India records highest textile export in FY22 at $44 bn

New Delhi, June 1 (KNN) The Textile Ministry on Tuesday said that India recorded the highest ever textile and apparel export of USD 44.4 billion in FY22. The export tally saw a substantial increase of 41 per cent and 26 per cent surpassing figures of FY21 and FY20.

The USA stood as the top export destination for the country's textiles and apparel shipments accounting for 27 per cent share, followed by the European Union (18 per cent), Bangladesh (12 per cent) and UAE (6 per cent).

In terms of product categories, the export of cotton textiles was USD 17.2 billion with 39 per cent share registering a growth of 54 per cent and 67 per cent during 2021-22 over FY21 and FY20, respectively.

Export of ready-made garments stood at USD 16 billion with 36 per cent share showing a growth of 31 per cent and 3 per cent during 2021-22 over FY21 and FY20, respectively.

Man-made textiles exports marked USD 6.3 billion with a 14 per cent share marking a growth of 51 per cent and 18 per cent during 2021-22 over FY21 and FY20.

Handicraft Export stood at Handicraft Export stood at USD 2.1 billion with 5 per cent share, showing growth of 22 per cent and 16 per cent during 2021-22 over FY21 and FY20.  (KNN Bureau)