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All India Weather Forecast for January 26, 2022Weather systems made across the countryThe Cyclonic Circulation is over Northwest Uttar Pradesh and another Cyclonic Circulation lies over Jharkhand.A trough is extending from Punjab to Jharkhand up to Northwest Uttar Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, dense to very dense fog fell over some parts of Punjab, Northwest Rajasthan and parts of Delhi & NCR.Cold day to severe call detail situation prevailed in parts of Himachal Pradesh, West Madhya Pradesh and North Rajasthan. Cold day conditions prevailed over Uttarakhand, parts of Haryana, Delhi, West Uttar Pradesh and Gujarat.Cold wave was observed in some parts of Gujarat.Light rain and snowfall occurred over the Western Himalayas.Light to moderate rain occurred over Andaman and Nicobar Islands.Light to moderate rain occurred at isolated places over East Uttar Pradesh, parts of Jharkhand, Bihar, Manipur, Mizoram, Tripura, Nagaland, Coastal Andhra Pradesh, Coastal Tamil Nadu and West Bengal and Arunachal Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, one or two places of rain with light rain may occur in Northeast India.Scattered light rain and snow are possible over the Western Himalayas and hills of Arunachal Pradesh.Light rain is possible over Bihar, Jharkhand, parts of Sub-Himalayan West Bengal and parts of Coastal Odisha, Coastal Andhra Pradesh and Tamil Nadu.Cold day conditions may continue over parts of Punjab, Haryana, West Uttar Pradesh and Delhi NCR.Cold wave conditions are possible over some parts of Gujarat.

Today evening, the rupee depreciated by 22 paise to close at Rs 74.78 against the dollar.The decline in the Sensex ended, closed up by 367 pointsToday the stock market closed sharply.Today, where the Sensex closed at a level of 57858.15 with a gain of about 366.64 points.Nifty closed at the level of 17278.00 points with a gain of 128.90 points.   

Budget 2022: Introduce PLI scheme for cotton textiles; make import of cotton yarn duty-freeWith slowdown in China, apt time to provide sops for textile industryAs far as the Indian textile industry is concerned, it is currently staring at the dawn of a bright future that upholds the promise of growth. The recent China+1 policy adapted by manufacturers in addition to the slowdown in China will enable sourcing destinations such as India to grab a significant share of the global textile market.Our manufacturing prowess coupled with ease of access to raw materials and labour force has already made us a preferred destination for sourcing by leading global brands of repute to source products. It is the opportune time for the government to provide desired support in terms of sops to the textile industry to propel its growth further and significantly enhance the industry position globally.Textile and apparel industry, contribute majorly in export earnings and employment generation, is expecting changes in taxes, PLI scheme, and customs duty in the upcoming Budget. The garment and fabric export industry suffered heavily last year due to an over 100 percent increase in cotton fibre prices.This crisis was further accentuated due to the levied 10 percent customs duty on the import of cotton fibre. To ease supply, this duty should be revoked. Also, since cotton yarn prices have increased by about 78 percent, this year has had an impact on the sector significantly. If the import of cotton yarn is made duty-free it would help in increasing supply domestically.Extend RODTEP scheme for deemed exportsLast year, the government re-introduced the Rebate of State and Central Taxes and levies (ROSCTL) for Garment exports and Remission of Duty and Taxes on Export Products (RoDTEP) for the yarn and fabric industry. These schemes helped the industry to get rebates of embedded central and state taxes. Additionally, to encourage value-added exports wherein the fabric export is converted to garment export, the RODTEP scheme should also be extended for deemed exports. Further to boost exports, the ROSCTL scheme should be extended also to advance license so that the garment manufacturers are encouraged to buy fabric for their exports indigenously.To combat the shortage of short-staple spinning capacity in the country, a PLI scheme should be introduced for cotton textiles. Sops for Textile parks in terms of capital expenditure on utilities like ETP etc. can enhance price competitiveness.The consumers and trader associations had expressed their displeasure on the GST hike on textiles and apparel, urging the government to reconsider its decision. The Indian textile industry has bounced back very strongly this year compared to last fiscal with the restrictions and lockdown in certain cities. India’s T&A exports are estimated to have increased to $40 billion. The industry exports are growing at a healthy level of approximately 20 percent registered in all segments from fiber, yarn, fabric, apparel to home textile, etc.With a goal to achieve T&A exports of 65 billion and above by 2025, there is a dire need for radical reforms that just do not address recovery but accelerate the pace of growth for the Indian economy.

