However, leather and leather manufactures (-36.48 per cent), readymade garments (RMG) of all textiles (-27.59 per cent), and handicrafts excluding hand-made carpet (-19.48 per cent) were among the major commodity groups of export showing negative growth in May 2021 over May 2019, the data showed.
Major commodity groups of import from textile value chain showing negative growth in May 2021 over May 2019 include cotton raw & waste (-39.94 per cent), leather & leather products (-37.19 per cent) and textile yarn/fabric/made-up articles (-14.48 per cent), as per the government data.
Graph: Department of Commerce, Government of India
In terms of overall trade, India was a net importer in May 2021 with a trade deficit of $6.32 billion, showing an increase of 74.69 per cent over trade deficit of $3.62 billion in May 2020 and reduction by 62.49 per cent over trade deficit of $16.84 billion in May 2019.
India’s merchandise exports in May 2021 was $32.21 billion, an increase of 67.39 per cent over $19.24 billion in May 2020 and an increase of 7.93 per cent over $29.85 billion in May 2019. On the other hand, India’s merchandise imports in May 2021 was $38.53 billion, an increase of 68.54 per cent over $22.86 billion in May 2020 and a decline of 17.47 per cent over $46.68 billion in May 2019.
Fibre2Fashion News Desk (RKS)