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The Indian rupee on Thursday lower 03 paise to close at 91.60 per dollar, while it opened at 91.57 in the morning.Benchmark indices ended sharply higher on Thursday, with the Sensex rising 900 points, or 1.14 percent, to close at 80,015, while the Nifty gained 285 points, or 1.17 percent, to settle at 24,765. read more :- Mega Textile Park proposal sent to Division

Proposal for establishment of Mega Textile Park sent to the concerned divisionOn the occasion of Holi festival, a big positive news related to the industrial sector has come out for Bhilwara. Under the Mega Textile Park Scheme of the Central Government, the process for setting up a park in Bhilwara has been taken forward.After the announcement of Mega Textile Park in the Union Budget (February 1), MP Damodar Aggarwal wrote a letter to the Prime Minister, Union Textiles Minister and Chief Minister on February 3, again strongly demanding the establishment of a park in Bhilwara. In this matter, on February 11, Union Textile Minister Giriraj Singh informed that the proposal for setting up a mega textile park in Bhilwara has been sent to the concerned department for further action.It is expected that soon Bhilwara will receive positive information in this regard. According to Prem Garg, General Secretary of Bhilwara Textile Trade Federation, MP and Federation President Damodar Aggarwal has been engaged in this effort for a long time. Due to the decision of the previous state government, the Bhilwara proposal could not be sent to the Center on time. The Ashok Gehlot-led government at that time sent Jodhpur's proposal, which was rejected by the central government, while textile parks were allotted to other states.It was told that Union Minister Giriraj Singh was invited to Bhilwara on 15 April 2025 and informed about the textile industrial potential of this place. Urged to give Bhilwara its rights. The minister had also given positive assurance in this direction. It is known that Bhilwara is recognized as a major textile industry center in the country. If a mega textile park is established here, it can give a new impetus to the industrial development, employment generation and export growth of the area.read more :- 7000 farmers of Sirsa benefited from cotton sowing scheme

Sirsa: 7,000 Farmers to Benefit from Enhanced Cotton Sowing SchemeSirsa: In a move to promote indigenous cotton cultivation, the Haryana government has increased the financial assistance under its cotton sowing scheme. Farmers will now receive ₹4,000 per acre, up from the earlier ₹3,000, aiming to revive interest in desi cotton across the state.Around 7,000 registered farmers in Sirsa district are expected to directly benefit from this scheme. Known as a major hub for indigenous cotton, Sirsa has historically led cotton production in Haryana. However, in recent years, farmers shifted away from cotton due to declining yields caused by pink bollworm infestations and other crop diseases.As a result, many farmers moved towards paddy cultivation, leading to a sharp drop in cotton acreage. Through this enhanced incentive, the government aims to encourage farmers to return to cotton farming and increase the cultivation area.The issue of declining cotton cultivation was raised in the Haryana Assembly by Congress MLA Gokul Setia, who demanded expansion of the scheme and better support for farmers. Responding to the concerns, Agriculture and Panchayat Minister Shyam Singh Rana acknowledged the need for higher incentives and improved seed quality.Agriculture Department officials stated that around 17,000 acres in Sirsa are currently under indigenous cotton cultivation. They have also recommended including cotton under the Bhavantar Yojana to ensure farmers are compensated when market prices fall below expected levels.Officials believe that increasing financial support and ensuring price protection will help restore farmers’ confidence in cotton cultivation.Key Highlights of the Scheme:Incentive increased to ₹4,000 per acre for desi cotton cultivationAdditional bonus of ₹2,000 per acre for growing cotton, pulses, and oilseeds instead of paddyExpansion of organic farming in 10 marketsHigher compensation under CM Horticulture Insurance Scheme for fruits, vegetables, and spices₹5,000 per acre incentive for sugarcane cultivation using single bud technologyBeekeeping to be included under horticulture insurance scheme7 veterinary dispensaries and 4 government veterinary hospitals to be establishedThis initiative is expected to boost cotton cultivation, support farmers’ income, and strengthen the agricultural economy in the region.

 Rupee opens 57 paise up at 91.57/USD Indian rupee opened 57 paise higher at 91.57 per dollar on Thursday versus previous close of 92.14.read more :- Land to 23 textile investors in PM Mitra Park

