India's textile & apparel exports drop 15.26% to $8.4 bn in Apr-Jun

According to the data released by the ministry of commerce and industry, during the first quarter of the current fiscal, the export of cotton yarn, fabric, made-ups, and handloom products decreased by 12.83 per cent to $2,758.30 million, compared to the $3,164.19 million in the previous period. Exports of man-made yarn, fabric, and made-ups dropped 12.61 per cent to $1,160.73 million from $1,328.29 million. The total textile exports declined by 13.23 per cent to $4,745.88 million from $5,469.66 million during the same period last year. 

The apparel exports fell by 17.72 per cent to $3,694.71 million in April-June 2023 compared to $4,490.66 million during the same period the previous year. In June 2023 alone, apparel exports fell 16.87 per cent to $1,247.95 million from $1,501.12 million. 

Textile exports in June 2023 saw a decrease of 6.48 per cent to $1,623.8 million compared to the $1,736.31 million shipped in June 2022. From this, the exports of cotton yarn, fabric, made-ups, and handloom products fell by 1.21 per cent to $950.29 million from $961.89 million. The export of man-made yarn, fabric, and made-ups fell 17.22 per cent to $372.46 million from $449.95 million. The share of textiles and apparel in total goods exports from the country also slightly dropped from 8.23 per cent to 8.22 per cent in April-June 2023. However, this share rose to 8.71 per cent in June 2023 compared to the share of 7.66 per cent in June 2022, according to an analysis by the Confederation of Indian Textile Industry (CITI). 

Additionally, the import of raw cotton and waste also decreased by 27.72 per cent to $198.47 million in April-June 2023, down from $274.60 million during the same period of the previous year. In June 2023, it fell by 24.27 per cent to $95.10 million from $125.57 million. The inbound shipment of textile yarn, fabric, and made-ups also fell by 33.72 per cent to $168.94 million from $254.88 million. 

India's overall exports in June 2023 decreased by 13.16 per cent to $60.09 billion. Overall exports for April-June 2023 decreased to $182.70 billion from $197.08 billion during the same period of the previous year. The value of merchandise exports also fell from $120.98 billion to $102.68 billion during the same period. 

ALCHEMPro News Desk (KUL)