India's textile & apparel exports decline 6.58% in Apr-Nov 2023

India’s textile and apparel exports have declined by 6.58 per cent to $21,828.60 million during April to November 2023. Apparel shipments decreased by 14.62 per cent to $8,846 million in the same period. The share of textile and apparel exports in India’s total merchandise exports of $278,796.1 million also reduced to 7.83 per cent during this period. 

According to trade data released by the ministry of commerce and industry, the value of textile and apparel shipments was $23,366.89 million during April to November 2022, accounting for 7.84 per cent of total merchandise exports. Apparel exports declined by 14.62 per cent in the period under review from $10,360.63 million in the corresponding period of the previous year. 

A detailed analysis by the Confederation of Indian Textile Industry (CITI) revealed that exports of cotton yarn, fabric, made-ups, and handloom products increased by 5.72 per cent to $7,731.52 million in the first eight months of the current fiscal 2023-24 (April-March) compared to $7,313.48 million in the same period of the last fiscal. However, shipments of man-made yarn, fabric, and made-ups dropped by 7.25 per cent to $3,053.16 million from $3,291.85 million. Shipments of carpets and handicrafts, excluding handmade carpets, also showed a declining trend. 

During November 2023, textile and apparel exports decreased by 5.91 per cent to $2,477.87 million from $2,633.60 million in the same period of the previous year. The share of textile and apparel in total merchandise exports, which was $33,895.8 million in November 2023, reduced to 7.31 per cent from 7.55 per cent. Apparel exports dropped by 14.92 per cent to $1,021.19 million from $1,200.28 million. Exports of cotton yarn, fabric, made-ups, and handloom products increased by 6.33 per cent to $854.88 million. However, shipments of man-made yarn, fabric, and made-ups decreased by 7.33 per cent to $328.88 million in November 2023. 

ALCHEMPro News Desk (KUL)