The visit of the President of the Republic of Paraguay, Santiago Peña Palacios, to India reaffirmed the mutual commitment of both countries towards economic cooperation, trade, and investment. The President held discussions with India’s apex trade body, the Federation of Indian Export Organisations (FIEO). The visit highlighted trade relations not only with Paraguay but with the entire MERCOSUR bloc.
India exported textiles and apparel worth $171 million in 2023 and $148 million in 2022 to the MERCOSUR bloc. Apparel exports to the bloc stood at $113 million in 2024, $101 million in 2023, and $94 million in 2022. Exports of home textiles were $57 million in 2024, $41 million in 2023, and $34 million in 2022. Fabric exports amounted to $33 million in 2024, $29 million in 2023, and $20 million in 2022, according to Fibre2Fashion’s market insight tool TexPro.
During the first two months of the current year, India shipped apparel worth $13 million, home textiles worth $10 million, and fabric worth $7 million to the bloc.
Among the four member countries of the bloc, Brazil is the largest market for Indian textiles and apparel. In January–February 2025, India exported apparel worth $9.137 million, home textiles worth $6.217 million, and fabric worth $4.187 million to Brazil, totalling nearly $16 million. Apparel exports to the country were valued at $88.347 million in 2024, $80.607 million in 2023, and $71.044 million in 2022.
India’s home textile exports to Brazil were worth $44.397 million in 2024, $28.368 million in 2023, and $22.713 million in 2022. Fabric exports stood at $24.622 million in 2024, $20.442 million in 2023, and $14.247 million in 2022.
Among the bloc’s member countries, Paraguay was the smallest market for Indian textiles and apparel exports. In the first two months of this year, India shipped apparel, home textiles and fabric worth no more than $150,000. In 2024, the value of these exports to Paraguay totalled $2.326 million, as per TexPro.
However, India has the potential to explore a larger market in Paraguay. The country imported apparel worth $25 million in the first two months of the current year. It also imported fabric worth $36.722 million and home textiles worth $5.124 million during the same period. In 2024, Paraguay imported apparel worth $151.774 million, fabric worth $186.982 million, and home textiles worth $33.805 million.
ALCHEMPro News Desk (KUL)
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