In March, exports of clothing and textiles, which had been under pressure for almost a year, increased by 69.1 per cent year over year. Nevertheless, compared to the previous year, exports decreased by 3.24 per cent for the fiscal year 2023–2024.
Exports of cotton yarn, textiles, and made-up rose 6.78 per cent in March compared to the same month last year. These increased by 6.71 per cent in FY ’24 compared to the previous year.
While apparel exports increased 1.7 per cent last month over March 2023, they decreased 10.25 per cent from 2022–2023 in the fiscal year 2023–2024.
The durability of the Indian textile sector was demonstrated, according to Sunil Patwari, chairman of the Cotton Textiles Export Promotion Council, by the rise of cotton textiles in the previous fiscal year, despite geostrategic concerns. In order to maintain the growth, he suggested that the new government to be formed at the Centre deal with matters like cotton prices and preferential access in important markets.