Textile and apparel exports grew 1.63 % last month value terms as against last June.
While textile exports ($ 1625.37 million in June 2024) increased just 0.5 %, apparel shipments ($ 1293.88 million last month) saw 3.68 % growth. From April to June this fiscal, textile and apparel exports were 4.08% higher compared with the same period last year.
Rakesh Mehra, chairman of the Confederation of Indian Textile Industry, said the current financial year is good so far for the sector and it is mainly due to the increased share of India in the U.S. market compared with its competitors.
The U.S. accounts for about 27 % of India’s total textile and apparel exports. From January to May this year, India’s textile and apparel exports to the U.S. went up 2.5 % year on year, while exports from China and Bangladesh saw 1.3 % and 11.9 % decline. “The industry is optimistic about the growth of the Indian textile industry and favourable policy measures in the upcoming budget will propel the growth of exports,” he said in a press release.
