Recent News

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.

In early trade, the rupee gained 2 paise to 83.85 against the US dollarNow talking about equity benchmark indices, the BSE Sensex is currently at 80,581.70 with a gain of 157.02 points i.e. 0.20 percent and Nifty 50 is at 24,624.90 with a gain of 52.25 points i.e. 0.21 percent. One trading day earlier, the Sensex closed at 80,424.68 and the Nifty at 24,572.65.

The rupee gained  1  paisa versus the US dollar this evening, closing at Rs 83.94At the end of trading, the Sensex closed at 80,436.84 with a gain of 1330.96 points or 1.68 percent. The Nifty closed at 24,541.15 with a gain of 397.40 points or 1.65 percent.Read More :- Textile and Apparel Exports Rise 4.73% in July on Strong Apparel Demand: CITI

August Textile and Apparel Exports Increase 4.73% Due to High Demand for Clothes: CITIIndia's textiles and apparel exports saw a 4.73% increase in July, reaching USD 2,937.56 million, largely driven by a surge in apparel demand, according to the Confederation of Indian Textile Industry (CITI). While textile exports remained stable at USD 1,660.36 million, apparel exports jumped by 11.84% to USD 1,277.20 million, compared to USD 1,141.95 million in the same period last year.CITI Chairman Rakesh Mehra highlighted the strong performance, noting that the growth is due to the expanding presence of Indian apparel in key markets like the US, as well as increased exports to the European Union and the UK. The industry is optimistic about future export orders, buoyed by recent Free Trade Agreements (FTAs) such as the India-Australia Economic Cooperation and Trade Agreement (ECTA) and the India-UAE Comprehensive Economic Partnership Agreement (CEPA).“These FTAs are expected to give our exports a significant boost. The industry is strategically positioning itself to seize these opportunities, ensuring India's continued prominence in the global textiles and apparel market," Mehra added.read more :- 15% Surplus Rain in First Half of August; Monsoon at 105% of Long Period Average