Cotlook Index: 18-09-2026
92.30 (-2.05)
CITI seeks India-US talks over 100% tariff law signed by Trump
Sunday, 20th Sep 2026, (Source: www.fibre2fashion.com)
Insights: India's CITI has warned that possible US tariffs under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 could affect textile and apparel exports. The body said MSME-led exporters may struggle to absorb extra duties in the US, their largest market. It urged closer India-US engagement, a balanced trade deal and cautioned that FTAs cannot quickly replace US demand.
India's textile and apparel exporters could face fresh pressure in their largest overseas market if the US imposes additional tariffs under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, according to the Confederation of Indian Textile Industry (CITI). CITI said in a press release that the US is the single-largest market for India's textile and apparel exports. CITI's chairman Ashwin Chandran said the sector is already under stress from several factors, including continuing turmoil in West Asia, and would find further tariffs difficult to absorb. The concern follows US President Donald Trump’s signing of the Act yesterday and centres on the potential impact of additional duties on India’s textile and apparel sector, which is dominated by micro, small and medium enterprises (MSMEs). CITI urged the government to engage more closely with the US so that Indian exporters are not placed at a disadvantage or made uncompetitive in that market. The industry body said a fair, balanced and equitable bilateral trade deal between India and the US is required, adding that a predictable trade framework could strengthen commercial engagement and support longer-term competitiveness for textile and apparel sectors in both countries. The textile body also said India's free trade agreements may help exporters enter new markets, but they cannot substitute the US market for textile and apparel shipments. Gains from those agreements, it said, offer potential but will take time to materialise. Stronger India-US trade ties could also support technology partnerships and supply-chain resilience in the sector, added the release.
India-New Zealand FTA ratified, wool to get tariff-free access
Monday, 21st Sep 2026, (Source: www.fibre2fashion.com)
Insights: New Zealand and India have ratified their free trade agreement, with the pact set to enter into force on October 20, 2026. Wool is among New Zealand exports to India that will be tariff-free from day one. Exporters will also benefit from a second tariff-cut round on January 1, 2027, alongside preferential quota access for several products.
New Zealand and India have formally ratified the India-New Zealand Free Trade Agreement (FTA), establishing new market-access terms for exporters and importers. For the textile sector, New Zealand wool is among the products set to receive tariff-free access to India from the agreement’s first day. The FTA will enter into force on October 20, 2026. New Zealand Trade and Investment Minister Todd McClay exchanged the formal ratification documents with India’s High Commissioner to New Zealand, Muanpuii Saiawi in Parliament, confirming that New Zealand had completed its domestic procedures. McClay said 57 per cent of New Zealand exports to India will be tariff-free from day one, including wool and coal, while more than 95 per cent of forestry and wood exports will also receive tariff-free access. He said exporters would benefit from a second round of tariff cuts from January 1, 2027. “The New Zealand-India FTA will level the playing field,” McClay said, adding that greater market diversification was increasingly important as global markets become more uncertain. The agreement will also provide preferential quota access to India for New Zealand albumins, apples and kiwifruit. For textile and wider goods exporters, the key implementation date is October 20, with wool among the products receiving immediate tariff-free access and further tariff reductions scheduled for January 1, 2027.
India, Bangladesh seek stronger trade, investment ties
Monday, 21st Sep 2026, (Source: www.fibre2fashion.com)
Insights: India's deputy high commissioner has urged Bangladesh and India to remove tariff and non-tariff barriers and deepen trade and investment ties. A proposed business-to-business task force would link private sectors, with FBCCI support sought to speed formation. Visa facilitation and closer entrepreneur engagement were also raised as firms look to ease cross-border trade.
India has called for stronger trade and investment ties with Bangladesh, including the removal of tariff and non-tariff barriers and closer business-to-business co-operation, as both sides look to expand commercial connectivity. Indian Deputy High Commissioner to Bangladesh Pawankumar Tulshidas Badhe proposed forming a business-to-business (B2B) task force during a meeting with Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Administrator Md Fazlul Hoque in Dhaka on September 20, according to local media reports. Badhe said the Indian mission was in regular discussions with the governments of both countries to expedite the task force’s formation and sought support from Bangladesh’s private sector, led by the FBCCI. Hoque said a joint task force could help increase bilateral trade and strengthen co-operation, while urging businesses and entrepreneurs from both countries to pursue investment and trade opportunities in emerging sectors. Badhe also said visa procedures for Bangladeshi travellers to India had recently been eased and that the Indian High Commission in Dhaka was issuing around 5,000 visas a day.
