India’s textiles and apparel exports, including handicrafts, grew by 7% during the April-October period of FY25, reaching Rs. 1,83,098 crore (US$ 21.35 billion), up from Rs. 1,71,520 crore (US$ 20 billion) in the same period of FY24. The Ready-Made Garments (RMG) category led the growth with exports of Rs. 74,868 crore (US$ 8.73 billion), accounting for 41% of total exports. Cotton Textiles followed with Rs. 60,718 crore (US$ 7.08 billion) (33%), while Man-Made Textiles contributed Rs. 26,586 crore (US$ 3.1 billion) (15%). On the import side, the Man-Made textile category had the largest share, with imports of Rs. 15,951 crore (US$ 1.86 billion) (34%) of total textile imports during the same period. Growth in imports of Cotton Textiles, long staple cotton fibre, reflects an increase in domestic production capacity amidst rising consumption.
In FY24, India’s total imports of textiles and apparel declined by nearly 15%, reaching Rs. 76,669 crore (US$ 8.94 billion) compared to Rs. 89,876 crore (US$ 10.48 billion) in FY23. Despite this, India remains a significant player in the global textiles and apparel trade, ranking as the world’s sixth-largest exporter in 2023. India’s textile exports accounted for 8.21% of the total export share in FY24, with key destinations including the USA and the European Union. The country holds a 3.9% global textile and apparel trade share and enjoys a trade surplus. Export growth was observed across most categories. Additionally, imports during April-October 2024 dropped by 1% compared to the same period in 2023.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.