Indian Textile and Apparel Exports Surge Despite Challenges

Indian textile exports grew by 9.59% in May 2024 compared to the previous year, the Confederation of Indian Textile Industry (CITI) said in a report, despite unfavorable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations.

Simultaneously, Indian apparel exports grew 9.84% during the same period.

Cumulative Growth in Textile and Apparel Exports:

The CITI’s report highlighted that the cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70% over May last year.

According to data emitted by the Commerce Ministry on June 14, the country’s overall exports for May 2024 surged to $68.29 billion, a substantial 10.2% year-on-year increase.

Indian Textile Growth in Early 2024:

The analysis noted that during April-May 2024, Indian textile exports increased 6.04% over the previous year, while apparel exports increased 4.46% during the same time period.

The cumulative exports of textiles and apparel during April-May 2024 surged by 5.34% compared to the same period last year.

Strong Performance Across Sectors:

The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics & linoleum, cotton yarn/fabs made-ups (textiles manufactured), handloom products, etc., man-made yarn/fabs./made-ups, handloom products etc. performed well in the exports from the country.

Other merchandise products, such as meat, dairy, and poultry products; mica, coal, and other ores; minerals, including processed minerals; ready-made garments; tea, coffee, rice, tobacco, carpet, and handicrafts; oil seeds; and fruits and vegetables, also did well.

Positive Trajectory in Indian Textile Export Orders:

On Friday, Ashwani Kumar, President of the Federation of Indian Export Organisations (FIEO), highlighted that a positive trajectory was seen in May 2024, driven by robust order bookings.

Among India’s top ten export markets were the US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany, and France. In these markets, exports registered a double-digit growth rate.

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