Textiles And Apparel Export Plunge 13.74% In April-July 2023

New Delhi, Aug 17 (KNN) The exports of textiles and apparel were down 1.9 per cent and 17.37 per cent respectively in July this year compared with the same period last year, reported The Hindu.

The Cumulative export of textiles and apparel for the April-July 2023 period slid 13.74 per cent year-over-year.

As per the Confederation of Indian Textile Industry (CITI) data, the cotton yarn, fabrics, and made-ups registered 6.62 per cent growth in July 2023 as against July 2022. However, shipment of manmade yarn, fabrics, and made-ups, jute products, carpets, handicrafts, and apparel items registered negative growth.

Textile products worth a total of USD 1,663 million were shipped last month compared with USD 1,695 million last July. Apparel exports were USD 1,381 million in July 2022 and USD 1,141 million last month.

Sanjay Jain, Indian Chamber of Commerce chairman on textiles and Managing Director of TT Limited, said garment exports were at a “sustained low” for a year.

“Retailers in the US market are destocking and demand is expected to revive. There are enquiries for garments for spring/summer 2024 for which shipments will begin early next year. Cotton yarn exports usually look up in September-October. India expects a good cotton crop next season. If cotton prices remain competitive, exports will revive,” he said.  (KNN Bureau)