Cotton Import Duty Raises Cost Pressures on Textile Industry, Study Flags Competitiveness Concerns

New Delhi: A new industry study has highlighted that India’s current cotton import duty structure could be affecting the global competitiveness of the country’s textile and apparel sector.

The report points out that higher input costs for raw cotton are adding pressure on manufacturers, especially exporters who operate in highly competitive international markets where pricing plays a crucial role in demand.

While the policy is designed to support domestic cotton farmers and ensure stable returns for the agriculture sector, the study notes that it may also be increasing production costs for textile companies across the value chain.

Industry observers say the textile sector, one of India’s largest employment-generating industries, depends on cost-efficient raw material sourcing to maintain export growth and compete with global peers.

The study further observes that competing textile-producing countries often benefit from more flexible import mechanisms, allowing them to better manage raw material costs and respond quickly to shifting global demand.

Experts suggest that India faces a policy balancing challenge—protecting farmer incomes while also ensuring that manufacturing and exports remain globally competitive.

The report calls for a more calibrated and balanced approach to cotton trade policy, aimed at supporting both agricultural stability and industrial growth.

Overall, the findings underline the need for a policy framework that strengthens India’s textile ecosystem while sustaining its position in the global apparel and fabric export market.

MRF Reports 30% Surge in FY26 Consolidated Net Profit at Rs 2,426 Crore

Chennai, May 07: MRF Ltd. has announced a strong financial performance for the financial year ended March 31, 2026, reporting robust growth in both revenue and profitability. The company’s consolidated total income rose by approximately 11% year-on-year to Rs 31,654 crore, compared to Rs 28,570 crore in the previous financial year. Driven by improved operational performance and sustained market demand, consolidated profit before tax increased significantly to Rs 3,222 crore from Rs 2,483 crore in FY25. After accounting for tax expenses of Rs 796 crore, the company posted a consolidated net profit of Rs 2,426 crore for FY26, marking an impressive 30% growth over the previous year’s net profit of Rs 1,873 crore.

Operations

The Company delivered a healthy operating performance in FY 2025-26 and crossed the milestone of Rs 30,000 Crores in Sales during the year, with good growth in both Replacement and OE segments. 

The Company’s performance was aided by the launch of new SKUs in various categories like Truck, Passenger, Two-Wheelers etc. Besides being one of the largest OE suppliers of Tyres to ICE vehicles, the Company has become the most preferred supplier of Tyres to Electric Vehicles. MRF tyres are increasingly being fitted on vehicles exported by OEMs to many countries across the globe.

Demand buoyancy arising from reduction in GST rates continued into the 4thQuarter of the year, which is reflected in both Replacement & OE Sales. OEMs also witnessed a high Demand in the Quarter which led to an increased demand for tyres.

In order to cater to future demand for tyres across segments in the Replacement market, OEMs and Export, the Company is also expanding capacity across Plants.

The ongoing conflict in the Middle East and resulting disruptions have led to uncontrolled increase in raw material costs and supply chain issues. This has severely impacted the cost of input materials which is expected to continue. The Company has taken price increases and cost management measures to mitigate the impact of higher raw material costs and will take further hikes. Further, the forecast of a sub normal monsoon may adversely impact demand. In view of the unpredictable economic conditions and cost pressures on margins, it is difficult to anticipate the expected impact on growth and the Company is in the process of evaluating the same.

Dividend

The dividend for the financial year 2025-26 is Rs 235/- (2350%) per share of Rs.10 each which includes two interim dividends of Rs.3/- each (30%) per share already paid.

ITC Hotels Unveils “Moments Unscripted” Luxury Staycation Offer Across ITC Royal Bengal and ITC Sonar, Kolkata

Kolkata: ITC Hotels has announced a premium staycation offering titled “Moments Unscripted – A Luxurious Staycation Awaits”, designed to provide guests with an elevated and thoughtfully curated hospitality experience across its two iconic Kolkata properties — ITC Royal Bengal and ITC Sonar.

The curated package invites guests to rediscover relaxation and indulgence through immersive luxury experiences, whether for a romantic escape, a family getaway, or a rejuvenating personal retreat.

Two Distinct Luxury Experiences

The offer brings together two landmark destinations:

• ITC Royal Bengal – Known for its majestic contemporary architecture, expansive spaces, and immersive wellness offerings
• ITC Sonar – Celebrated for its resort-style serenity, lush green landscapes, and tranquil water bodies

Together, the two properties feature:

• 693 rooms
• 14 distinctive dining destinations
• Two world-class spas

Both hotels are rooted in responsible hospitality practices with a strong emphasis on locally sourced and sustainable operations.

Sustainability-Driven Luxury

Both properties are certified LEED Platinum and LEED Zero Water, reinforcing ITC Hotels’ commitment to environmentally responsible luxury. The staycation experience blends comfort with sustainability, offering guests a conscious yet indulgent escape.

