India's textile & apparel exports shrink 10% in FY21

Textiles and made-ups exports fetched $19.784 billion during the 12-month period, showing a drop of only 1 per cent year-on-year. On the other hand, apparel exports fell by a sharp 21 per cent to $12.271 billion, according to an analysis by The Confederation of Indian Textile Industry (CITI) based on data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S).

Among textiles and made-ups, cotton segment earned $10.708 billion, up 9 per cent year-on-year, followed by manmade segment with $4.179 billion (down 22 per cent), jute $397 million (up 11 per cent), wool $109 million (down 40 per cent), and silk $100 million (up 8 per cent). Export of other textiles including carpets, handlooms, coir and other products were stable at $4.291 billion.

Among apparel, readymade garments (RMG) of cotton including accessories stood at $6.866 billion showing a decline of 21 per cent, followed by RMG of manmade fibre with $2.631 billion (down 25 per cent), RMG of other textile materials $2.574 billion (down 16 per cent), RMG of wool $108 million (down 30 per cent), and RMG of silk $92 million (down 23 per cent).

While cotton textiles and apparel constituted 54 per cent of total textiles and apparel exports from India during April-March 2020-21, the share of manmade textiles and apparel stood at 21 per cent, according to CITI analysis.

ALCHEMPro News Desk (RKS)