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In early trade, the rupee climbs 9 paise to 83.69 against the US dollar.Sensex soars 300 pts, Nifty crosses 24,500; Bharti Airtel, Infosys up 2% eachIndian bourses opened on a positive note on Friday, with BSE Sensex adding 119 points to 80,158, while the Nifty50 index rose marginally by 17 points to 24,423 levels.Read More :> India's Textile Sector Set to Grow with 28% Budget Increase: NITMA

This evening, the rupee appreciated by 2 paise to close at 83.70 against the US dollarAt the close of trading, the BSE Sensex fell 109.09 points or 0.14% to close at 80,039.80. The NSE's 50-share index Nifty slipped 7.40 points or 0.030% to close at 24,406.10.Read more :- India's Textile Sector Set to Grow with 28% Budget Increase: NITMA

NITMA: India's Textile Industry to Expand with 28% Budget IncreaseLudhiana - India’s textile sector is poised for significant growth, with a 28 per cent increase in the budget allocated for the sector for 2024-25, announced Northern India Textile Mills Association (NITMA) President Sanjay Garg on Wednesday.This substantial boost in funding is expected to drive innovation, enhance productivity, and create new opportunities within the industry. The increased investment reflects the government’s commitment to fostering the growth and development of the textile sector, which is vital to the country's economy.With the enhanced budget allocation, the textile sector is well-positioned to capitalize on emerging trends and seize new opportunities in the global market. Garg highlighted that employment, skilling, and support for MSMEs are key focus areas of the Union Budget. He praised the new Credit Guarantee Scheme for MSMEs, which offers provisions for term loans to purchase machinery and equipment without requiring collateral or a third-party guarantee, with coverage up to Rs 100 crore, potentially for even larger loan amountsThe increase in the credit guarantee scheme limit is anticipated to stimulate investment in the textile sector. Garg also noted that budget allocations for cotton procurement, the Amended Technology Upgradation Fund Scheme for the National Technical Textiles Mission, and increased funding for PM MITRA will provide crucial support to the industry.Read More :>Whitefly Threat Looms Over Cotton Belt

Rupee-US Dollar Drops to Record Low of 83.72Sensex plunges 450 pts, Nifty tests 24,300; Axis Bank falls 6%, TaMo rises 3%  Indian benchmark indices opened on a negative note Thursday, with BSE Sensex slipping 600 points to 79,542 points, while the Nifty50 index fell by 183 odd points to 24,230.Read More :Jalgaon Kharif Season: 92 percent of 'Kharif' sowing completed in the district, cotton sowing 101 percent

This evening, the rupee fell 3 paise to settle at 83.72 against the US dollarAt the close of trading, the BSE Sensex fell 280.16 points or 0.35% to close at 80,148.88. The NSE's 50-share Nifty closed at 24,438.95, down 40.10 points or 0.16%.Read more :- Whitefly Threat Looms Over Cotton Belt

Jalgaon Kharif Season: 92% of the district's "Kharif" sowing has been finished, with 100% of the cotton sowing completed.The district has received an average rainfall of 258 mm (49 percent) so far, while the district's average is 632 mm. Farmers have completed 92.54 percent of 'Kharif' sowing, out of which the highest sowing of cotton has been done in 5 lakh 9 thousand 58 hectares of area. After heavy rains in the month of June, the district is receiving good rainfall in July as well.However, there has been less rainfall in areas like Chalisgaon, Raver, Jamner etc. Still, there has been 49 percent more rainfall than the average, due to which the farmers are satisfied. However, the dams are not completely filled yet, because experts believe that the dams will not be filled until the rivers and streams overflow.The total Kharif area in the district is 7 lakh 79 thousand 601 hectares, out of which sowing has been done in 7 lakh 12 thousand 153 hectares. The area of cotton is 5 lakh 1 thousand 568 hectares, out of which cotton has been planted in 5 lakh 9 thousand 58 hectares (101 percent)."So far 92 percent sowing has been done in the district. Farmers are now working on spraying pesticides.Read More :> Whitefly Threat Looms Over Cotton Belt

Danger of Whiteflies Hangs Over Cotton BeltAfter nearly a decade, the fear of whitefly infestations has returned to the cotton belt in the Malwa region, with reports of these pests appearing in parts of Mansa, Bathinda, and Fazilka districts. The State Agriculture Department has mobilized teams to visit affected villages, urging field officers to stay vigilant. Officials are advising farmers to inspect their crops closely and apply recommended sprays to mitigate the infestation.Announcements through village gurdwara loudspeakers have been made to inform farmers about the rising threat and the importance of following expert recommendations for pest control. Experts have noted that the current hot and humid weather is conducive to pest outbreaks. They also pointed out that many farmers planted moong crops during the summer, which may have exacerbated the whitefly problem.Whiteflies reproduce quickly and typically hide under leaves, making them difficult to eliminate without direct spraying. The agriculture department has recommended specific sprays effective only at the early stages of infestation.Farmers have reported a significant reduction in cotton cultivation, now at an all-time low of around 97,000 hectares, as many have shifted to growing paddy, pulses, and maize. This shift is partly due to successive governments' failure to adequately address pest issues.In a distressing incident, Kulwinder Singh from Bhagi Bander village reportedly destroyed his cotton crop on two acres after a whitefly attack. The situation is reminiscent of the August–September 2015 crisis, when about 60% of the cotton crop on 4.21 lakh hectares was damaged, leading to tragic farmer suicides due to the financial losses incurred.Jagseer Singh, Chief Agriculture Officer of Bathinda, acknowledged the widespread whitefly presence in the district, attributing it to the extended dry spell. He emphasized that early intervention with recommended sprays can be effective in controlling the pest.Read More :> Pink Bollworm Crisis Halves Cotton Cultivation in North India

