Cotlook Index: 09-09-2026
96.10 (+0.10 )
The rupee opened 15 paise lower at 95.25 against the dollar.
Thursday 10th Sep 2026, Yash Chouhan, (Source: www.smartinfoindia.com)
The rupee had closed at 95.10 on Wednesday, whereas today it opened at the weaker level of 95.25 per dollar. The Sensex closed 60.18 points or 0.08 percent higher at 74,824.41, and the Nifty closed 18.15 points or 0.08 percent higher at 23,449.65.
Gir Somnath Rain Delay Worries Farmers
Thursday 10th Sep 2026, Yash Chouhan, (Source: www.smartinfoindia.com)
Delayed rainfall raises concerns for farmers in Gir Somnath; groundnut, soybean, and cotton crops at critical stage Farmers in Gujarat's Gir Somnath district are concerned due to the delayed monsoon. Sowing has been completed across 147,323 hectares in the district this Kharif season, a figure roughly equal to last year's. Currently, groundnut, soybean, and cotton crops are at critical stages of development, making rainfall in the coming days crucial for the harvest. Sowing has covered 91,479 hectares for groundnut, 26,787 hectares for soybean, and 12,491 hectares for cotton. Fodder crops have also been sown across approximately 11,103 hectares. At present, groundnut is in the pod-filling stage, soybean is in the grain formation and filling stage, and cotton is in the flowering and bud formation stage. According to Jaideep Chauhan, Assistant Director of the Agriculture Department, most areas in the district have irrigation facilities, and farmers are currently watering their crops using groundwater. Consequently, despite the delayed rain, the condition of the crops has not yet deteriorated. However, a prolonged dry spell could increase pressure on groundwater and irrigation sources. The department indicates that if good rainfall occurs within the next 8 to 10 days, the likelihood of significant crop loss is low. Farmers have been advised to use water judiciously and adopt drip and sprinkler irrigation methods. Emphasis has also been placed on weed control and mulching to retain soil moisture. Priority has been advised for irrigation during the flowering and grain-filling stages. In the event of moisture stress, the Agriculture Department recommends spraying a 1–2% solution of urea or potassium nitrate (13:0:45) and ensuring timely harvesting once the crop matures. For now, farmers are awaiting good rainfall.
ICE cotton futures rise ahead of WASDE amid supply concerns
Thursday 10th Sep 2026, (Source: www.fibre2fashion.com)
Insights: ICE cotton futures ended a five-session slide, with December 2026 settling at 87.28 cents, up 0.98 cent. US crop condition worsened as good/excellent ratings fell to 34 per cent, keeping supply concerns in focus before Friday's WASDE. China's State Reserve sold 8,007 tonnes in its 38th sold-out auction, while domestic ZCE cotton stayed weak.
ICE cotton futures finally halted its five-session losing streak. Most contracts, except far-deferred contracts, posted gains as rising crude oil prices and a weakening US dollar provided much-needed support to the market. Traders also appeared to position themselves ahead of the upcoming USDA WASDE report after the latest US crop-condition data showed further deterioration. The most active December 2026 contract settled at 87.28 cents, up 0.98 cent. The rest of the actively traded contracts posted gains of 5 to 109 points. The December 2026 gain is significant after the recent liquidation. The contract had fallen 682 points over five consecutive sessions, from its contract-high close of 93.14 cents to 86.32 cents on September 8. Wednesday’s rebound therefore recouped about 96 of those 682 points and moved the settlement back above the previous four sessions’ closing levels.Trading volume was 46,659 contracts, down from Tuesday’s 56,988 and the lowest in the past nine sessions. The relatively modest volume behind the rebound suggests that Wednesday’s rally was not accompanied by exceptionally strong fresh participation. Open interest was the major story. OI began the session at 380,405 contracts, up 1,820. The latest USDA Crop Progress report also remains supportive from the supply side. Overall US cotton crop condition continued to deteriorate, with the share rated good/excellent falling from 39 per cent to 34 per cent. This deterioration is keeping crop-loss concerns alive even though crop development is progressing. The market is now increasingly focused on Friday’s USDA WASDE report. Traders are positioning ahead of the report because it could change expectations for US cotton production, exports, domestic use and ending stocks. A lower production or tighter-stock estimate could strengthen the recent crop-concern story, while a neutral or bearish balance sheet could again bring selling pressure.China remained active through its State Reserve auction programme. Wednesday marked the 38th consecutive sold-out auction. Another 8,007 tonnes were sold. Cumulative State Reserve sales have now reached 304,743 tonnes over 38 days. US cotton reportedly accounts for approximately 52 per cent of the total, with the remainder comprising Brazilian and Xinjiang cotton.
