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Odisha To Set Up Textile Mills In Cotton Belt, Announces CM Mohan Majhi.Bhubaneswar: The Odisha government will set up textile mills in the State’s cotton-producing districts, Chief Minister Mohan Charan Majhi announced on Sunday. The CM’s announcement signals a policy push to retain value addition and jobs within the state’s agrarian hinterland.Speaking during a visit to Sonepur, Majhi said western Odisha—particularly districts such as Bolangir, Kalahandi and Sonepur—would be prioritised for textile-led industrialisation, addressing a long-pending demand of cotton farmers and local industry.Despite producing lakhs of quintals of cotton annually, Odisha lacks adequate processing capacity, forcing farmers to send raw cotton to other states for ginning and manufacturing. This has resulted in lower returns and limited local employment. Textiles have been identified as one of the state’s 16 priority sectors, the Chief Minister said, adding that industrialisation would be expanded across all 30 districts. “Roadshows have been conducted and investors have shown interest. Textile mills will be set up in cotton-producing regions through a transparent process,” he said.The move is part of the government’s ‘Field to Fashion’ initiative, aimed at integrating cotton cultivation with garment manufacturing within the state. Officials said the plan is expected to generate large-scale employment, curb migration from western Odisha and strengthen farmer incomes. Currently, thousands of tonnes of cotton from Odisha are exported to other states and overseas markets, including Bangladesh. The proposed mills are expected to anchor a local textile value chain and give a significant boost to the State’s industrial landscape.read more :- The rupee opened 01 rupee 21 paise higher at 90.30 against the dollar.

Rupee opened 01 rupee 21 paise higher at 90.30/USDIndian rupee opened higher at 90.30 per dollar on Tuesday versus previous close of 91.51after blockbuster Modi-Trump dealread more :- Tamil Nadu: Textile industry gets relief from budget, import duty becomes cause for concern

Tamil Nadu textile industry welcomes budget reforms, raises concerns over import dutyChennai, Feb 2: Tamil Nadu's textile and apparel industry, the cornerstone of India's export sector, has widely welcomed the initiatives in the Union Budget to emphasize infrastructure, skill development and export facilitation. The industry appreciated schemes like National Fiber Scheme, Mega Textile Park and Samarth 2.0, which were considered important for modernizing and upgrading the textile skills ecosystem.However, the industry has warned that if the 11 per cent import duty on cotton is maintained, the impact of these reforms may be limited. Industry leaders from Tamil Nadu and other major textile manufacturing centers say timely availability of quality cotton is extremely essential to secure export orders and maintain employment in the value chain.South India Mills Association President Durai Palanisamy said it is necessary to remove import duty on all types of cotton to overcome the shortage of quality cotton and meet export commitments. He pointed out that domestic cotton prices in India are already about five per cent higher than international levels, while 15 per cent higher than Brazilian cotton.He also said that this price gap could widen in the coming months and seriously impact the financial viability of the entire textile value chain. Durai pointed out that the textile and apparel sector provides direct employment to about 35 million people and about 75 percent of India's total exports come from Tamil Nadu.M. Jaipal, President of Recycled Textile Federation, also expressed disappointment over the import duty and high GST rate (18 percent), which needs to be reduced to 5 percent. He said that without these measures, the availability of raw materials at globally competitive prices will be limited.Meanwhile, Apparel Export Promotion Council Chairman A. Sakthivel appreciated the emphasis on liquidity and business convenience in the budget. He said customs reforms and simplified documentation will reduce transaction costs and increase operational efficiency. He suggested that combining these steps with the review of cotton import duty would strengthen India and Tamil Nadu's position as a global textile hub.read more :- CITI: FY27 budget to boost textile exports

