India’s textile and apparel exports, including handicrafts, grew by 7% during the April-October period of FY25, reaching USD 21.35 billion. This is up from USD 20 billion during the same period last year.
The largest share of exports came from Ready Made Garments (RMG), which contributed USD 8.73 billion (41%) of the total. This was followed by Cotton Textiles at USD 7.08 billion (33%) and Man-Made Textiles at USD 3.1 billion (15%).
While exports of most textile products grew, wool and handloom exports saw a decline. Wool exports dropped by 19%, and handloom exports fell by 6%.
The overall textile imports, including handicrafts, declined by 1% during the same period, amounting to USD 5.43 billion. The largest import category was Man-Made Textiles, which accounted for 34% of total imports.
Imports of Cotton Textiles increased, mainly due to the demand for long-staple cotton fibre, which reflects growing production capacity and rising domestic consumption in India.
India was the sixth-largest exporter of textiles and apparel globally in 2023. Textiles and apparel accounted for 8.21% of India’s total exports in FY24. India holds a 3.9% share of the global textile and apparel market, with the USA and the EU being the major export destinations, making up 47% of total textile exports.
Exports were initially low in FY24 due to geopolitical tensions around the Red Sea, which disrupted export movements in the first quarter of 2024.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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