Textile and apparel export in April down by double digits

India’s textile and apparel export in April month is down by double digits. As per the official data, the export of textile yarn fabric made-up articles was 17.06 per cent down in April 2023.

Textiles exports continued to decline in April 2023 because of subdued demand due to recessionary effects in major economies.

The Confederation of Indian Textile Industry (CITI) analysis of exports and imports of textile and apparels for April 2023 also says that during April ’23, India’s textiles exports registered de-growth of 20.70 per cent over the previous year while the apparel exports registered a de-growth of 23.10 per cent during the same period.

It can be mentioned here that as weakening global demand and declining commodity prices continued to weigh on outbound shipments, India’s overall goods exports fell the steepest in three years in April. The commerce ministry data showed that the goods exports declined by nearly 13 per cent in April to US $ 34.66 billion from US $ 39.70 billion in the previous year period.

Quick estimates for selected major commodities for April 2023 (Export)

(Values in Million US $)

Data: Govt. of India

Santosh Sarangi, Director General of Foreign Ttrade (DGFT) was quoted by Mint, the leading english daily saying that the apparel industry has been impacted fairly badly. If you look at the Bangladesh economy, it has been severely hit due to reduced demand for readymade garments.

The demand scenario does not look good as far as the US and Europe are concerned, at least for the next two to three months, he added. “Hopefully, things will change from September onwards.”

The textile yarn fabric, made-up articles’ import is also estimated to reduce by 17.06 per cent as in April ’22 it was US $ 194.58 million and in April ’23 it is estimated at US $ 161.38 million.