FY27 Budget to Boost Textile Exports, Improve Global Competitiveness: CITINew Delhi: The Confederation of Indian Textile Industries (CITI) has welcomed the Union Budget for FY27, stating that it will play a crucial role in enhancing the global competitiveness of India’s textile and apparel sector, boosting exports, and safeguarding employment.CITI said the Budget reflects the government’s commitment to strengthening the sector against global uncertainties and economic challenges.Commenting on the Budget, CITI Chairman Ashwin Chandran said the measures announced will help “future-proof” the textile and apparel industry and strengthen its contribution to the Grow India mission. He expressed gratitude to the Prime Minister, Finance Minister, and the Ministry of Textiles, noting that the initiatives will drive innovation, sustainable production, and employment generation.The Budget includes several key initiatives such as the National Fibre Mission, Mahatma Gandhi Gram Swaraj Initiative, Tex-Eco Initiative, Mega Textile Parks under a challenge mode, Modernisation of Traditional Clusters, Textile Expansion and Employment Programme, National Handloom and Handicraft Programme, and Samarth 2.0 Skill Development Scheme. According to Chandran, these programmes will improve efficiency, encourage innovation, and promote sustainability across the sector, thereby strengthening India’s position in global markets.However, he noted that the Budget did not announce any direct reduction in import duties on cotton-based products, which remains important for improving cost competitiveness. These products account for nearly 60% of India’s textile and apparel market. He also highlighted the need for a dedicated scheme to support MSMEs in adopting sustainable production practices, which would help India benefit from the upcoming India–EU Free Trade Agreement (FTA).CITI also welcomed measures such as extending the export realisation period from six months to one year, logistics reforms through freight corridors, simplification of export-import procedures, and the formation of a high-level banking committee aimed at supporting a developed India.Chandran said the industry body will continue working closely with the government to achieve a $350 billion textile and apparel industry size and a $100 billion export target by 2030.The textile and apparel sector remains India’s second-largest employment generator and contributes significantly to GDP and overall exports. However, the industry has been impacted by a 50% US tariff effective from August 27, 2025, as the United States is India’s largest textile export market. India’s textile and apparel exports to the US stood at around $11 billion in FY2024–25, accounting for nearly 28% of total sector exports.read more :- Rupee higher 25 paise to close at 91.51 per dollar

The Indian rupee on Monday higher 25  paise to close at 91.51 per dollar, while it opened at 91.76 in the morning.At close, the Sensex was up 943.52 points or 1.17 percent at 81,666.46, and the Nifty was up 262.95 points or 1.06 percent at 25,088.40. About 1919 shares advanced, 2166 shares declined, and 159 shares unchanged.read more :- New schemes for textile sector and MSME

Labour-intensive textile sector, MSMEs to get new schemesM. Soundariya PreethaCOIMBATORELabour-intensive textile and apparel and Micro, Small and Medium-scale Enterprise (MSME) sector impacted by geopolitical developments in the last two years received a boost from the Budget with new schemes and higher allocations.Jump in allocationThe textile sector will see almost a 25% jump in budgetary allocation for 2026-2027 from the current financial year while the MSME sector will see doubling of allocation.Union Finance Minister Nirmala Sitharaman said Central Public Sector Enterprises would establish high technology tool rooms in two locations as digitally enabled automated service bureaux that locally design, test and manufacture high-precision components at scale and at lower cost.A Scheme for Enhancement of Construction and Infrastructure Equipment would be introduced to boost local manufacturing of high-value and technologically-advanced equipment.A sum of ₹10,000 crore would be allocated during the next five years for a scheme for container manufacturing.For the ‘labour-intensive textile sector’, the government proposed comprehensive measures that would include a special programme to promote sports goods, a National Fibre Scheme for man-made fibre, silk, wool, etc., mega textile parks developed on challenge mode for value addition to technical textiles, a Textile Expansion and Employment Scheme to modernise traditional clusters with capital support for machinery, technology upgradation and common testing and certification centres.A National Handloom and Handicraft programme would ensure targeted support for weavers and artisans. Mahatma Gandhi Gram Swaraj initiative would boost khadi, handloom and handicraft, Tex-Eco Initiative would promote globally competitive and sustainable textiles and apparel and Samarth 2.0 would upgrade the textile skilling ecosystem.Under rejuvenation of legacy industrial clusters, the budget proposed a scheme to revive 200 legacy industrial clusters, create dedicated ₹10,000 crore SME Growth Fund to create future champions and top up the Self-Reliant India Fund set up in 2021 with ₹2,000 crore to enable micro units access risk capital.Settlement platformThe TReDS (Trade receivables discounting scheme) would be a mandatory transaction settlement platform for all purchases from MSMEs by CPSEs. A credit guarantee support mechanism would be introduced through CGTMSE for invoice discounting on TReDS platform; GeM would be linked with TReDS and TReDS receivables would be introduced as asset-backed securities, helping develop a secondary market.read more :- Budget relief for textile sector of South Gujarat

