Exports of apparel and textiles increased 1.65 per cent in value terms last month compared to June of last year. Apparel shipments (US $ 1293.88 million last month) grew by 3.68 per cent, while textile exports (US $ 1625.37 million in June 2024) increased by just 0.5 per cent. Exports of clothing and textiles increased by 4.08 per cent to US $ 8.785 billion between April and June of the current fiscal year over the same time the previous year.
During the first quarter of the new fiscal year 2024–25 (April–March), textile exports increased by 3.99 per cent, while clothing exports increased by 4.20 per cent. Nonetheless, in the first quarter of the current fiscal year, the proportion of textiles and apparel (T&A) to India’s overall merchandise exports dropped to 7.99 per cent.
India’s apparel exports also improved by 4.20 per cent to US $ 3.849 billion in April-June 2024, up from US $ 3.694 billion in the same period of the previous year.
The Confederation of Indian Textile Industry head, Rakesh Mehra, stated that the industry is doing well so far in the current fiscal year, mostly as a result of India’s growing market share in the United States when compared to its rivals.
About 27 per cent of India’s total textile and garment exports go to the United States. India’s textile and apparel exports to the United States increased by 2.5 per cent year over year from January to May of this year, whereas exports from Bangladesh and China decreased by 11.9 per cent and 1.3 per cent, respectively.
