Home breadcru News breadcru Import/Exports breadcru Low reliance on Canada cushions India's textile sector amid tensions

Low reliance on Canada cushions India's textile sector amid tensions

17 Oct '24
1 min read
Low reliance on Canada cushions India's textile sector amid tensions
Pic: Adobe Stock

Insights

  • India's textile trade with Canada is not expected to be heavily impacted by the recent diplomatic tensions between the two countries.
  • From January to July 2024, India's exports to Canada were modest, with apparel accounting for 1.52 per cent, home textiles for 2.61 per cent, and fabrics for 0.71 per cent of the total exports in these categories.
India-Canada textile trade is unlikely to suffer significantly despite the recent escalation in diplomatic tensions. India is one of the world’s major textile exporters, but its reliance on textile trade with Canada is minimal, as the data suggests.

India's total apparel exports amounted to $9.466 billion during the first seven months of 2024, with exports to Canada accounting for $144.070 million during the same period, representing just 1.52 per cent of the total. In 2023, India's apparel exports to Canada were valued at $248.435 million, compared to $297.863 million in 2022, according to Fibre2Fashion's market insight tool TexPro.

In terms of home textiles, India exported $4.372 billion worth of goods during January to July 2024, with $113.988 million shipped to Canada, making up 2.61 per cent of the total trade. India’s home textile exports to Canada were valued at $164.377 million in 2023 and $201.828 million in 2022.

Fabric exports to Canada stood at $18.377 million, representing 0.71 per cent of India’s total fabric exports of $2.584 billion in the first seven months of 2024. In 2023, fabric exports to Canada were valued at $26.196 million, down from $28.233 million in 2022.

ALCHEMPro News Desk (KUL)

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