Textile and Apparel exports valued at $263 billion, outshines pre-Covid numbers.
- ByStartupStory | December 27, 2021
India’s textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. A major reason for this rise is the China-plus-one policy and the growing sentiment in favour of India, globally.
According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
Chairman of Apparel Export Promotion Council (AEPC), A Sakthivel said in a statement, “The figures would have been better if the first half of the year was not affected by the second wave and the shipping crisis also hit the industry. “We expect textile and apparel exports to touch around $45 billion by the end of the fiscal year, outshining pre-Covid numbers”
Based on data available with the Confederation of Indian Textile Industry (CITI), export of all commodities in the segment — including cotton yarn, fabrics, made-ups, handloom products, man-made yarn, jute, textiles and apparel — was valued at $263 billion during the April-November period in 2021-22. This is a 51 per cent surge compared to $174 billion during the same period in 2020-21.
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