An important detail is that no Xinjiang cotton has been offered in the last six auctions. This means the recent reserve auction mix has increasingly been drawing on imported cotton, particularly US cotton, which remains relevant to the global supply-demand balance.
Chinese domestic cotton futures remain weak. ZCE cotton posted its 5th decline in the last six sessions and is now approximately 2.5 per cent lower on a net basis over that period. This weakness contrasts with Wednesday’s recovery in ICE and indicates that Chinese domestic demand and price sentiment are not yet providing clear confirmation of the ICE rebound.
Crude oil remained an important outside-market factor. Higher energy prices are supporting the broader commodity complex but are also raising concerns about inflation and higher costs for cotton production, transportation and textile processing. The dollar’s recent weakness has also provided some support because a softer US dollar makes dollar-denominated cotton cheaper for overseas buyers. However, currency support alone has not been enough to establish a sustained demand-driven rally. The South Texas cotton harvest is now underway, and producers are reportedly seeing a strong crop in the region. This is an important counterpoint to the broader US crop-condition concerns, because not every production area is experiencing the same degree of weather-related damage. The South Texas situation also highlights the uncertainty facing the USDA production estimate. While some areas, particularly parts of Texas, have experienced significant heat and moisture stress, other areas are reporting better-than-feared crops. Friday’s WASDE will be watched to see how USDA incorporates these regional differences into the national production estimate. This morning (Indian Standard Time), the December 2026 ICE cotton contract was trading at 86.72 cents per pound (down 0.56 cent), cash cotton at 79.98 cents (up 1.09 cent), the October 2026 at 83.73 cents (up 1.09 cent), the March 2027 contract at 89.07 cents (down 0.58 cent), the May 2027 contract at 90.48 cents (down 0.55 cent), and the July 2027 contract at 90.06 cents (down 0.42 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Indian minister Goyal urges BRICS push for women-led exporters
Thursday 10th Sep 2026, (Source: www.fibre2fashion.com)
Insights: Indian minister Piyush Goyal has urged BRICS to expand opportunities for women-led enterprises in global trade through easier credit, buyer access and predictable rules. For textile and apparel exporters, proposed BRICS platforms, e-documents and sectoral women-led delegations could widen market links. Goyal also pushed action on invoice discounting, exhibitions and a Women's Advancement Fund up to 2030.
India has called on BRICS countries to work jointly to widen international trade opportunities for women entrepreneurs and women-led enterprises, with Union Minister of Commerce and Industry Piyush Goyal identifying access to credit, access to buyers and markets, and predictable trade rules as the three key barriers for entrepreneurs entering cross-border business.
Addressing the BRICS Women’s Business Alliance Women-Led Development Conference in New Delhi as chief guest, Goyal said India wanted to share its experience in addressing challenges faced by entrepreneurs, particularly women entrepreneurs, with the BRICS Women’s Business Alliance and the wider BRICS business engagement. Goyal told the conference that India has focused on empowering women financially, socially and through education, skills and improved quality of life, with the objective of making women drivers of the country’s growth, the Ministry of Commerce and Industry said in a press release. On financial inclusion, Goyal said that around 12 years ago most women, especially in rural India, did not have bank accounts, assets in their own names or credit histories, and were often not eligible for loans. Since then, India has put houses in women’s names, opened nearly 300 million bank accounts for them and provided collateral-free loans to women seeking to start their own work, including those without a credit history, he said.
Goyal said around 100 million rural women are now members of nine million self-help groups, small cooperatives or women’s groups working on different ideas and enterprises. The number of women earning more than ₹1 lakh ($1,051) in personal income has crossed 30 million, he said, adding that these women are referred to as Lakhpati Didis and that India hopes to keep increasing both their number and their income. India has provided around 560 million loans to small entrepreneurs, with more than 68 per cent going to women entrepreneurs, Goyal said. The objective, he added, is to ensure women become economically independent and are not dependent on other family members. Goyal said India’s female workforce participation had been around 19 per cent until about a decade ago and expressed confidence that, as income levels rise, education improves, skills develop and talent comes forward, the figure will increase to 50 per cent or more. He said women’s share in the formal workforce has crossed 50 per cent in developed societies, and that India can achieve a significant increase in economic growth as more women enter the formal workforce. Describing women-led development as distinct from women development, Goyal said the government’s effort is to ensure equal opportunity and access to the tools required for a person to start a business or become an earning member of the family. He also said women should not be viewed only as beneficiaries across programmes focused on women’s development and women-led development, but as architects of New India.
