December 2024 recorded robust growth, with exports increasing by 12.82 per cent. Apparel exports, in particular, surged by 12.89 per cent. Textile exports also saw robust growth similar to garment exports, probably helped by the recent fall in the Indian Rupee against the US dollar. A weaker Indian currency benefited Indian exporters in the global market.
Textile exports grew by 4.87 per cent to $15.277 billion in the first nine months of FY25, compared to $14.567 billion in the same period of the previous year. Apparel exports rose by 11.58 per cent, reaching $11.316 billion, up from $10.141 billion in the corresponding period last fiscal. The share of T&A in India’s total merchandise exports increased to 8.27 per cent during this period, according to the Ministry of Commerce and Trade.
Within the textile sector, exports of cotton yarn, fabrics, made-ups, and handloom products increased modestly by 2.82 per cent, reaching $8.914 billion in the first nine months of this fiscal. Exports of man-made yarn, fabrics, and made-ups rose by 5.31 per cent to $3.610 billion, while carpet exports saw a significant increase of 10.75 per cent to $1,149.50 million.
In December 2024, T&A exports totalled $3.260 billion. Textile exports rose by 12.76 per cent, reaching $1.798 billion, up from $1.594 billion in December 2023. Garment shipments grew by 12.89 per cent, totalling $1.462 billion, compared to $1.295 billion in December 2023. Under textiles, the export of cotton yarn, fabrics, made-ups, and handloom products grew by 11.98 per cent to $1,050.31 million, while man-made yarn, fabrics, and made-ups exports surged by 12.53 per cent to $421.59 million. Carpet exports also increased by 9.15 per cent to $134.23 million.
Imports of raw cotton and waste climbed by 84.18 per cent to $918.69 million in April- December 2024, compared to $498.81 million in the same period of 2023. Imports of textile yarn, fabrics, and made-ups increased by 3.27 per cent, rising from $1,747.04 million to $1,804.21 million. During December 2024, the import of raw cotton and waste surged by an astonishing 384.87 per cent, from $29.47 million to $142.89 million. Similarly, imports of textile yarn, fabrics, and made-ups rose by 9.69 per cent to $219.65 million in the latest month.
In FY24, India’s textile and apparel exports amounted to $34.430 billion, a 3.24 per cent decline from $35.581 billion in FY23. Apparel exports dropped by 10.25 per cent, falling to $14.532 billion from $16.190 billion. Conversely, textile exports grew by 2.62 per cent, reaching $19.898 billion from $19.390 billion in FY23.
India’s imports of raw cotton and waste were valued at $598.63 million in FY24, a 58.39 per cent decrease from $1,439.70 million in the previous fiscal. Imports of textile yarn, fabrics, and made-ups also declined by 12.98 per cent to $2,277.85 million, compared to $2,617.74 million in FY23.
Fibre2Fashion News Desk (KUL)