The Indian textile and apparel sector (T&A) including handicrafts has continued to demonstrate resilience, with the exports growing 7 per cent during the April-October period of FY 2024-25, reaching US $ 21.358 million.
The country stands as the 6th largest exporter of Textiles & Apparel in the world in 2023 contributing to 3.9 per cent of the global trade. Additionally, the T&A sector also consists of 8.21 per cent of total Indian exports. This positive trend comes despite facing challenges such as geopolitical crises and fluctuations in global demand.
Ready-made garments emerged as the leading export category with a 12 per cent rise in its exports compared to previous year’s corresponding year and contributing US $ 8.733 million, followed by cotton textiles at US $ 7.082 million and man-made textiles at US $ 3.105 million with a 1 per cent and 5 per cent rise respectively.
The United States and the European Union are the key export destinations, accounting for nearly 47 per cent of total Indian exports.
Silk products, carpets and jute product exports also went up by 40 per cent, 12 per cent and 1 per cent respectively. However, wool and woolen textiles went down by 19 per cent and handloom products declined by 6 per cent.
The total imports of textiles and apparel in FY2023-24 decreased by approximately 15 per cent to US $ 8.946 million compared to FY2022-23. The government continues to support the sector through various initiatives aimed at boosting exports, improving competitiveness, and promoting sustainable practices.
