India's textile & apparel exports up 0.89% to $2.7 bn in April

The Ministry of Commerce and Trade's latest trade figures showed that T&A exports were $2.752 billion in April 2023. Textile exports increased marginally by 2.40 per cent to $1.578 billion in April 2024, up from $1.541 billion in the same period of the last fiscal. Cotton yarn, fabrics, made-ups, and handloom products saw a 6.65 per cent increase to $946.85 million in the first month of the current fiscal. However, the shipment of man-made yarn, fabrics, and made-ups declined by 6.26 per cent to $368.35 million, and carpet exports increased by 5.64 per cent to $111.1 million in the period.

The Ministry of Commerce and Trade's latest figures showed that T&A exports were $2.752 billion in April 2023. Textile exports increased marginally by 2.40 per cent to $1.578 billion in April 2024, up from $1.541 billion in the same period of the last fiscal. Cotton yarn, fabrics, made-ups, and handloom products saw a 6.65 per cent increase to $946.85 million in the first month of the current fiscal. However, the shipment of man-made yarn, fabrics, and made-ups declined by 6.26 per cent to $368.35 million, and carpet exports increased by 5.64 per cent to $111.1 million in the same period.

India's apparel exports fell by 1.03 per cent to $1.198 billion in April 2024, down from $1.210 billion in the same period of the previous year.

According to the latest figures, imports of raw cotton and waste declined by 16.31 per cent to $37.91 million in April 2024, down from $45.3 million in the same period of 2023. Imports of textile yarn, fabric, and made-ups inched up 0.35 per cent to $161.84 million in the first month of the current fiscal from $161.27 billion.

During fiscal 2023-24, India’s exports of textiles and apparel were valued at $34.430 billion, which was 3.24 per cent lower than the shipment of $35.581 billion in 2022-23. Apparel exports decreased by 10.25 per cent to $14.532 billion from $16.190 billion in 2022-23. Meanwhile, textile shipments improved by 2.62 per cent to $19.898 billion in 2023-24 from $19.390 billion in the preceding fiscal.

India imported raw cotton and waste worth $598.63 million, which was 58.39 per cent lower than $1,439.70 million in 2022-23. The import of textile yarn, fabric, and made-ups also eased by 12.98 per cent to $2,277.85 million from $2,617.74 million in 2022-23.

ALCHEMPro News Desk (KUL)