New Delhi, Jan 02, ANB: India is the 6th largest exporter of Textiles & Apparel in the world in 2023. The share of textile and apparel (T&A) including handicrafts in India’s total exports stands at a significant 8.21% in 2023-24. Our country has a share of 3.9% of the global trade in textiles and apparel. Major textile and apparel export destinations for India are USA and EU and with around 47% share in total textile and apparel exports. India is a major textile and apparel exporting country and enjoys trade surplus. Bulk of import takes place for re-export or for industry requirement of raw material.
It is noteworthy that export is a function of demand and supply and depends on factors such as global demand, internal consumption and demand, order flow, logistics etc. Exports also get affected by many geopolitical situations (such as the Red sea crisis, Bangladesh crisis etc.). Export in FY 2024 was initially low mainly due to the geopolitical crises around the Red Sea, which affected export movement during January, February and March 2024.
The overall export of Textiles & Apparel (incl. handicrafts) marked a growth of 7% during the April-October period of FY 2024-25 ($ 21,358 Mn) compared to the same period of FY 2023-24 ($ 20,007 Mn).
Ready Made Garments (RMG) category with export of $ 8,733 Mn has the largest share (41%) in the total exports ($ 21,358 Mn) during the period of April-October of FY 2024-25, followed by Cotton Textiles (33%, $ 7,082 Mn), Man- Made Textiles (15%, $ 3,105 Mn).
