Recent News

The rupee fell 16 paise to open at 95.39 USD.On Tuesday, the Indian rupee opened 16 paise lower at 95.39 against the dollar, while it had closed at 95.23 on Monday.Read more :- Rupee Gains 12 Paise Against Dollar, Closes at 95.23

On Monday, the Indian Rupee opened at 95.35 against the US Dollar and strengthened by 12 paise by the end of trading, closing at 95.23.At market close, the Sensex rose by 1,073.61 points, or 1.42 percent, to reach 76,488.96, while the Nifty climbed 312.40 points, or 1.32 percent, to reach 24,031.70.Read More :-  Government in Advanced Talks on Removing Cotton Import Duty

Cotton Import Duty Removal: Government ConsultationNew Delhi, (PTI) A senior official said the government is in an "advanced stage of consultation" regarding the 11 percent customs duty on raw cotton imports and is considering whether the levy can be lifted, and a decision is expected soon.Several ministries, including Finance, Textiles, and Agriculture, are considering the duty, with the textile industry demanding its removal to ease cost pressures on domestic companies due to high prices."We are talking to both Finance and Agriculture (both ministries), and it is in an advanced stage of consultation. We hope the consultation will be finalized soon," the official told PTI.A delegation comprising apparel industry representatives and exporters recently met Vice President CP Radhakrishnan and several Union ministers and demanded the duty be lifted. The delegation said that the textile industry requires approximately 337 lakh bales of cotton this year, while cotton arrivals are estimated to be 292.15 lakh bales in the 2025-26 season, leading to a supply-demand gap of approximately 45 lakh bales.They said this shortage is putting pressure on spinning mills and downstream textile manufacturers due to the low availability of good quality raw materials and rising input costs.READ MORE :- Indian Rupee Opens 33 Paise Higher Against US Dollar at 95.35

The Rupee opened 33 paise higher at 95.35 against the USD.On Monday, the Indian Rupee opened 33 paise higher against the Dollar at 95.35, whereas it had closed at 95.68 on Friday.Read more:- CCI Cuts Cotton Prices by ₹700; Weekly Auction Sales Cross 11,600 Bales

CCI Reduces Cotton Candy Prices by ₹700; Weekly Auction Sales Cross 11,600 BalesThe Cotton Corporation of India (CCI) reduced cotton prices by ₹700 per candy during the week from 18th May to 22nd May 2026. Despite the price correction, CCI auctions witnessed active participation from mills and cotton traders, with total weekly sales crossing 11,600 bales from the 2025–26 cotton season.Day-wise Auction Performance19 May 2026 (Tuesday):The week began with sale of 9,900 bales. Mills purchased 7,200 bales, while traders lifted 2,700 bales.20 May 2026 (Wednesday):CCI reported total sales of 1,500 bales during the day, including 1,000 bales purchased by mills and 500 bales by traders.21 May 2026 (Thursday):Auction activity remained limited on the final trading day of the week, with mills purchasing 200 bales.Cumulative Sales UpdateCCI’s cumulative cotton sales for the 2025–26 season have now reached 70,33,300 bales.

US Cotton Surges 40%! Vinay Kotak Urges: "Remove the 11% Duty, or Exports Face a Major Threat"In an exclusive interview with CNBC Awaaz, Vinay Kotak, President of the Cotton Association of India, stated that US ICE cotton futures have witnessed a surge of approximately 40% over the last month and a half. According to him, the primary catalyst for this rally was the presence of a significant "short position" of nearly 10 million bales in the market. As global geopolitical tensions escalated and crude oil prices surged by roughly 40%, large-scale short covering commenced; this created immense buying pressure in the market, driving cotton futures sharply upward.He noted that prices are currently encountering some resistance at their prevailing levels. Yarn prices, too—which had previously risen from 30 CCH to reach nearly ₹325—have now retreated to around ₹310, marking a decline of approximately 4–5% in recent days. He believes that these elevated prices are leading to "demand destruction," and the market will find it difficult to sustain—or "absorb"—these price levels over the long term.However, he also added that spinning mills remain profitable at current levels, even though their profit margins have narrowed compared to earlier periods. Consequently, he does not anticipate a drastic decline in raw cotton prices.Addressing the issue of import duties, Vinay Kotak explained that India primarily imports cotton across three categories, with a particularly strong demand for Extra Long Staple (ELS) cotton and contamination-free cotton. He argued that if the 11% import duty remains in force, it will become increasingly difficult for Indian textile exporters to compete with counterparts in countries such as Bangladesh, Indonesia, China, and Vietnam—a situation that could ultimately jeopardize India's global share of textile exports.He asserted that removing this duty would provide a significant boost to the country's value-added textile exports. With this in mind, the Cotton Association of India has requested the government to waive the 11% import duty for the period spanning from April to October.They clarified that by March, approximately 90% of the farmers' cotton produce has already been sold, with only about 10% of the stock being retained by a few farmers. Consequently, removing the duty would not result in any significant loss for the farmers. Furthermore, farmers benefit from the protection of the government's Minimum Support Price (MSP), which has been hiked by approximately 7% this year.According to Vinay Kotak, neither consumers nor the textile industry are currently receiving any form of protection. Under these circumstances, waiving the 11% duty during the lean period from April to October would be in the best interest of both the industry and the consumers. He further noted that the Ministry of Textiles and the Cotton Corporation of India also concur regarding the necessity of this measure.read more :- Rupee Gains 60 Paise Against Dollar, Closes at 95.68