Budget gives hope to textile sector of South Gujarat.Surat: India's largest hub for man-made fabrics (MMF), Surat, with a production capacity of 6 crore metres a day, is expected strengthen the city's position as the country's textile capital and drive economic growth across South Gujarat.The Budget also underlined the importance of the City Economic Region (CER) and Surat Economic Region (SER). The SER, covering Surat, Bharuch, Navsari, Tapi, Dang and Valsad districts, is one of the major CERs. The SER, a high-growth zone, accounts for nearly 25% of Gujarat's GDP despite occupying only 10.8% of the state's area, anchored by Surat.Under NITI Aayog's G-HUB initiative, the region is being developed into a globally competitive, diversified economic hub with a projected size of $1.3 to $1.5 trillion by 2047, focusing on high-value manufacturing, tourism and services."Surat is the largest textile cluster in India, but it does not have a centre of excellence. This Budget announced a centre of excellence at all major textile clusters. The FM announced cluster-specific technology upgradation support in her speech, and it will benefit our region," said Nikhil Madrasi, president, Southern Gujarat Chamber of Commerce and Industry (SGCCI)."The FM announced the establishment of a Textile University in an industrial area, and we hope it will come to the city. In addition, for micro and small enterprises, the limit under the CGTMSE scheme increased to Rs 10 crore per unit, which earlier was Rs 5 crore," said Ashok Jirawala, vice-president, SGCCI.read more :- Gram Swaraj and textile promoted in Budget 2026

Union Budget 2026: Gram Swaraj, fibre scheme anchor integrated textile pushThe Union Budget 2026-27 on Sunday placed the labour-intensive textile sector at the centre of India’s growth and employment strategy, announcing a sweeping set of initiatives aimed at strengthening the entire value chain — from natural fibres and traditional crafts to technical textiles and future-ready skills.Presenting the Budget, Finance Minister Nirmala Sitharaman announced a National Fibre Scheme to promote self-reliance across natural fibres, man-made fibres and new-age textile materials, signalling a move to build depth across the entire value chain rather than focusing on select segments.Budget 2026 Highlights: Here's the fine printTo address employment and competitiveness, the government will roll out textile-specific employment schemes with an emphasis on technology upgradation and targeted support for small and medium enterprises, Sitharaman said.At the heart of the push is the Mahatma Gandhi Gram Swaraj Initiative, which will strengthen khadi, handloom and handicrafts. The programme will support global market linkages and branding of Indian textile products, while streamlining training, skilling and quality standards to help artisans and weavers compete more effectively in domestic and international markets.To boost employment, the Budget proposed a Textile Expansion and Employment Scheme, under which traditional textile clusters will be modernised through capital support for machinery, technology upgradation, and the creation of common testing and certification facilities aimed at raising productivity and job creation.The Budget also proposes to integrate handloom and handicraft programmes under a national framework to provide targeted support to traditional artisans, improve market access and ensure better alignment with contemporary demand.Underscoring the push for sustainability, Sitharaman announced eco-initiatives aimed at encouraging environmentally responsible production practices across the textile ecosystem.As part of its skilling push, the government will launch Samarth 2.0, an upgraded version of the existing scheme, to modernise the textile skilling ecosystem and align training with evolving industry needs.The finance minister also said that mega textile parks will be taken up in challenge mode, with a sharper focus on attracting investments in technical textiles, a segment seen as critical for exports and industrial diversification.The integrated package reflects the government’s attempt to position textiles as a growth and employment engine while balancing modern manufacturing, sustainability and traditional strengths.read more :- Rupee opened 23 paise stronger at 91.76 per dollar