For exporters, Goyal referred to the meeting of BRICS Commerce and Industry Ministers in Jaipur, where ministers agreed on voluntary principles for assessing small exporters. He said assessment should not be based only on invoices and payments, but also on an entrepreneur’s ability and the shift from the past to the present and future.
Goyal said foreign trade should not be seen only as a collateralised business, but as a way to integrate societies and businesses and create opportunities for marginalised sections that may otherwise never expect to trade overseas. BRICS countries also agreed in the Jaipur Consensus to explore a common BRICS platform for international trade, which he said could help address access to markets and buyers.
Once such a platform is developed, a product requirement in one BRICS member country could be visible to other members, while invoices raised between participants could be publicised across the platform, Goyal said. He added that financial intermediaries could join the platform to support women entrepreneurs and small entrepreneurs as intra-BRICS trade expands.
Referring to the BRICS work plan on member countries’ shared understanding on global value chains, Goyal urged governments to encourage women-owned enterprises to participate more actively in international expositions, conferences, seminars, exhibitions and business forums.
He also urged BRICS countries to consider more women-led business delegations on a sectoral basis. As an example relevant to textile value chains, he suggested a fully women-led textile delegation travelling from one BRICS member country to another, saying such delegations could gain traction, help integrate value chains and create opportunities for women entrepreneurs to engage with markets beyond BRICS.
On predictable rules for doing business, Goyal said business cannot be conducted without sufficient certainty, open borders and an environment that encourages free trade. He said all BRICS members have committed to protecting and strengthening the multilateral trading system within World Trade Organization (WTO) rules, providing policy space for less developed and developing nations.
Goyal said BRICS members should work towards a common platform enabling electronic trade documents, e-invoices, electronic bills of lading and e-customs declarations. He also referred to voluntary principles agreed to facilitate the delivery of services online across borders while respecting and protecting each country’s laws.
Calling for greater engagement among BRICS countries, Goyal said dialogue and diplomacy are the way forward for member countries, partner countries and the world. He said global trade is showing signs of strain amid volatility and uncertainty, with two wars currently underway, making collective efforts to increase business among BRICS countries important while continuing engagement with the rest of the world.
Goyal said BRICS countries have worked towards global peace and common understanding to support international trade in goods and services. He said services trade among BRICS members has not received sufficient attention, and that with global services trade at almost $10 trillion, the relatively low level of services trade among BRICS countries shows significant growth potential.
Women can play an important role in mobility, different types of services and the rapidly growing digital economy, Goyal said, adding that BRICS countries have strong potential to work together to improve service delivery and enable women entrepreneurs and micro, small and medium enterprises to participate in services and the digital economy.
Goyal said BRICS Trade Ministers had recommended the Strategy for BRICS Economic Partnership 2030 for endorsement by leaders. He expressed hope that the BRICS Leaders’ Summit would result in more concrete agendas, action plans and outcomes, with 2030 serving as the first step towards a longer-term partnership.
Among four suggestions put forward for consideration up to 2030, Goyal called on the BRICS Women’s Business Alliance, together with the BRICS Business Council headed by Anant Goenka and colleagues, to ensure that a study on an invoice discounting platform reflects the actual needs of women exporters. He also urged governments, banks and Exim Banks to consider such invoices in lending decisions and called for the Women’s Advancement Fund emphasised in the Jaipur Consensus to become a concrete initiative.
On access to buyers, Goyal called for women-owned enterprises from BRICS member and partner countries to participate in more BRICS exhibitions, fairs and forums, along with buyer-seller meets. He also suggested annual reporting on progress, including which businesses have worked.
India's textile AI readiness uneven despite rising adoption: CITI
Thursday 10th Sep 2026, (Source: www.fibre2fashion.com)
Insights: India's textile and apparel enterprises are exploring AI, automation and digitalisation, but CITI's study said readiness remains uneven. About 35 per cent of firms have not started AI adoption, 38 per cent lack digital systems and 14 per cent are fully integrated. Export-linked MSMEs may need capital support, shared platforms and skills to close gaps with China.
