India’s exports of readymade garment (RMG) of all textiles increased by 5.22 per cent to $13,335 million in the first ten months of fiscal 2022-23 (FY23, April 2022 to January 2023), as per the data released by the department of commerce under India’s ministry of commerce and industry. RMG exports were noted at $12,673 million in the same period of the previous year. 

The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 28.74 per cent to $9,044.38 million in April-January 2023 from $12,692.75 million in the corresponding period of the previous fiscal. Carpet exports came down by 23.14 per cent to $1,156.18 million from $1,504.25 million in the same period in the last fiscal. Man-made yarn, fabrics and made ups exports went down by 11.52 per cent year-over-year (YoY) to $4,075.54 million from $4,606.30 million in the same period. 

India’s RMG exports decreased by 3.48 per cent to $1,492.98 million in January 2023. The exports were noted at $1,546.82 million in the same period of last year. The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 37.42 per cent YoY to $869.26 million from $1,388.94 million. Carpet exports fell by 27.42 per cent to $104.95 million from $144.59 million in the same period. Man-made yarn, fabrics and made ups exports came down by 21.12 per cent to $396.77 million from $503.01 million in the same period. 

India’s overall exports (merchandise and services combined) in January 2023 are estimated at $65.15 billion, exhibiting a growth of 14.58 per cent over the same period last year. Overall imports in January are estimated at $66.42 billion, which was 0.94 per cent higher over the same period last year. 

During April 2022-January 2023, India’s exports of merchandise and services increased 17.33 per cent to reach $641.24 billion against the shipment of $546.55 billion during the corresponding period of last year. Overall imports also increased by 22.92 per cent to $753.19 billion from $612.75 billion during the same period. 

Fibre2Fashion News Desk (KUL)

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