India's textile, apparel exports down 5.87% to $27.7 bn in Apr-Jan '24

An analysis of the latest trade data revealed that the share of textiles and apparel was 7.91 per cent in the corresponding period of the last year.

The ministry of commerce and trade's latest trade figures showed that T&A exports were $29.436 billion in April 2022-January 2023. Textile exports increased marginally by 0.15 per cent to $16.124 billion in April 2023-January 2024, up from $16.101 billion in the same period of the last fiscal. Cotton yarn, fabrics, made-ups, and handloom products saw a 5.69 per cent increase to $9.561 billion in the first ten months of the current fiscal. However, the shipment of man-made yarn, fabrics, and made-ups declined by 6.56 per cent to $3.808 billion, and carpet exports decreased by 0.29 per cent to $1.152 billion in the period.

India's apparel export fell by 13.14 per cent to $11.583 billion in April 2023-January 2024, down from $13.335 billion in the same period of the previous year.

In January 2024, T&A exports decreased by 2.29 per cent to $2.987 billion from $3.056 billion in the corresponding period of 2023. Textile exports eased 1.18 per cent to $1.546 billion from $1.564 billion in January 2023. Cotton yarn, fabrics, and made-ups exports grew by 2.50 per cent to $891.93 million in January 2024. However, exports of man-made yarn, fabric, and made-ups fell by 4.33 per cent to $379.71 million in the period. Apparel exports from the country declined by 3.46 per cent to $1.441 billion in January 2024 from $1.492 billion in January 2023.

According to the latest figures, imports of cotton raw & waste declined by 61.57 per cent to $518.38 million in April 2023-January 2024, down from $1,349 million in the same period of 2023. Imports of textile yarn, fabric, and made-ups dropped by 14.85 per cent to $1,931.68 million in the first ten months of the current fiscal from $2,268.44 million. During January 2024, imports of cotton raw & waste dropped 32.32 per cent to $19.62 million, while textile yarn, fabric, and made-ups imports decreased by 11.24 per cent to $184.66 million.

ALCHEMPro News Desk (KUL)