PM MITRA Park Tamil Nadu Allocates 190 Acres of Land to 23 Textile InvestorsThe Board of Directors of PM MITRA Park Tamil Nadu has allocated 190.44 acres of industrial land to 23 investors, unlocking committed investments of approximately ₹2,192.21 crore (~$264 million) and creating the potential for approximately 15,000 jobs. Approved proposals include integrated plants, yarn manufacturing, fabric production, processing and finishing, apparel manufacturing, and technical textiles.The allocations indicate the industry's strong confidence in the park's governance structure and long-term competitiveness. According to a press release issued by the Indian Ministry of Textiles, the PM MITRA Park in Virudhunagar is expected to accelerate the development of an integrated yarn-to-garment value chain in a region already known for textile and apparel manufacturing and exports.The park, one of seven mega textile parks under the PM MITRA scheme, is being developed at a cost of ₹1,894 crore ($228 million). It will include a 15 MLD CETP with ZLD, a 20 MLD ZLD facility, a 20 MW solar power plant, a centralized steam boiler, and approximately 1.3 million square feet of plug-and-play units. Located on NH 44 and 106 km from Tuticorin Port, it offers strong logistics connectivity. Infrastructure work worth approximately ₹550 crore ($60 million) is underway, targeted for completion by December 2027.The 9th Board meeting, held on February 27, 2026, was chaired by Neelam Shami Rao, Secretary, Ministry of Textiles. Among those present were Rohit Kansal, Additional Secretary, Ministry of Textiles; Arun Roy Vijayakrishnan, Secretary, Department of Industries, Investment Promotion and Commerce, Government of Tamil Nadu; Senthil Raj Krishnan, MD, SIPCOT; With representatives from NICDC, Ministry of Textiles and SIPCOT.

India introduces deferred customs duty payments for some importersThe Central Board of Indirect Taxes and Customs (CBIC) of India has recently introduced a new facility for credible manufacturers by enabling the facility of deferred payment of customs duty for a new category of importers called 'Eligible Manufacturer Importers' (EMIs).This facility will be available from April 1 and will be applicable till March 31, 2028.The decision was taken after the announcement by Finance and Corporate Affairs Minister Nirmala Sitharaman in the budget for the financial year 2026-27.The reforms are expected to improve ease of doing business, strengthen compliance, promote wider participation in the Authorized Economic Operator (AEO) program and boost domestic manufacturing, a Finance Ministry release said.CBIC has issued detailed eligibility conditions, application process and operational guidelines in this regard.Under the initiative, EMI can be paid for imported goods without paying customs duty at the time of clearance. Instead, the applicable duty can be paid on a monthly basis, as prescribed under the Deferred Payment of Import Duty Rules, 2016, thereby helping manufacturers better manage cash flow and working capital.The deferred payment facility will be available for EMIs meeting the prescribed criteria related to Customs and Goods and Services Tax (GST) compliance, turnover, financial position and past track record. Existing entities including Micro, Small and Medium Enterprises under AEO Tier 1 (T1), who satisfy the eligibility conditions, are also eligible to participate.The release said the EMI scheme has been designed as a confidence-based convenience measure to encourage compliant manufacturers to benefit from the simplified processes and motivate them towards higher levels of compliance.During the validity period of the scheme, approved EMIs are expected to progressively attain AEO-T2 or AEO-T3 status, thereby enabling access to enhanced convenience, faster approvals and priority treatment under the AEO programme.read more :- Iran-Israel war: The price may prove costly for India

Oil, Textiles & More: The Cost India May Pay for the Iran–Israel WarThe escalating conflict between Israel and Iran is beginning to impact India’s economy, with rising household prices and growing pressure on exporters. Disruptions in shipping lanes and air routes across West Asia are pushing up logistics costs, delaying deliveries, and unsettling commodity markets.Prices of staples such as pulses and onions have started climbing as supply chains face uncertainty. Exporters of rice, textiles, gems, electronics, and IT services are also reporting higher freight rates and longer transit times.In 2025, India exported goods worth $1.2 billion to Iran, including rice ($747 million), bananas ($61 million), and tea ($51 million). Imports from Iran comprised petroleum coke ($135.7 million), apples ($71.5 million), and dates ($33.3 million).Textile exports hit by shipping delays :-India’s garment and textile sector is among the first to feel the heat, as vessels avoid the Strait of Hormuz — a key route for trade between Asia and the West. Ships headed to Europe and the US may now take the longer route around the Cape of Good Hope, extending delivery times by up to 25 days.“We will face delays in shipments going to Europe and the USA as the shipping routes would now avoid the Gulf region,” said Vijay Agarwal, chairman of the Cotton Textiles Export Promotion Council. “It’s going to hurt us as we are in the fashion business, which is very time-sensitive.”In Tiruppur, which accounts for over 40% of India’s knitted garment exports, manufacturers fear missed deadlines and tighter cash flows. “Some April orders have been shipped, while others are still being produced. Any delay has financial implications,” said Raja M. Shanmugham, former president of the Tiruppur Exporters’ Association.“Even Dubai is an important transit hub,” added K. M. Subramaniam, current president of the association. “If airspace there closes, exports could be severely disrupted.”Oil shock raises fiscal concerns :-Crude oil prices surged after US–Israeli strikes killed Iran’s Supreme Leader, with Brent crude hitting $82.37 per barrel on Monday — the highest since January 2025. Nearly 20% of global oil trade and 40% of India’s crude imports move through the Strait of Hormuz.“For India, each $1 increase in crude adds roughly $2 billion to the annual import bill,” said JM Financial in a note. Sustained high oil prices could raise petrol, diesel, and LPG costs, strain public finances, and widen the fiscal deficit.HDFC Bank warned that higher oil prices may also weaken the rupee and expand the current account deficit. India’s strategic oil reserves cover around 74 days of demand, but analysts caution that if tensions persist, Brent could rise to between $90 and $110 per barrel.Broader impact :-The Iran–Israel conflict underscores India’s vulnerability to instability in West Asia — a region critical for both energy and exports. From household groceries to high-value shipments, the economic shock could deepen if the crisis escalates further.read more :- Rupee fell 22 paise to close at 91.47 per dollar

