According to the US Department of Commerce’s Office of Textiles and Apparel (OTEXA), Indian textile and apparel exports to the US has gone up by 6.5 per cent amid January and October last year compared with an average 2 per cent annual growth in the last five years. Readymade garments played a significant role in India’s double-digit export growth in May, clocking a 25 per cent increase (year-on-year). A stable revival in the US economy holds out hope for the coming year, with the optimism in the collective demand for textile and apparel products expected to continue in the coming months. Exports to mainland Europe have also witnessed an increase this year, with this renewed buoyancy in the textile and apparel exports marking a departure from the sluggish growth trend in the previous three years, which was helped by a perceptible improvement in raw material supplies.
