Indian Textile and Apparel exports shows significant growth, drives optimism for continued success – CITI

New Delhi 14 Nov 2024: In a positive trend, India’s textile and apparel sector demonstrated remarkable growth in October 2024. As per the Quick Estimates released for the month of October 2024, Indian textile exports was higher by 11.56% while apparel exports increased by 35.06% as compared to October 2023.

Chairman CITI, Shri Rakesh Mehra, expressed optimism about this upward trajectory, highlighting the sector’s potential for robust and sustained growth. “This growth reflects not only the resilience and adaptability of our industry but also underscores India’s strengthening position in the global textile and apparel markets,” cited Shri Mehra.

Shri Mehra attributed this significant progress to multiple factors, including the increased market share of Indian T&A exports in the USA, as well as supportive government initiatives like the extension of the Remission of Duties and Taxes on Export Products (RoDTEP) and Interest Equalization Scheme (IES). He also highlighted the impact of the sector’s collective commitment to quality, innovation, and sustainable practices, positioning India as a preferred sourcing destination worldwide.

• During Oct’24, Indian Textile exports was about 56% higher as compared to Oct’23 while Apparel exports registered a significant growth of 35.06% during the same time period.
• Cumulative exports of Textiles and Apparel during Oct’24 have registered a growth of 93% over Oct’23.
• During Apr-Oct’24, Indian Textiles exports registered a growth of01% over the previous year while Apparel exports registered a growth of 11.60% during the same time.
• Cumulative exports of Textiles and Apparel during Apr-Oct’24 have registered a growth of 08% as compared to Apr-Oct’23.

                                     Exports (Values in US$ Mn)

Particulars	Oct-23	Oct-24	% Change	Apr-Oct’23	Apr-Oct’24	% Change
Cotton Yarn/Fabs./made-ups, Handloom Products etc.	977.49	1,045.57	6.96%	6,877.25	6,991.09	1.66%
Man-made Yarn/Fabs./made- ups etc.	388.01	438.03	12.89%	2,724.26	2,843.12	4.36%
Jute Mfg. including Floor Covering	23.96	32.82	36.98%	209.1	212.21	1.49%
Carpet	125.69	146.79	16.79%	795.04	892.51	12.26%
Handicrafts excl. handmade carpet	128.7	170.74	32.67%	920.69	1049.51	13.99%
Textiles	1,643.85	1,833.95	11.56%	11,526.34	11,988.44	4.01%
Apparel	908.78	1,227.44	35.06%	7,825.22	8,732.56	11.60%
Textile and Apparel	2,552.63	3,061.39	19.93%	19,351.56	20,721.00	7.08%
All Commodities	33,433.54	39,195.55	17.23%	2,44,512.95	2,52,282.94	3.18%
% of T&A in Total Exports	7.63%	7.81%		7.91%	8.21%

Source: PIB

 

                Imports (Values in US$ Mn)

Particulars	Oct-23	Oct-24	% Change	Apr-Oct’23	Apr-Oct’24	% Change
Cotton Raw & Waste	36.68	127.71	248.17%	438.73	605.1	37.92%
Textile yarn fabric, made-ups	215.58	234.56	8.80%	1,353.14	1,407.04	3.98%

Source: PIB