India's trade deals creating new markets for entrepreneurs, says Modi
Sunday, 20th Sep 2026, (Source: www.fibre2fashion.com)
Insights: Prime Minister Narendra Modi distributed more than 51,000 appointment letters to new recruits in Government of India organisations at the 20th Rozgar Mela. He linked youth employment to FTAs with about 40 countries, BRICS channels, start-ups and MSME cooperation.
For manufacturers and sourcing teams, the speech signals focus on skilling, apprenticeships, ITI upgrades and ease of doing
Indian Prime Minister Narendra Modi yesterday distributed more than 51,000 appointment letters to newly appointed youth in various government organisations through video conferencing at the 20th Rozgar Mela. Narendra Modi, Prime Minister of India said: "The world has high hopes from our innovators, our entrepreneurs, and our youth power." He also told the recruits: "I wish you all the very best for this new beginning in life." Referring to the recently concluded BRICS Summit, Modi said the administration’s strategy is to take international cooperation beyond traditional government-to-government engagement. Initiatives such as BRICS CONNECT and the BRICS MSME Cooperation Portal are intended to bring entrepreneurs, farmers, women and youth directly into global partnerships, the Prime Minister's Office (PMO) said in a press release. Modi said Free Trade Agreements with approximately 40 countries are opening new career possibilities, creating new markets and partnerships for domestic entrepreneurs, and widening opportunities for youth. He added: "These Free Trade Agreements are creating new doors of possibilities for our youth."
On future-ready skills, the PM cited the National Education Policy, Skill India Mission, Pradhan Mantri Kaushal Vikas Yojana and efforts to promote apprenticeships. He said the PM-SETU scheme is modernising 1,000 government ITIs with an investment of Rs 60,000 crore ($6.25 billion) and direct industry participation. Modi described India as the world’s third-largest start-up hub and said nearly half of recognised start-ups now come from tier-two and tier-three cities. He commended youth from villages, towns and smaller cities for working on ideas, building companies and generating employment for their peers. Modi also highlighted the Pradhan Mantri Viksit Bharat Rojgar Yojana as a Rs one lakh crore ($10.42 billion) initiative aimed at bringing two crore youths into the formal workforce for the first time. He said the scheme provides incentives of up to Rs 15,000 (~$156) for first-time employees and financial rewards for employers that create new jobs. Linking job creation with macroeconomic performance, Modi said new opportunities for youth emerge when the economy grows, investments rise and new industries expand. He cited a 7.8 per cent growth rate and a 12 per cent rise in investments during the first quarter, and said rating agencies are upgrading India’s economic outlook despite global uncertainties. The Prime Minister asked the new officials to support continuing administrative reform by simplifying tax compliance, improving ease of doing business, implementing changes in education and skilling, and opening new sectors to innovation. He said every file signature and administrative decision should help remove hurdles, allow ideas to flourish, and promote innovation-led investment and employment. Modi urged the recruits to use their authority with empathy and reduce the bureaucratic difficulties they had faced before entering service. He also asked them to keep upgrading their skills and learn new technologies through the Mission Karmayogi framework, noting that the Karmayogi Prarambh module has been designed for new entrants and that 1.7 crore employees are already on the iGOT platform.
CCI Cuts Cotton Selling Price by ₹1,600–₹2,000 per Candy This Week
Friday, 18th Sep 2026, Yash Chouhan, (Source: www.smartinfoindia.com)
CCI DECREASE ITS COTTON SELLING PRICE BY ₹1,600–₹2,000/CANDY THIS WEEK????
The Cotton Corporation of India (CCI) decrease its cotton selling prices by around ₹1,600–₹2,000 per candy during the week ending September 18, 2026, indicating continued buying activity from domestic textile mills and cotton traders. During the week, CCI sold approximately 2,000 bales of cotton from the 2025–26 crop through its auctions.
???? Day-Wise CCI Auction Performance
September 15, 2026 (Tuesday)
CCI sold 1,500 bales. Mills purchased 1,100 bales, while traders bought 400 bales.
September 16, 2026 (Wednesday)
A total of 400 bales were sold, including 100 bales purchased by mills and 300 bales by traders.
