Exports of Cotton yarn, fabrics and made-ups from India increased by 6.78 per cent Y-o-Y in Mar’24, notes Sunil Patwari, Chairman, Cotton Textiles Export Promotion Council (TEXPROCIL). They also registered a 6.71 per cent Y-o-Y rise during FY’24, adds Patwari.
After being under pressure for more than a year, textile and apparel (T&A) exports grew by 6.91 per cent Y-o-Y during Mar’24. However for the entire FY’24, these exports contracted by 3.24 per cent
On the other hand, India’s apparel exports, which increased by 1.7 per cent Y-o-Y in Mar’24 declined by 10.25 per cent during FY24.
This growth in India’s cotton textiles last financial year despite geo-strategic challenges shows the resilience of the Indian textile industry. To sustain this growth, the new Central government needs to address issues such as cotton prices and preferential access in key markets, opines Patwari.
