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Textile industry urges Tamil Nadu Government for new policy to sustain operations 1) Textile associations in Coimbatore and Tiruppur have called on the Tamil Nadu Government to introduce a new textile policy aimed at supporting the region's struggling mills. 2) During a visit to the districts, V. Amuthavalli, Secretary of the Handlooms, Textiles, and Khadi Department, met with industry stakeholders to discuss their concerns.

High moisture content leaves cotton growers worried in some Indian States 1) Cotton farmers in Telangana are a worried lot as market prices for the commodity fell below the minimum support price (MSP) in several yards. 2) However, Cotton Corporation of India (CCI), which takes care of MSP operations for the fibre crop, said moisture content has been very high in States such as Telangana, Andhra Pradesh and Maharashtra.

Cotton procurement starts in Telangana as MSP rates hold 1) The Cotton Corporation of India (CCI) has begun buying cotton at the minimum support price (MSP) in Telangana, with plans to extend procurement across all major cotton-producing states post-Diwali. 2) Current cotton prices are slightly above MSP due to firm cottonseed prices influenced by import duties on edible oils. The government set an MSP of Rs 7,121 per quintal for medium staple cotton and Rs 7,521 for long staple, a 7% increase from last year.

Indian apparel retailer Arvind's Q2 pre-tax profit jumps on strong demand; shares rise 1) Indian clothing retailer Arvind posted a 19% rise in second-quarter pre-tax profit on Monday, aided by strong textiles demand as customers splurged on clothes ahead of the festive season, sending its shares 5% higher. 2) The company, which sells international brands such as Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated profit before tax rose to 1.35 billion rupees ($16.1 million), from 1.14 billion rupees a year earlier.

GST dept uncovers 3.28cr evasion 1) In a significant crackdown, the state GST department recently uncovered a Rs 3.28 crore fraud from unbilled sales in the B2C sector. 2) The department conducted targeted inspections in Surat, Bhavnagar, Kalol and other locations prompted by specific intelligence indicating large-scale unreported transactions in the lead-up to the Diwali season. 3) The investigation targeted businesses dealing in high-demand goods like fireworks, ice cream and textiles. All the traders involved were found to be holding substantial quantities of unaccounted stock and were conducting numerous unbilled transactions.

Other headlines: Uzbekistan plans to boost textile exports to India Cotton pressured lower on Monday Indian rupee closes flat after brief dip to all-time low Oil prices plunge 6% on targeted Israeli strike, weak China data clouds demand Pakistan: Leading mills sideline on lack of fresh leads To read complete news articles and check yarn rates of spinning mills, download the YarnLIVE Mobile App for free on your Android mobile or iPhone. If you have any questions, call YarnLIVE on 9036722351.

Cotton Corporation of India announces Rs 7,521 MSP for cotton 1) Cotton purchase in the market yard began on October 26, with the Cotton Corporation of India (CCI) announcing a support price of Rs 7,521 per quintal for cotton with a moisture content of 8 to 12%. 2) On the first day, private traders purchased cotton with no moisture at Rs 6,700 per quintal.

Cotton dropped as yarn markets face weak demand and payment constraints 1) Cotton prices dipped by 0.56% to close at 56,360, pressured by subdued demand in the yarn market and payment constraints affecting transactions. 2) USDA revised India’s cotton production forecast for the 2024-25 season down to 30.72 million bales, and ending stocks were reduced to 12.38 million bales due to damage from excessive rains and pest issues.

Two labourers killed, 4 critical after gas leak in Gujarat factory 1) Two labourers died, and four others were critically injured in a gas leak accident at a textile dyeing and printing unit in Narol of Gujarat's Ahmedabad on Sunday. 2) 'When the workers were transferring sulfuric acid from a tanker into another container, it came into contact with caustic soda stored there. This led to a reaction that released deadly fumes,' said divisional fire officer Om Jadeja.

Turkiye's measures on polyester impact exports; India seeks compensation 1) India has sought compensation from Turkiye as Ankara's decision to extend safeguard measures on polyester staple fibres has impacted the product's exports, an official said. 2) India flagged concerns and impact from these measures during a recent bilateral consultations with Turkiye under the WTO's safeguard agreement.