 Rupee opens 23 paise up at 91.76/USD Indian rupee is trading higher at 91.76 per dollar against previous close of 91.99.

State-wise CCI Cotton Sales Details – 2025-26 SeasonThe Cotton Corporation of India (CCI) kept its price unchanged during this week for the 2025-26 season. So far, approximately 3,59,300 cotton bales have been sold by CCI during the 2025-26 season. Sales are highly concentrated in a few major cotton-producing states, Maharashtra and Gujarat emerging as the leading contributors.

History will be made on 1st February! NSE, BSE, MCX and NCDEX will remain open on Sunday on Budget Day; Know the timingThe Union Budget 2026 will be presented on Sunday, February 1, when stock and commodity markets will be open. NSE, BSE, MCX and NCDEX will remain open at normal timings in special trading sessions. This will be the second time in independent India that markets will remain open on Sunday on Budget Day.The Union Budget 2026 will be presented this time on Sunday, February 1. Generally the markets are closed on Sundays, but due to the budget, the stock market as well as the commodity markets will remain open, so that investors and traders can immediately react to the decisions related to the budget. For this reason, it has been decided that the Multi Commodity Exchange of India (MCX) will remain open as a special trading session on 1 February. Trading on this day will be as per normal market timings and live trading can be done.Not only MCX, but the agricultural commodities exchange National Commodity and Derivatives Exchange (NCDEX) will also be open for trading on this day. That means traders trading in agri commodities will also be able to trade on Sunday. Both the exchanges had already given information about this through the circular issued on January 16, so that investors could make their trading strategy in advance. The special thing is that this has happened earlier also. When the Budget 2025 was presented on Saturday, MCX and NCDEX were still open. That is, keeping the commodity market open on the budget day is now becoming a normal practice.MCX trading timings on 1st February 2026Multi Commodity Exchange of India (MCX) will be open for trading as per normal timing on the day of Union Budget 2026. The pre-open session on MCX will run from 8:45 am to 8:59 am. After this, normal trading will take place from 9 am to 5 pm. Additionally, the client code modification session will be open from 9am to 5:15pm.Trading schedule on NCDEXNational Commodity & Derivatives Exchange (NCDEX), the exchange related to agricultural commodities, will also be open for trading as per normal timing on Sunday. The pre-open session on NCDEX will start at 9:45 am, while normal trading will run from 10 am to 5 pm. Here also the facility of client code modification will be available till 5:15 pm.Why is it special to open the market on Sunday?This will be the second time in the history of independent India that the stock markets will be open for trading on Sunday. Earlier this had happened on 28 February 1999, when the markets were opened during the government led by Atal Bihari Vajpayee.This time Finance Minister Nirmala Sitharaman is going to present the ninth consecutive Union Budget.Finance Minister Nirmala Sitharaman is going to present her ninth consecutive Union Budget this time. She will give the budget speech at 11 am. Double digit growth in government capital expenditure (capex) is expected in this budget.NSE and BSE will also remain openNot only commodities, but equity exchanges NSE and BSE will also remain open as per normal trading timings on February 1. Investors and traders will be able to react to budget-related decisions on the same day. Traditionally, the amount of discussion about Budget Day does not have a big impact on the stock market. According to the data of last 15 years, the average movement of Nifty on the budget day has been only 0.19%. However, in the week after the Budget, the market has given almost seven times more returns than on Budget Day.read more :- Demand of MP MSMEs on GST, textile and tech