India’s textile and apparel industry has begun adopting artificial intelligence (AI), automation and digitalisation, but its overall readiness remains uneven, with major gaps in digital systems, skills and investment capacity across the value chain, a new Confederation of Indian Textile Industry (CITI) study has found. The findings are particularly relevant for export-oriented textile and apparel manufacturers, as approximately 70 per cent of the respondents cater to export markets. Export dependence among participating firms ranged from no exports to more than 75 per cent of business from exports. The study, AI, Automation & Digitalisation Readiness in the Indian Textile & Apparel Industry, was conducted by CITI, supported by the Northern India Textile Research Association (NITRA). It was released by Uttar Pradesh Chief Minister Yogi Adityanath at UP TEX 2026 in Lucknow on September 8, CITI said in a press release. The study covered the wider textile value chain, from spinning to garmenting, including home textiles, technical textiles and allied services. Respondents represented enterprises across turnover categories, with strong participation from small and mid-sized businesses. Ashwin Chandran, chairman, CITI, said: "AI, automation and digitalisation are no longer technologies relevant only to large or highly sophisticated enterprises; they are becoming important enablers of productivity, quality, resilience and competitiveness across the textile value chain. The findings show that the industry has begun this journey, but there is a significant scope to strengthen the digital foundations, skills and capabilities needed to realise the full benefits of these technologies."
The survey found that 35 per cent of firms have not yet started adopting AI. It also found that 38 per cent operate without a digital system, while around 14 per cent report fully integrated digital systems. Automation adoption remains concentrated in routine applications such as machine monitoring and setting, while functions such as production scheduling have seen lower adoption, the study said. High investment costs and shortages of skilled talent were identified as the leading barriers to broader technology adoption. The study also found that technology is having a mixed impact on employment, while training remains largely informal and enterprise-led. Globally, India is positioned in the “early-to-emerging” stage of AI and digital adoption in textiles and apparel and continues to trail China, underlining the need to accelerate technology adoption and strengthen digital capabilities to improve competitiveness.
CITI’s study highlighted the need for practical, financial and institutional support, especially for micro, small and medium enterprises. Demonstration factories, capital subsidies and common digital platforms were identified as the most important support areas, followed by industry-specific AI tools, Centres of Excellence, training programmes, pilot projects and financing mechanisms.
The study said such interventions could reduce investment risks, allow enterprises to test technologies before adoption and improve access to digital capabilities. It concluded that coordinated action by the government, industry, technology providers, research institutions and training organisations will be essential to help enterprises move from individual technology applications towards connected and increasingly intelligent operations, strengthening India’s position as a globally competitive textile and apparel manufacturing hub.
Jefferies Sees Long Textile Growth Cycle
Thursday 10th Sep 2026, Yash Chouhan, (Source: www.smartinfoindia.com)
Jefferies Expects Long Growth Cycle for India's Textile Sector
India's textile sector could be entering a growth cycle that lasts for several years. Strategies by global brands to diversify supply chains and shift sourcing away from China are creating significant opportunities for India to boost exports and gain market share. However, according to a Jefferies report, the transition towards man-made fiber (MMF) remains a key structural challenge for the sector. The report notes that the global textile and apparel market is valued at over $900 billion, with apparel accounting for approximately 60% of the total. India stands to benefit from its integrated fiber-to-fashion ecosystem, an export base of around $37 billion, raw material availability, a skilled workforce, and supportive government policies. According to Jefferies, improved competitiveness and the restructuring of global supply chains present a multi-year opportunity for India to expand exports and capture market share. However, India's export mix remains heavily reliant on cotton-based products, whereas global demand is rapidly shifting towards MMF apparel, sportswear, and athleisure. Home textiles are also viewed as an attractive growth segment, accounting for roughly 7–10% of global textile and apparel trade. India holds a significant market share—ranging from 45% to 60%—in key home textile categories like bed linen and towels in the US, while its share in the UK and the European Union stands at approximately 5–25%, indicating ample room for further expansion in these markets. Free Trade Agreements (FTAs) could also accelerate export growth. The India-UK FTA, set to take effect in July 2026, and the potential India-EU FTA (expected from 2027) could improve India's tariff access to the approximately $220 billion textile and apparel import market. However, limited FTA coverage, relatively high logistics and compliance costs, low manufacturing capacity, and a weak presence in the MMF segment remain key challenges for India.
