India's textile & apparel exports drop 13.55% to $10.15 bn in Apr-Jul

According to data released by the ministry of commerce and industry, during the first four months of the current fiscal 2023-24 (April-March), the export of cotton yarn, fabric, made-ups, and handloom products decreased by 8.34 per cent to $3,767.83 million, compared to $4,110.67 million in the previous period. Exports of man-made yarn, fabric, and made-ups dropped 12.07 per cent to $1,551.12 million from $1,764.10 million. Apparel exports fell by 17.64 per cent to $4,835.88 million in April-July 2023 compared to $5,871.80 million during the same period the previous year. 

In July 2023, the exports of cotton yarn, fabric, made-ups, and handloom products increased by 6.62 per cent to $1,009.10 million from $946.48 million. The export of man-made yarn, fabric, and made-ups fell 10.45 per cent to $390.25 million from $435.81 million. In the latest month, apparel exports fell 17.37 per cent to $1,141.17 million from $1,381.14 million. 

Overall exports for April-June 2023 decreased by 5.97 per cent to $244.15 billion from $259.67 billion during the same period the previous year. The value of merchandise exports fell 14.49 per cent from $159.32 billion to $136.22 billion during the same period. 

India's overall exports in July 2023 decreased by 5.04 per cent to $59.43 billion from $62.59 billion in the corresponding period of the previous year. The value of merchandise exports dropped 15.88 per cent to $32.25 billion from $38.34 billion in the same period. 

Fibre2Fashion News Desk (KUL)