Notably as of 2023, India is the 6th largest exporter of Textiles & Apparel in the world. The overall export of Textiles & Apparel including handicrafts marked a growth of 7 per cent during April-October period of FY 2024-25 ($ 21,358 Mn) compared to same period of FY 2023-24 ($ 20,007 Mn).
(Representational Image; Source: iStock)
India holds a share of 3.9 per cent of the global trade in textiles and apparel, and including handicrafts it comprises 8.21 per cent in total exports in 2023-24, government said on Thursday.
Notably as of 2023, India is the 6th largest exporter of Textiles & Apparel in the world. The overall export of Textiles & Apparel including handicrafts marked a growth of 7 per cent during April-October period of FY 2024-25 ($ 21,358 Mn) compared to same period of FY 2023-24 ($ 20,007 Mn).
Advertisement
As per the information shared by the Textiles Ministry, the Ready Made Garments category with export of $ 8,733 Mn has the largest share (41 per cent) in the total exports ($ 21,358 Mn) during the period of April-October of FY 2024-25, followed by Cotton Textiles (33 per cent, $ 7,082 Mn), Man- Made Textiles (15 per cent, $ 3,105 Mn).
Advertisement
Growth of exports is observed in all principal commodities during the period of April-October of FY 2024-25 compared to corresponding period of FY 2023-24, except wool and handloom which decline by 19 per cent and 6 per cent, respectively.
Import of textiles and apparel products by India during FY 2023-24 ($ 8,946 Mn) has decreased by approximately 15 per cent in comparison to FY 2022-23 ($10,481 Mn).
The overall import of Textiles & Apparel (incl. handicrafts) declined 1 per cent during April-October period of FY 2024-25 ($ 5,425 Mn) compared to same period of FY 2023-24 ($ 5,464 Mn).
Man-made Textiles category with import of $1859 Mn has the largest share (34 per cent) in the total imports ($ 5,425 Mn) during the period of April-October of FY 2024-25, as there is demand supply gap in this sector.
Growth of imports is observed majorly in Cotton Textiles mainly on account of import of long staple cotton fibre and such trends of import indicates towards an increase in production capacity of the country amidst rising consumption and self reliance.
Advertisement
