, endangering many livelihoods.KHAGA president Prakash Bhojani stated that if ethnic garments, typically bought for weddings and celebrations, are categorised under luxury tax, they will become unaffordable for many. He added that this could reduce consumption during cultural and festive occasions, ultimately slowing down the economy.Additionally, the group said that changing the GST rates would drive firms and consumers to unofficial marketplaces. While illegitimate merchants would profit from this change, respectable retailers would suffer.read more :- Cotton prices fall as WASDE forecasts higher production and ending stocks for 2024/25 crop year

As WASDE projects increased production and ending stocks for the 2024–2025 crop year, cotton prices decline.Cotton candy prices fell 0.45% to close at ₹53,670 on bearish sentiment following a WASDE report that forecast higher production and ending stocks for the 2024/25 crop year. Global cotton production is estimated to rise by 1.2 million bales to 117.4 million due to large crops in India and Argentina. However, north Indian states reported a sharp 43% drop in cotton arrivals till November 30, leading to a shortage of raw material for ginners and spinners. The Cotton Association of India (CAI) estimates cotton consumption for 2024/25 at 313 lakh bales, while the pressing estimate remains unchanged at 302.25 lakh bales.Cotton imports are expected to rise by 9.8 lakh bales to 25 lakh bales compared to last year. Nearly 9 lakh bales had arrived at Indian ports till November 30. Ending stocks for 2024/25 are estimated at 26.44 lakh bales, down from 30.19 lakh bales in the previous year. Globally, US cotton production forecast rose to 14.3 million bales in December, while world production rose to 117.4 million bales. World consumption rose by 570,000 bales, led by India, Pakistan and Vietnam, offsetting a shortfall in China. Meanwhile, exports are slightly higher, with notable growth in Brazil, Benin and Cameroon.Technically, the market is witnessing long liquidation as open interest fell 19.29% to 297. Prices are supported at ₹53,490, with potential downside to ₹53,300. Resistance is seen at ₹53,940, and break above this level could test ₹54,200.read more :- Rupee rises 17 paise to 86.28 against US dollar in early trade

In early trading, the rupee climbs 17 paise to 86.28 against the US dollar.Rupee appreciated 17 paise to 86.28 against the US dollar in morning trade on Tuesday, as the US dollar index and crude oil prices retreated from their elevated levels.At the interbank foreign exchange, the rupee opened at 86.28, registering a rise of 17 paise from its previous close of 86.45 against the greenback. The local unit also touched 86.43 against the US dollar initial trade.read more :- Indian rupee ended marginally higher at 86.56 per dollar on Monday versus Friday's close of 86.61.

The Indian rupee closed at 86.56 to the dollar on Monday, slightly higher than its close of 86.61 on Friday.At close, the Sensex was up 454.11 points or 0.59 percent at 77,073.44, and the Nifty was up 141.55 points or 0.61 percent at 23,344.75. About 2399 shares advanced, 1492 shares declined, and 160 shares unchanged.Read More :- CCI’s cotton procurement in MP touches 12L quintal

CCI’s Cotton Procurement in Madhya Pradesh Touches 12 Lakh QuintalsIndore: The Cotton Corporation of India (CCI), the nodal agency under the Ministry of Textiles, has procured around 12 lakh quintals of cotton in Madhya Pradesh so far this season—nearly double last year’s procurement of 6.35 lakh quintals.Procurement operations began in October 2024 at the Minimum Support Price (MSP), with 21 centres established across the state to facilitate farmer participation.“Approximately 12 lakh quintals have been procured so far. Most centres are fully operational, especially since arrivals were strong in the early months. While initial produce had higher moisture levels, the quality has steadily improved, and current stock levels are satisfactory,” a CCI official said on condition of anonymity.For the 2024–25 season, the MSP has been fixed at ₹7,121 per quintal for general cotton and ₹7,521 per quintal for medium and long-staple varieties.Key procurement centres are located in major cotton-growing regions such as Khargone, Dhamnod, Bikangaon, Badwah, and Khandwa. In the Indore division, prominent cotton belts include Khargone, Khandwa, Barwani, Manawar, Dhar, Ratlam, and Dewas.According to Kailash Agrawal, a local trader and farmer, higher procurement this season has been driven by improved production and better per-hectare yields. “Unlike previous years, many farmers chose to sell early to secure assured returns, resulting in strong arrivals at the start of the season,” he said.Traders estimate that nearly 80% of cotton arriving in mandis this season has been purchased by CCI, as open market prices have remained below the MSP.Another trader, Hari Kishore, noted that cotton prices have not crossed ₹8,000 per quintal in the past three years. “Given past trends, farmers prefer to clear their stocks early at MSP, which is seen as a safer option,” he said.Daily arrivals at the Khargone market are currently estimated at 10,000–15,000 quintals, compared to 8,000–10,000 quintals during the same period last year.Read More :- Global cotton faces 2025 challenges amid supply-demand gap

