Booming Indian Textile Exports: A 7% Surge Despite Global Challenges

India's textiles and apparel exports, including handicrafts, witnessed a 7% increase during April-October 2024, reaching USD 21.35 billion. Despite a drop in wool and handloom exports, significant growth was noted in other commodities. Imports declined by 1%, reflecting increased domestic production and self-reliance.

India's textile and apparel sector recorded a 7% growth in exports, reaching USD 21.35 billion between April and October 2024, the government reported on Thursday. This figure marks a notable increase from USD 20 billion in the same period of the previous year.

The Ready Made Garments (RMG) category dominated exports with USD 8,733 million, making up 41% of total exports. Cotton textiles followed closely, contributing 33% (USD 7,082 million), while man-made textiles accounted for 15% (USD 3,105 million), according to the Textiles Ministry.

Imports decreased by 1% during the same period this fiscal year, highlighting an emerging self-reliance in cotton textiles. Despite geopolitical tensions impacting exports earlier in 2024, the industry shows resilience, with India holding 3.9% of the global textile trade, ranking as the sixth largest exporter worldwide.

(With inputs from agencies.)