Rupee depreciates against dollar, loses 1 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 1 paise at Rs 74.57 against the dollar. At the same time, on Monday, the rupee closed at a level of 74.56 with a weakness of 14 paise against the dollar.

Sensex opened again, breaking 805 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 805.26 points and opened at the level of 56686.25 points.

NAEC seeks govt intervention in containing high cost of cotton yarn, fabrics to boost exports"The Noida Apparel Export Cluster (NAEC) on Sunday sought immediate intervention of the government in containing high cost of cotton yarn and fabrics, saying rising prices are impacting exporters. NAEC president Lalit Thukral suggested control in cotton exports, removal of 10 per cent cotton import duty, and development of a mechanism to regulate the prices of cotton and other raw materials to support the sector."Apparel industry is facing a severe problem of high cost of cotton yarn and fabrics. During the last couple of months the cotton prices have been hiked up to 80 per cent. The prices of the cotton per candy of 335 kg went to Rs 74,000 from Rs 37,000. In apparel making, 75 per cent of raw material used is cotton," he said.He added that the unexpected steep price rise of the cotton posed a great challenge to the apparel manufacturers and exporters as it is hurting the production cost, which has been increased many folds.""Indian exporters are losing export orders and facing tough competition in the global export market. Moreover, they are also losing confidence of the importers and the buying houses," Thukral said, adding the major reason for this situation is unchecked export of cotton to competing countries like Bangladesh, Vietnam and Thailand.""MSME apparel production units are facing the high price rise issue along with capital and liquidity crunch.He added that the prices of the fabrics have been increased to Rs 40-50. Bangladesh, Vietnam Thailand and other countries are manufacturing apparels with low production cost because of cotton imported from India and posing strong competition to India in the global market."Immediate intervention of the government is needed to save the apparel industry," he said adding "unlike Bangladesh, we are not having free trade agreements"."

All India Weather Forecast for January 25, 2022Weather systems made across the countryA Cyclonic Circulation is persisting over Punjab and adjoining areas.A trough is extending from this cyclonic circulation up to Bihar.Another trough is extending from Bihar to South Odisha.Weather movement across the country during the last 24 hoursDuring the last 24 hours, the minimum temperature has dropped by 5 to 7 degrees over East Gujarat, North Konkan and parts of Goa, Vidarbha, Madhya Pradesh and Telangana.The remaining parts of North-West and Central saw a drop of 3 to 4 degrees in the minimum temperature.Snowfall with light to moderate rain and scattered heavy rains occurred over the Western Himalayas.Light to moderate rain occurred at one or two places in Odisha.Light to moderate rain occurred over northern parts of Punjab, parts of Haryana, Uttar Pradesh, Gangetic West Bengal, Tamil Nadu and Jharkhand.Light rain occurred over Meghalaya, Nagaland, Manipur, Mizoram, Tripura, parts of Bihar, Chhattisgarh, Coastal Andhra Pradesh and Andaman and Nicobar Islands.Isolated light rain occurred over Konkan and Goa.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snow are possible over Western Himalayas.Light rain may occur at isolated places over northern parts of Punjab, parts of Haryana, Uttar Pradesh, West Bengal, Odisha and Northeast India.Light rain may occur over Coastal Andhra Pradesh, Tamil Nadu and Andaman and Nicobar Islands.The minimum temperatures are likely to drop further over Northwest, Central and East India. Telangana's minimum temperature may also drop by 3 to 4 degrees.