Offer Highlights

Under the “Moments Unscripted” package, guests can enjoy:

• Up to 45% savings on stays with breakfast
• 20% savings on food, soft beverages, and spa services
• 2X Green Points for Club ITC members

The experience includes curated wellness offerings, poolside leisure, award-winning dining, and personalized hospitality touchpoints designed to create memorable stays.

Booking Details

The offer is valid for bookings made until 22 May 2026, encouraging guests to transform an ordinary weekend into a luxurious and memorable escape.

Markets Open Higher on Global Peace Hopes; Sectoral Trends Mixed

Mumbai, May 7 (BNP): Indian equity markets opened on a positive note on Thursday, supported by improved global sentiment after reports of progress on a possible US-Iran peace framework.

In early trade, the BSE Sensex rose nearly 380 points to touch an intraday high of 78,339, while the Nifty 50 gained over 90 points to trade above 24,400 levels.

However, gains remained uneven across sectors. FMCG, realty, consumer durables, and private banking stocks witnessed mild pressure, while auto and metal indices saw modest gains. Select heavyweight stocks such as Tata Consumer, Power Grid, HUL, TCS, HDFC Bank, Titan, NTPC, and Sun Pharma came under selling pressure.

Market sentiment improved after reports suggested that Iran is reviewing a US peace proposal aimed at easing regional tensions, although key issues such as nuclear restrictions and strategic maritime routes remain unresolved.

Analysts noted that global markets continue to react to shifting geopolitical signals, especially developments in West Asia, which have also kept crude oil prices volatile.

Brent crude remained elevated in global trade, reflecting ongoing uncertainty in supply outlook.

Experts added that equity markets are currently witnessing a balance between optimism over global developments and caution over stretched valuations in certain segments, particularly technology-linked and AI-driven stocks.

Foreign portfolio flows, they said, may remain sensitive to any correction in global growth themes and valuation resets in high-performing sectors.

On earnings, market participants are rewarding strong quarterly results while penalising misses, indicating a selective and stock-specific trading environment across large, mid, and small-cap segments.

Global cues were also supportive, with Asian markets trading higher and US indices closing in positive territory, adding to the overall upbeat sentiment in domestic trade.

India’s Real Estate Sector Set for Strong Growth as AI Adoption Rises

New Delhi, May 7 (BNP): India’s real estate sector is expected to witness significant expansion over the long term, with its market size projected to reach about USD 5.8 trillion by 2047, according to a joint industry report by FICCI and KPMG.

The report notes that the sector is being reshaped by rapid urbanisation, infrastructure expansion, rising housing demand, and growing investor interest across residential, commercial, and industrial segments. These factors are expected to support sustained growth over the coming decades.

A major highlight of the findings is the sharp rise in artificial intelligence adoption across the real estate ecosystem, with usage levels reaching nearly 91%. AI tools are increasingly being used for property valuation, market analysis, customer engagement, project planning, and construction monitoring.

Industry experts say this shift is improving efficiency, reducing delays, and making real estate transactions more transparent and data-driven. Developers are also using advanced analytics to better assess demand patterns and improve project execution.

The report further indicates that the integration of technology with traditional real estate operations is transforming the sector into a more organised and structured market, attracting greater institutional participation.

Overall, the study suggests that India’s real estate sector is entering a new phase of technology-led growth, where digital tools and long-term infrastructure development will play a central role in shaping its future.

Andhra Pradesh to Build Seaweed Economy to Strengthen Coastal Livelihoods and Women’s Empowerment

India Emerging as Key Voice in Shaping Global Economic and Strategic Landscape

Global Energy Alliance Appoints Tanya Singhal to Lead India Operations

New Delhi, May 7 (BNP): The Global Energy Alliance for People and Planet has appointed renewable energy entrepreneur Tanya Singhal as Vice President for India, strengthening its leadership as it expands clean energy and grid modernisation initiatives in the country.

Singhal, known for her work in the renewable energy sector, joins the organisation at a time when India is accelerating efforts to improve power reliability, expand clean energy access, and modernise electricity infrastructure.

In her new role, she will lead initiatives focused on battery storage, grid digitalisation, and distributed renewable energy systems aimed at supporting India’s transition toward a more resilient and sustainable energy ecosystem.

The organisation said her appointment comes as it completes three years of operations in India, where it has been working on projects related to clean energy access, energy storage, and strengthening power systems while also supporting economic opportunities and job creation.

Singhal is the co-founder of SolarArise, a utility-scale solar platform that developed large grid-connected solar assets across multiple Indian states. During her tenure, the company expanded its renewable portfolio with significant infrastructure investments and later achieved a landmark transaction through an Infrastructure Investment Trust listed on the London Stock Exchange.

An alumna of Indian Institute of Technology Delhi, Singhal also previously worked as a strategy consultant before moving into the renewable energy sector.

Industry observers say her appointment reflects the growing importance of experienced clean energy leaders in driving India’s next phase of energy transition and infrastructure modernisation.