The supply-demand mismatch will provide issues for global cotton in 2025.The global cotton sector may face notable challenges in 2025, as production continues to rise faster than demand. Economic forecasts suggest growth will match last year’s pace, while oil prices are trading lower, and cotton futures indicate stability for the year ahead, as per the Centre for Advanced Studies on Applied Economics (CEPEA).Brazil concluded 2024 as the world’s major cotton exporter, shipping 2.77 million tons, overtaking the United States, which exported 2.37 million tons. A significant factor behind Brazil’s record exports was China, which imported 924.7 thousand tons.Cotton prices in Brazil are likely to face downward pressure due to high ending stocks, limited global demand, and marginal global economic growth. However, the Brazilian real’s devaluation against the US dollar could enhance export competitiveness, potentially stabilizing prices.Conab estimates that Brazil’s 2024/25 cotton crop planted area may grow by 3 per cent, reaching 2 million hectares. Productivity is projected to decline by 3.1 per cent compared to the previous season, to 1,845 kilos per hectare. Total production for the 2024/25 crop is anticipated at 3.695 million tons, a slight decrease of 0.2 per cent from the prior season.Globally, USDA data indicates a 3.9 per cent rise in supply for the 2024/25 season, totalling 25.558 million tons. World cotton consumption is projected to increase by 1.3 per cent in the same period, reaching 25.211 million tons.read More :-   Rupee rises 14 paise to 86.46 against US dollar in early trade today 

In early trading today, the rupee advances 14 paise to 86.46 against the US dollar.Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies.Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair.At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close.On Friday, the rupee had settled at 86.60 against the US dollar.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10.Read More :-  Textile shows displaying products from across nation

Textile displays that showcase goods from all over the countryThe textile hub of Ludhiana, renowned for its innovation prowess and entrepreneurial spirit, is once again playing host to the highly curated triple shows, viz Yarnex, Texindia, and DyChem Tex Process. The events, which began today, will bring together suppliers and buyers at the Dana Mandi, Bahadur ke Road, and Jalandhar By-pass till January 19.The event was inaugurated by Mandeep Singh Garcha, country manager, The Echo Design Group, Ludhiana, today in the presence of the guest of honour, Vinay Saini, head sourcing and product development, ICONIC Fashion Retailing Pvt Ltd, Gurgaon.The shows will showcase products and services from leading manufacturers and suppliers from Ludhiana as well as from across the country. The shows will play a catalyst role in strengthening the textile value chain in Ludhiana. The three-day show will witness the participation of 121 leading companies from various parts of India.Visitors at the event represent a diverse category, including international buying houses and agents, garment manufacturers and exporters; composite mills, powerloom weavers, knitters, distributors, and wholesalers etc.Entry to the event is strictly for trade visitors only and will allow companies to interact and conduct business in a non-cluttered and extremely businesslike environment.Read More :-  Bangladesh BTMA requests an extension of the import payment usage time.

Bangladesh BTMA seeks extension of usance period for import paymentsThe Bangladesh Textile Mills Association (BTMA) recently urged the Bangladesh Bank governor to extend the usance period for payment on imports of industrial raw materials as export-oriented textile firms are facing problems due to expiry of a central bank circular.In foreign trade, usance is the allowable period of time permitted by the customs between the issuance of a bill and its payment.In a letter to the central bank governor, BTMA said the period for payment on imports of industrial raw materials was extended from 180 days to 360 days maintaining the arrangement until December 31, 2024, to facilitate import and export, domestic media outlets reported.Export-oriented textile mills have faced exchange rate losses while importing raw materials as taka devaluated against foreign currencies due to a number of reasons, BTMA secretary general Mohammad Zakir Hossain wrote.Mills also cannot utilise their full capacity due to shortage of gas and electricity, hikes in gas prices and workers' wages and the recent political turmoil and labour unrest, the letter added.

The rupee fell 6 paise versus the dollar to close at Rs 86.61 this eveningAt the close, the Sensex was down 423.49 points, or 0.55 percent, at 76,619.33, and the Nifty was down 108.60 points, or 0.47 percent, at 23,203.20. About 1975 stocks advanced, 1797 stocks declined and 116 stocks were unchanged.Read More :-  Heimtextil 2025: India Showcases Textile Industry Growth and Global Collaboration with Inauguration of India Pavilion

Early trading saw the rupee rise 3 paise to 86.58 against the US dollar.The rupee rose 3 paise to 86.58 against the US dollar in early trade on Friday on the back of softening American currency.At the interbank foreign exchange, the rupee opened at 86.60 and touched a high of 86.55 before trading at 86.58 against the greenback in initial deals, 3 paise higher from its previous close.On Thursday, the rupee depreciated 21 paise to close at 86.61 against the US dollar. The local unit had settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level of 86.70 against the greenback.Read More :- Indian rupee ended 19 paise lower at 86.55 per dollar on Thursday against Wednesday's close of 86.36.