On Friday, the Indian Rupee opened at 96.28 against the US Dollar and strengthened by 60 paise by the end of trading, closing at 95.68.The Sensex closed at 75,415.35, gaining 231.99 points or 0.31 percent, while the Nifty settled at 23,719.30, rising 64.60 points or 0.27 percent.Read More :-  Bhakra Canal Water Released in Hanumangarh, Farmers to Get Irrigation for Cotton and Kharif Sowing

From cotton to paddy: Why Haryana farmers are changing course.Between 2020 and 2025, Haryana’s cropping pattern has undergone a marked transformation. The area under rice cultivation expanded from 1,525.77 hectares in 2020 to 1,867.51 hectares in 2025, while cotton acreage shrank from 719.86 hectares to just 401.05 hectares. This shift reflects farmers’ growing preference for paddy, which offers assured procurement and stable returns. In contrast, cotton has become increasingly unviable due to pest attacks, declining Bt‑cotton resistance, and mounting cultivation losses.Why is paddy the top choice?Farmers cite profitability as the main reason for choosing paddy. According to Mandeep Nathwan, president of farmers’ organisation Pagri Sambhal Jatta Kisan Sangharsh Samiti, paddy can generate an income of nearly Rs 80,000 per acre, leaving a profit of about Rs 50,000 even after deducting expenses.Farmer activist Rakesh Bains from Kurukshetra echoes this view, noting that alternative crops yield only around Rs 50,000 per acre compared to paddy’s Rs 80,000, making rice the more attractive option.Which crops have Haryana farmers switched from?Former Indian Council of Agricultural Research (ICAR) scientist Virender Lather explains that farmers have shifted from cotton, maize, jowar, pulses, and oilseeds to paddy in recent years, with cotton losing the most ground.Bt‑cotton, once resistant to pests like the pink bollworm, has lost its effectiveness as pests have adapted over time. Farmers now spend heavily on pesticides but still face yields as low as two quintals per acre, far below the eight quintals needed for profitability. This leaves them with losses of nearly Rs 15,000 per acre.What has the government done to promote crop diversification?Recognising the risks of farmers shifting to water‑intensive paddy, the Haryana government has introduced measures to promote diversification. Under the ‘Mera Pani Meri Virasat’ scheme, farmers receive Rs 8,000 per acre for cultivating less water‑consuming crops such as pulses, cotton, and maize. Chief Minister Nayab Singh Saini recently announced that Rs 157 crore has been distributed over 2.20 lakh acres under this scheme. Additional incentives include up to an 85 per cent subsidy for micro‑irrigation technologies, rainwater harvesting, and pond construction.What do experts and farmers suggest?To encourage sustainable practices within rice cultivation itself, the government offers Rs 4,000 per acre for adopting Direct Seeded Rice (DSR), which uses less water than traditional transplanting. However, experts like Virender Lather argue that the incentive is too low to change farmer behaviour and even suggest banning traditional paddy cultivation to restore Haryana’s falling water table. Farmers, meanwhile, stress that better marketing and procurement facilities for alternative crops are essential if diversification is to succeed.READ MORE :- Indian Rupee Opens 8 Paise Lower Against US Dollar at 96.28

