India's textile & apparel exports up in Feb, but cumulative trade dips

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 last year.

The Ministry of Commerce and Trade's latest trade figures showed that T&A exports were $32.361 billion from April 2022 to February 2023. Textile exports increased marginally by 1.75 per cent to $17.928 billion from April 2023 to February 2024, up from $17.618 billion in the same period of the last fiscal. Cotton yarn, fabrics, made-ups, and handloom products saw a 6.70 per cent increase to $10.588 billion in the first eleven months of the current fiscal. However, the shipment of man-made yarn, fabrics, and made-ups declined by 5.20 per cent to $4.239 billion, and carpet exports increased by 0.88 per cent to $1.266 billion in the period.

India's apparel exports fell by 11.42 per cent to $13.059 billion from April 2023 to February 2024, down from $14.742 billion in the same period of the previous year.

In February 2024, T&A exports increased by 12.49 per cent to $3.290 billion from $2.925 billion in the corresponding period of 2023. Textile exports jumped 19.54 per cent to $1.814 billion from $1.407 billion in February 2023. Cotton yarn, fabrics, and made-ups exports grew by 17.07 per cent to $1.02693 billion in February 2024. However, exports of man-made yarn, fabric, and made-ups gained 8.66 per cent to $431.74 million in the period. Apparel exports from the country increased by 4.88 per cent to $1.476 billion in February 2024 from $1.407 billion in February 2023.

According to the latest figures, imports of cotton raw and waste declined by 60.26 per cent to $549.83 million from April 2023 to February 2024, down from $1.383 billion in the same period of 2023. Imports of textile yarn, fabric, and made-ups dropped by 13.05 per cent to $2.12 billion in the first eleven months of the current fiscal from $2.434 billion. During February 2024, imports of cotton raw and waste dropped by 9.40 per cent to $31.43 million, while textile yarn, fabric, and made-ups imports increased by 11.62 per cent to $185.08 million.

ALCHEMPro News Desk (KUL)