The Indian rupee on Monday lower 22  paise to close at 91.47 per dollar, while it opened at 91.25 in the morning.At close, the Sensex was down 1,048.34 points or 1.29 percent at 80,238.85, and the Nifty was down 312.95 points or 1.24 percent at 24,865.70. About 820 shares advanced, 3386 shares declined, and 130 shares unchanged.read more :- Cotton yarn prices fall 2% due to RoDTEP cut in India

Cotton yarn prices in India fell by 2% after RoDTEP cut.India’s cotton yarn market has weakened after the recent reduction in benefits under the Remission of Duties and Taxes on Exported Products scheme. Export rebates for cotton yarn have been reduced from around 3.4% of FOB value to 1.7%. The 50% cut has immediately narrowed exporter margins.India cotton yarn prices fall up to 2% after RoDTEP cut squeezes export marginsSouth India, which accounts for nearly 60% of India’s spinning capacity, has seen slower trade over the past week. In key hubs such as Coimbatore and Tiruppur, traders report that yarn prices have declined by ₹2 to ₹5 per kilogram across several commonly traded counts.In Mumbai, prices of 30 count carded cotton yarn fell by about ₹3 per kilogram,while 40 count combed yarn dropped by around ₹4 per kilogram compared with the previous week of February 2026. Overall, spot yarn prices corrected by 1% to 2% in the short term.India’s cotton yarn exports reached about $3.77 billion in FY2023–24, according to Texprocil trade statistics. A 1.7% reduction in export rebates could cut about $60 million from industry earnings each year. Since most mills work with profit margins of only 3% to 5%, this loss is very significant.Domestic demand has also remained cautious. Fabric and garment units have adequate inventory and are not placing aggressive fresh orders. Capacity utilization in several spinning units has reportedly slipped to 75% to 80%, compared with over 85% during stronger export cycles.The competitiveness gap is a growing concern. Competing producers in Bangladesh and Vietnam continue to benefit from stable export support structures and trade advantages. Even a 1% pricing difference can influence sourcing decisions in large volume contracts.Industry associations have appealed to the Government of India to review the revised rates. They argue that the spinning sector supports more than 50 million jobs across the textile value chain and contributes substantially to rural employment and cotton procurement.In the near term, price recovery will depend on three variables. These include clarity on export incentives, stability in domestic cotton prices, and improvement in global apparel demand. Until then, Indian yarn markets are expected to remain soft with limited upward momentum.read more :- US cotton acreage at lowest level in decade in 2026: CoBank

US cotton acreage seen falling to a decade low in 2026: CoBankU.S. cotton planting area is projected to decline for the second consecutive year in 2026, with acreage expected to fall by 9 million acres, down 3 percent year over year and the lowest level in more than a decade, according to CoBank analysis. This approach reflects lower price competitiveness compared to alternative crops and changes in grower economics ahead of spring planting decisions.Sectoral changes are expected to fuel the contraction. Cotton acreage in the southern United States is expected to shift toward soybeans amid improved profitability prospects, while irrigated cotton areas in the Plains are likely to shift toward corn production as producers rebalance crop rotations and manage input cost pressures, Cobank said in an article by Tanner Ehmke and Emmy Noyes.The slowing pace of U.S. cotton exports to China, increased competition from Brazil and Australia in global markets, and continued replacement by man-made fibers have collectively hindered price recovery, limiting producers' willingness to expand cotton acreage.Despite the projected decline, some degree of support is expected from the policy mechanism. Adjustments to base acreage payments under agricultural support programs are likely to moderate, helping to stabilize cotton plantings and prevent a sharp contraction in the 2026 season.read more :- India-EU FTA: 5-year MFN agreement

EU, India agree on 5-year MFN status under proposed FTA The European Union (EU) and India have agreed to grant each other the ‘most favoured nation’ (MFN) status for five years from the date their planned free trade agreement (FTA) comes into force, according to a draft of the deal released recently by the Indian commerce ministry.This implies neither side can give more favourable tariff terms to other trading partners for five years.Both sides announced on January 27 that talks on the FTA had concluded. The pact will allow 93 per cent of Indian exports to enter the EU duty free.The agreement also contains an annexure that provides for mediation, allowing disputes to be resolved through a fast-track process with the help of a mutually agreed mediator.The two sides have agreed not to introduce new import or export curbs beyond what is allowed under World Trade Organisation (WTO) rules. They agreed to step up cooperation in digital trade, agreeing to reduce unjustified barriers and supporting an open and secure online space..The draft text sets out plans for closer customs cooperation and quicker clearance of goods. These commitments will become binding after ratification.The two sides will start sharing annual import data one year after the deal takes effect. They have also agreed to provide fair and accessible appeal processes for customs decisions related to imports, exports or goods in transit.read more :- The rupee fell 28 paise to open at 91.25.