The Rupee opened 8 paise lower at 96.28 against the USD.On Friday, the Indian Rupee opened 8 paise lower against the Dollar at 96.28, whereas it had closed at 96.20 on Thursday.Read more:-  Bhakra Canal Irrigation Water Released in Rajasthan; Cotton and Narma Sowing to Accelerate

Rajasthan: Irrigation Water from Bhakra Canal System Starts Today; Cotton and Narma Sowing Set to Gain MomentumThere is welcome news for farmers in Hanumangarh district. The supply of water for irrigation from the Bhakra canal system commenced on Thursday. The Water Resources Department has issued a new rotation schedule for the Bhakra system, announcing the weekly priority order for the period from May 21 to May 29. Under this plan, canals with a capacity of 1,200 cusecs will be operated at their full capacity, while water will be released into smaller canals in accordance with their designated capacities.According to the department, water will flow at a rate of 42 cusecs in the Ratanpura canal, 73 cusecs in Nathwana, 248 cusecs in Pratappura, 261 cusecs in Haripura, 274 cusecs in Deengarh, and 283 cusecs in Suratpura. Additionally, adequate quantities of water will be released into major canals such as Modia, Longwala, Pilibanga, Amarpura, and Rodanwali. The highest volume—2,222 cusecs—will flow through the Sangaria canal.Officials stated that each canal will be operated at full capacity for a period of eight days, after which it will be shut down. Should there be any fluctuation in water levels, necessary adjustments to the regulation schedule will be made following consultations with the concerned officials.Agricultural experts note that the current period is crucial for the sowing of Narma (American cotton) and traditional cotton varieties. Over the past few days, farmers had been facing difficulties in preparing their fields due to intense heat and a scarcity of water. With the arrival of water in the canals, sowing operations are now expected to accelerate.Farmers have expressed optimism that if the water supply remains consistent in the coming days, the production of cotton, Narma, and other Kharif crops will be bountiful. Furthermore, the increased availability of water in rural areas is expected to provide residents with much-needed relief from the scorching summer heat.read more :- Government Rejects ‘Dumping Ground’ Tag, Defends India’s Textile Recycling Ecosystem

Labeling India a 'Dumping Ground' for Textile Waste is Misleading: Central GovernmentNew Delhi: Defending India's textile recycling ecosystem, the Central Government has stated that characterizing the country as a "dumping ground" for textile waste is misleading and contrary to facts. In a statement issued on Thursday, the Ministry of Textiles asserted that India possesses one of the world's largest textile recovery and recycling networks, underpinned by long-standing mechanisms for reuse and recycling.The Ministry noted that recent international media reports—which focused on textile clusters such as Panipat—exaggerated concerns regarding environmental impact and labor safety, while overlooking the progress achieved within the sector toward sustainability, regulatory reforms, and the adoption of new technologies.The government unequivocally stated that portraying the Indian textile industry as environmentally negligent or structurally exploitative is erroneous; such characterizations fail to acknowledge the ongoing corrective efforts and sustainability-driven initiatives within the sector.According to the Ministry, approximately 7,073 kilotons of textile waste are generated in India annually. Citing the study "Mapping of Textile Waste Value Chain in India 2026," the government highlighted that nearly 97 percent of pre-consumer textile waste—generated during the manufacturing process—is recycled.The government also refuted claims suggesting that India is becoming a primary destination for fast-fashion waste from Western nations. According to the Ministry, out of the approximately 7.8 million tons of textile waste managed within the country, over 90 percent is generated domestically, whereas imported waste accounts for a share of only about 7 percent. Citing a report by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Ministry stated that the textile waste ecosystem generates economic activity worth approximately ₹22,000 crore annually within the country.The government also referred to a study conducted by researchers at IIT Delhi, which, based on data from the Panipat cluster, found that textile recycling leads to a reduction of approximately 40 percent in environmental impacts—such as greenhouse gas emissions and fossil fuel consumption—compared to the production of virgin fibers.While the government acknowledged that challenges related to post-consumer waste management, unorganized sector units, and worker safety still persist, it noted that the industry is continuously moving towards more formalized systems, cleaner technologies, and improved environmental compliance.The Ministry further stated that textile recycling units operate under existing environmental and labor laws, and various regulatory agencies—including the National Green Tribunal (NGT)—are taking action against units found to be in violation of these regulations.read more :- The rupee closed 10 paisa higher against the dollar at 96.20