India–Malaysia Bilateral Meeting
Thursday 10th Sep 2026, (Source: www.pib.gov.in)
India Strengthens Agricultural Cooperation with Malaysia, Timor-Leste and Myanmar
Shri Shivraj Singh Chouhan Holds Bilateral Talks with Malaysia, Timor-Leste and Myanmar to Deepen Agricultural Partnerships India Explores New Avenues for Agricultural Research, Innovation, Trade and Food Security with ASEAN Partners A meeting between Shri Shivraj Singh Chouhan, Union Minister of Agriculture and Farmers Welfare, Government of India and H.E. Mr. Mohamed Bin Sabu, Minister of Agriculture and Food Security, Malaysia was held on 9 September 2026 at New Delhi on the side lines of the 9th ASEAN–India Ministerial Meeting on Agriculture and Forestry (9th AIMMAF) organized by Department of Agricultural Research (DARE)/Indian Council of Agriculture Research (ICAR) at New Delhi during 8–9 September 2026. The Minister’s noted the importance of sharing knowledge, expertise and best practices, and expressed interest in strengthening collaboration in joint agricultural research, technology and innovation through the mechanism of Memorandum of Understanding (MoU) to provide an institutional framework for cooperation in areas of mutual interest in agriculture and allied sectors. Both the Ministers noted that bilateral issues relating to germplasm exchange, trade, and market access could be addressed through mutual cooperation to strengthen the close and strong partnership between India and Malaysia in Agriculture and related issues. The Indian delegation included Dr M. L. Jat, Secretary, DARE & DG, ICAR; Shri Gyanendra Dev Tripathi, Additional Secretary, DARE & Secretary, ICAR; Shri A. K. Sahu, Joint Secretary (IC), DoAFW; ICAR DDGs; and the International Relations Team led by Dr. Naveen P. Singh, ADG (IR), ICAR.
India–Timor-Leste Bilateral Meeting
A meeting between Shri Shivraj Singh Chouhan, Union Minister of Agriculture and Farmers Welfare, Government of India and H.E. Mr. Marcos Da Cruz Minister, Ministry of Agriculture Livestock, Fisheries and Forestry, Timor Leste was held on 9 September 2026 at New Delhi on the side lines of the 9th ASEAN–India Ministerial Meeting on Agriculture and Forestry (9th AIMMAF) organized by Department of Agricultural Research (DARE)/Indian Council of Agriculture Research (ICAR) at New Delhi during 8–9 September 2026.
The Minister from Timor Leste expressed interest on building strong institutional mechanism between both sides to address various challenges in Agriculture and ensuring food security for the nation. Shri Shivraj Singh Chouhan, Union Minister of Agriculture and Farmers Welfare, Government of India reiterated the commitment of Government of India to share its best practices to support Timor Leste in advancing their agriculture research and innovation capabilities through exchange of scientists and experts, and human resource development.
The Minister from Timor Leste also expressed interest that India may consider deputing a team of technical and scientific experts to Timor-Leste to assess ground-level challenges and provide technical recommendations in the areas of agriculture, forestry, livestock and aquaculture.
The Indian delegation included Dr M. L. Jat, Secretary, DARE & DG, ICAR; Shri Gyanendra Dev Tripathi, Additional Secretary, DARE & Secretary, ICAR; Shri A. K. Sahu, Joint Secretary (IC), DoAFW; ICAR DDGs; and the International Relations Team led by Dr. Naveen P. Singh, ADG (IR), ICAR.
India–Myanmar Bilateral Meeting
A meeting between Shri Shivraj Singh Chouhan, Union Minister of Agriculture and Farmers Welfare, Government of India and H.E. Mr. Min Naung, Union Minister, Ministry of Agriculture, Livestock and Irrigation, Myanmar was held on 9 September 2026 at New Delhi on the side lines of the 9th ASEAN–India Ministerial Meeting on Agriculture and Forestry (9th AIMMAF) organized by Department of Agricultural Research (DARE)/Indian Council of Agriculture Research (ICAR) at New Delhi during 8–9 September 2026.
Shri Shivraj Singh Chouhan, Union Minister of Agriculture and Farmers Welfare Minister, Government of India welcomed the Minister from Myanmar and shared that both sides shared strong cultural and people-to-people connect for a long time and Myanmar is a close partner for India as it share approx. 1600 KM of border with India. The Minister’s noted the that Memorandum of Understanding (MoU) between the two countries is at an advanced stage of finalisation for strengthening the cooperation in agriculture and allied sectors.
Both sides also discussed the trade potential between two nations and noted that strong partnership between both sides in mutually identified areas will help each other in enhancing the trade in agriculture related goods such as pulses, cotton, dairy development and agriculture education. Myanmar side also suggested favourable investment opportunities in the country to focus on strengthening economic and agricultural ties between the two countries.
The Indian delegation included Dr M. L. Jat, Secretary, DARE & DG, ICAR; Shri Gyanendra Dev Tripathi, Additional Secretary, DARE & Secretary, ICAR; Shri A. K. Sahu, Joint Secretary (IC), DoAFW; ICAR DDGs; and the International Relations Team led by Dr. Naveen P. Singh, ADG (IR), ICAR.
