India’s Textile & Apparel Exports Clock 7% Growth At $21.36 Billion In April-October

India’s textile and apparel exports, including handicrafts, grew by 7% to $21.36 billion during April-October FY 2024-25, compared to $20.01 billion in the same period of FY 2023-24. The Ministry of Textiles announced the figures in a statement on Thursday.

Ready-made garments (RMG) led the export category, contributing 41% of the total exports at $8.73 billion. Cotton textiles followed with a 33% share at $7.08 billion, while man-made textiles accounted for 15%, valued at $3.105 billion.

The US and the EU remained key destinations, comprising 47% of total textile exports. Despite initial slowdowns in FY 2024 due to geopolitical crises near the Red Sea, export growth resumed strongly in April-October FY 2024-25.

However, wool and handloom exports declined by 19% and 6%, respectively, during the same period. India’s position as a major exporter ensures a trade surplus in the sector, with most textile imports aimed at re-exports or industrial needs.

Import Trends And Global Standing

Overall textile and apparel imports fell by 1% to $5.425 billion during April-October FY 2024-25 compared to $5.464 billion in the same period of FY 2023-24. Man-made textiles dominated imports, contributing $1.86 billion, or 34% of the total.

Cotton imports saw a notable rise due to the demand for long-staple cotton fibre, indicating an increase in production capacity. In FY 2023-24, total textile imports dropped by 15% to $8.946 billion from $10.481 billion in FY 2022-23.

India is the 6th largest exporter of textiles and apparel globally, with the sector accounting for 8.21% of the country’s total exports in FY 2023-24. India holds a 3.9% share in global textile trade, underscoring its growing prominence.

Also Read: India’s Auto Sales Surge To Record 26.1 Million Units, Marking Full Post-Pandemic Recovery