India’s apparel exports in October ’20 have seen massive uptick both on monthly as well as yearly note.
According to the data released by Ministry of Commerce, India, the country clocked US $ 1.17 billion in its RMG exports during October ’20, marking 10 per cent surge from October ’19.
Markedly, India was also up by huge 79.67 per cent as compared to September figures when it shipped apparels to the world worth just US $ 651.16 million.
The increase in exports, especially Y-o-Y increase, signals towards revamping export industry following recovery in its major as well as non-traditional export destinations.
However, the fresh wave of new lockdowns in some major countries may put a haul on India’s exports in coming time.
As far as April-October ’20 period (two quarters of India’s fiscal year 2021) is concerned, the country was still down by 29.41 per cent from the same period of 2019 to clock US $ 6 billion from export revenues, making a total loss of US $ 2.49 billion from 2019’s figures.