In early trade, the rupee drops 1 paisa to 83.70 against the US dollar.Sensex, Nifty open flat; broader indices exhibit strengthThe benchmarks Sensex, Nifty saw a flattish start on Wednesday with Sensex slipping 89 points or 0.11 per cent to 80,339 levels, while the Nifty50 also fell marginally to 24,438, down 0.17 per cent. Read More :> India Budget 2024-25: Key Highlights for the Textile Sector

https://www.smartinfoindia.com/news-details-english/less-than-average-rainfall-in-bhiwani-crisis-on-kharif-cultivationIndia's Budget 2024–2025: The Textile Sector's High PointsFinance Minister Nirmala Sitharaman's Budget 2024-25 includes significant measures for the textile and leather sectors. The basic customs duty (BCD) on real down filling material from duck or goose has been reduced to boost export competitiveness. The list of exempted goods for manufacturing leather and textile garments, footwear, and other leather articles for export has been expanded. The BCD on methylene diphenyl diisocyanate (MDI) for spandex yarn production has been reduced from 7.5% to 5%, subject to conditions, and the export duty structure on raw hides, skins, and leather has been simplified.A new centrally sponsored scheme will skill 20 lakh youth over five years, upgrading 1,000 Industrial Training Institutes (ITIs) with industry-aligned courses. Special attention is given to MSMEs and labour-intensive manufacturing. A Credit Guarantee Scheme will facilitate term loans for MSMEs without collateral, providing guarantee cover up to ₹100 crore. Public sector banks will develop in-house credit assessment capabilities based on MSMEs' digital footprints. A new mechanism will support MSMEs in maintaining bank credit during stress periods with government fund guarantees.E-Commerce Export Hubs will be set up in public-private partnership (PPP) mode to help MSMEs and traditional artisans sell products internationally. Investment-ready “plug and play” Industrial Parks will be developed in or near 100 cities, with twelve industrial parks under the National Industrial Corridor Development Programme being sanctioned. Rental housing with dormitory-type accommodation for industrial workers will be facilitated in PPP mode with viability gap funding (VGF) support. Rules for Foreign Direct Investment (FDI) and Overseas Investments will be simplified to facilitate FDIs, prioritize investments, and promote the use of the Indian Rupee in overseas investments.Read more :- Less than average rainfall in Bhiwani, crisis on Kharif cultivation

This evening, the rupee ended the day 3 paise down versus the US dollar at 83.69At the close of trading, the BSE Sensex fell 73.04 points or 0.09% to close at 80,429.04. The NSE's 50-share index Nifty slipped 30.20 points or 0.12% to close at 24,479.05.Read more :-Pink Bollworm Crisis Halves Cotton Cultivation in North India

North Indian Cotton Cultivation Is Halted by the Pink Bollworm CrisisFor nearly four years, the pink bollworm has devastated cotton crops in the northern Indian states of Punjab, Haryana, and Rajasthan. This infestation has led to a significant decrease in cotton cultivation, falling from around 160,000 hectares last year to only 100,000 hectares this year, as of the first week of July.Pink Bollworm Infestation First Detected in 2017The pink bollworm (PBW), also known as gulabi sundhi among farmers, damages cotton crops by burrowing its larvae into the cotton bolls, resulting in the lint being cut and stained, making it unfit for use. Effective techniques to prevent PBW attacks exist but have not been widely adopted by farmers.The pest first appeared in North India during the 2017-18 season in select locations of Haryana and Punjab, primarily affecting Bt cotton. By 2021, it began causing significant damage in several districts in Punjab, including Bathinda, Mansa, and Muktsar, where approximately 54% of the area under cotton production experienced varying degrees of PBW infestation. Adjoining areas in Rajasthan also reported PBW infestation during that period.Spread and Impact of PBW in North IndiaSince 2021, PBW attacks have increased annually in Punjab, Haryana, and Rajasthan. In Punjab, the affected districts include Bathinda, Mansa, and Muktsar. In Rajasthan, Sri Ganganagar and Hanumangarh are impacted, while in Haryana, Sirsa, Hisar, Jind, and Fatehabad are affected. Two months after sowing this year, reports of PBW infestation are emerging across these states.Methods to Control PBW Spread: PBW spreads through the air and infected crop residues left in fields, with infected cotton seeds being another source. Experts advise spraying insecticides once PBW is detected; frequent applications can save uninfested bolls. Fields with PBW should not be planted with cotton for at least one season, and crop residues should be promptly burned, avoiding the mixing of healthy and unhealthy seeds.Preventive Measures: Applying synthetic pheromone paste to cotton plant stems can prevent male insects from finding females. This paste should be applied to 350-400 plants per acre at 45-50 days, 80 days, and 110 days after sowing. Another technique, PBKnot Technology, uses thread knots with pheromone dispensers to confuse male moths, and these should be tied to cotton plants when they are 45-50 days old. Challenges with Adoption: Farmers are hesitant to adopt new techniques and technologies due to the extra cost and lack of immediate benefits. There is a lack of awareness and training among farmers about these preventive techniques. Intensive training programs, awareness campaigns, field demonstrations, and financial aid from the government and private sector can help make these technologies more accessible.Coordinated Efforts Required: Effective PBW management requires coordinated efforts among states. Poor management in one state can potentially destroy crops in neighboring states as the pest can travel through the air.Read More :>Heavy rain damages cotton crop in Jalgaon