Rupee down by 14 paise to close at Rs 74.56 against dollar today evening.Today the closing took place with a fall in the stock market.Today, where the Sensex closed at a level of 57491.51 points, down 1545.67 points. On the other hand, Nifty closed at the level of 17149.10 points down by 468.10 points. 

All India Weather Forecast for January 24, 2022Weather systems made across the countryThe Western Disturbance is over Ladakh and is moving eastwards.An Induced Low Pressure Area is being observed over Northwest Rajasthan. The associated cyclonic circulation extends up to 1.5 above mean sea level.Weather movement across the country during the last 24 hoursDuring the last 24 hours, there has been heavy snowfall over Gilgit-Baltistan, Muzaffarabad, Ladakh, Himachal Pradesh and Uttarakhand with moderate rain and snow at a few places.Light to moderate rain occurred at one or two places in parts of Punjab, Haryana, Delhi and Northeast Rajasthan.Light to moderate rain occurred over East Madhya Pradesh, Uttar Pradesh and parts of Bihar and Jharkhand.Light rain occurred at isolated places over rest of Madhya Pradesh, Konkan and Goa, Madhya Maharashtra, West Bengal, Chhattisgarh, Assam, Meghalaya, Arunachal Pradesh and Odisha, East Gujarat and Andaman and Nicobar Islands.The minimum temperature fell by 5-7 degrees in Gujarat and 3-4 degrees in western parts of Rajasthan and Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls very likely to occur over Western Himalayas.Light to moderate rain may occur over Uttar Pradesh, Bihar, Jharkhand, West Bengal, parts of Haryana, Punjab, Assam and Arunachal Pradesh.Light rain is possible at isolated places over Delhi, Chhattisgarh, Odisha, Coastal Andhra Pradesh and Andaman and Nicobar Islands, Tamil Nadu and South Konkan and Goa.The minimum temperature is likely to drop by 3-4 degrees over Northwest and Central India.

COTTON: Net sales of 273,000 RB for 2021/2022 were down 32 percent from the previous week, but up 12 percent from the prior 4-week average.  Increases primarily for Pakistan (62,600 RB), China (62,200 RB, including 6,400 RB switched from Vietnam), Bangladesh (28,100 RB), Vietnam (27,200 RB, including 1,300 RB switched from Japan), and Turkey (25,800 RB), were offset by reductions for Japan (900 RB) and Mexico (400 RB).  Net sales of 139,200 RB for 2022/2023 were primarily for Pakistan (95,000 RB) and Honduras (22,200 RB).  Exports of 198,700 RB were up 19 percent from the previous week and 41 percent from the prior 4-week average.  The destinations were primarily to China (55,200 RB), Vietnam (54,200 RB), Mexico (31,200 RB), Pakistan (13,700 RB), and Turkey (10,300 RB).  Net sales of Pima totaling 3,800 RB were up 58 percent from the previous week, but down 26 percent from the prior 4-week average.  Increases were primarily for India (1,200 RB), Italy (500 RB), Japan (500 RB), Taiwan (400 RB), and Pakistan (400 RB).  Exports of 7,500 RB were down 19 percent from the previous week, but up 7 percent from the prior 4-week average.  The destinations were primarily to India (2,400 RB), Peru (1,500 RB), Pakistan (1,000 RB), Germany (900 RB), and Egypt (900 RB).  Optional Origin Sales:  For 2021/2022, new optional origin sales of 52,800 MT were reported for Vietnam.  The current outstanding balance of 61,600 RB is for Vietnam (52,800 RB) and Pakistan (8,800 RB).Exports for Own Account:  For 2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.

Today evening, the rupee strengthened by 8 paise to close at Rs 74.42 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at the level of 59037.18 points down by about 427.44 points.Nifty closed at 17617.20 points down by 139.80 points.