September 17, 2026 (Thursday)
CCI sold 100 bales, with all 100 bales purchased by mills.
???? September 18, 2026 (Friday)
No bales were sold in either auction session.
Following the latest auctions, CCI's cumulative cotton sales for the 2025–26 season** have reached approximately 94.29 lakh bales.
Sharad Pawar Makes 9 Demands to CM Fadnavis Amid Drought-Like Conditions in Maharashtra
Friday, 18th Sep 2026, Yash Chouhan, (Source: www.smartinfoindia.com)
Drought-like conditions in Maharashtra: Sharad Pawar makes 9 major demands to CM Fadnavis
A lack of rainfall in several parts of Maharashtra has compounded the woes of farmers. Kharif crops such as soybean, cotton, pearl millet (bajra), maize, tur (pigeon pea), moong (green gram), and urad (black gram) are reportedly suffering damage, alongside an increasing incidence of pest attacks and crop diseases. Amidst this situation, senior NCP leader and MP Sharad Pawar has written to Chief Minister Devendra Fadnavis, demanding the immediate implementation of relief measures for farmers, agricultural laborers, and rural areas. Pawar has demanded that a drought be declared in severely affected talukas without waiting for the completion of formal assessment procedures. He has sought financial assistance of at least ₹50,000 per hectare for farmers and special aid of ₹25,000 for agricultural laborer families dependent on farming. He called for the immediate implementation of a farm loan waiver scheme and the provision of fresh crop loans. He also demanded that the incentive subsidy provided to farmers who regularly repay their loans be increased from ₹50,000 to ₹1 lakh. Furthermore, he urged the inclusion of farmers who defaulted this year—after having taken crop loans for the 2025-26 cycle—in the loan waiver scheme. Pawar demanded the retrospective implementation of the 'one-rupee crop insurance scheme' and the immediate disbursement of the ₹17,000-per-hectare aid announced for losses caused by unseasonal rains last year. Additionally, he demanded the initiation of water conservation works under the Employment Guarantee Scheme in drought-affected talukas, the provision of water tankers for orchards, arrangements for drinking water and fodder, and the provision of essential services for livestock.Pawar also called for the regulation of load-shedding, the establishment of control rooms at state and district levels, and a complete waiver of school and college fees in drought-affected talukas.
India, Canada to Hold Next Trade Pact Talks from Oct 5
Monday, 21st Sep 2026, (Source: www.money.rediff.com)
India and Canada will hold the next round of CEPA trade talks from Oct 5, aiming to fast-track negotiations. Commerce Minister Goyal expects a defining period for relations.
· India and Canada will hold the fifth round of Comprehensive Economic Partnership Agreement (CEPA) talks from October 5.
· Both countries are fast-tracking negotiations, aiming to conclude the trade pact by the end of this year.
· Commerce Minister Piyush Goyal stated the next 90 days will be a defining period for India-Canada relations.
· The target for India-Canada two-way trade is USD 70 billion by 2030.
· Goyal also provided updates on ongoing trade pacts with the EU and Chile.
New Delhi, Sep 21 (PTI) The negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between India and Canada are progressing and the next round of talks will be held from October 5, Commerce and Industry Minister Piyush Goyal said on Monday. "...the next 90 days should be a very defining period in the Canada-India relationship," he told reporters here.
The fourth round of negotiations concluded here on September 18. The talks are moving at a faster pace as both the countries are targeting to conclude the negotiations by end of this year.
"Both sides have resolved to fast track negotiations, in view of which our team is now slated to go for the fifth round on October 5," Goyal said. Canada's International Trade Minister Maninder Sidhu was in Mumbai last week to hold talks with Goyal. India's major exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals. Key imports from Canada include pulses, pearls and semi-precious stones, coal, fertilisers, paper and crude petroleum. India's services exports to Canada are led by telecommunications, computer and information services, and other business services. Two-way trade reached USD 30.4 billion in 2025 and the target is double that to USD 70 billion by 2030. On India, EU trade pact, Goyal said it is expected to come into force in the coming months. Goyal said the pact is expected to be ratified by the EU parliament in the next three months or so and is likely to come in to effect within the next six-seven months. On the India-Chile trade agreement, the minister said Commerce Secretary Rajesh Agarwal recently visited Chile to review the progress of talks.
"I believe in the coming few months, we will hear some good news." he added.
