India's textile and apparel industry continues its robust growth trajectory, with exports witnessing a significant upswing in September 2024. According to recent data released by the Confederation of Indian Textile Industry (CITI), textile exports for September 2024 reached $1,813.27 million, a 9.56% increase compared to the same period last year. Apparel exports demonstrated even more impressive growth, surging by 17.30% to reach $1,110.11 million.
This positive trend extends to the cumulative export figures for the first half of the fiscal year 2024 (April-September). Overall, textiles and apparel exports for this period have grown by 5.13% compared to the previous year. Notably, apparel exports have recorded a strong 8.51% growth, highlighting the increasing global demand for Indian apparel products.
CITI Chairman, Rakesh Mehra, expressed his optimism about the sector's performance, stating, "India's textile and apparel exports continue to show strong momentum, with a 12.38% growth in September 2024 over the previous year. Apparel exports, in particular, saw an impressive rise of 17.30%, reflecting the global demand for quality Indian products. The steady growth of 5.13% in cumulative exports for the first half of FY24 reinforces our sector's resilience and potential in driving economic progress."
Apparel exports outshine despite global slowdown
The Apparel Export Promotion Council (AEPC) echoed CITI's positive outlook. AEPC Chairman, Sudhir Sekhri, emphasized the sector's resilience in the face of global economic challenges. "India's RMG exports have outshined despite the global slowdown and continued inflationary pressure," Sekhri stated. "Even major exporting countries witnessed a slowdown in RMG export growth, and the WTO also lowered its growth projection for world merchandise trade."
Sekhri attributed India's success to its unique advantages, including low import intensity, a complete textile ecosystem, and a young and abundant workforce. He further highlighted the sector's potential for job creation, particularly for unskilled and underprivileged workers.
Comprehensive Data Table: Exports(ValuesinUS$Mn)
|
Particulars |
Sep-23 |
Sep-24 |
%Change |
Apr-Sep'23 |
Apr-Sep'24 |
%Change |
|
CottonYarn/Fabs./made-ups, HandloomProductsetc. |
1,017.82 |
1,053.19 |
3.48% |
5,899.76 |
5,946.53 |
0.79% |
|
Man-madeYarn/Fabs./made- ups etc. |
372.76 |
415.28 |
11.41% |
2,336.25 |
2,405.06 |
2.95% |
|
JuteMfg.includingFloor Covering |
28.89 |
33.64 |
16.44% |
185.14 |
179.39 |
-3.11% |
|
Carpet |
113.79 |
130.78 |
14.93% |
669.35 |
745.74 |
11.41% |
|
Handicraftsexcl.handmade carpet |
121.8 |
180.38 |
48.10% |
791.99 |
878.76 |
10.96% |
|
Textiles |
1,655.06 |
1,813.27 |
9.56% |
9,882.49 |
10,155.48 |
2.76% |
|
Apparel |
946.35 |
1110.11 |
17.30% |
6916.44 |
7505.14 |
8.51% |
|
TextileandApparel |
2,601.41 |
2,923.38 |
12.38% |
16,798.93 |
17,660.62 |
5.13% |
|
AllCommodities |
34,407.98 |
34,582.15 |
0.51% |
2,11,079.42 |
2,13,222.29 |
1.02% |
|
%ofT&AinTotalExports |
7.56% |
8.45% |
|
7.96% |
8.28% |
|
Source:PIB
These figures paint a picture of a thriving and optimistic textile and apparel sector in India. The sector's continued growth is poised to contribute significantly to India's economic development.
