India’s textile, apparel exports rise 7% to $21.36 bn in April-Oct FY2024-25

India’s overall exports of textiles and apparel, including handicrafts rose by 7%, reaching $21.36 billion during the April-October period of FY 2024-25, compared to $20 billion in the corresponding period of FY 2023-24.

India was ranked as the 6th largest exporter of textiles and apparel globally in 2022-2023, with its share of global trade in textiles and apparel standing at 3.9%. The share of textile and apparel (T&A) including handicrafts in India’s total exports stood at a significant 8.21% in 2023-24.

India’s textiles and apparel imports have reduced by 15% to $8.9 billion in FY 2023-24, compared to $10.481 billion in FY 2022-23. Imports surged majorly in cotton textiles, primarily due to the import of long-staple cotton fibre.

The top importers for India’s textile and apparel are the USA and the EU, with around 47% share of total textile and apparel exports. The majority of imports are for re-export or to meet the raw material requirements of the industry. “India is a major textile and apparel exporting country and enjoys a trade surplus.”

Of the total exports, India’s ready-made garments (RMG) account for the largest share at 41% at $8.733 billion, followed by cotton textiles holding 33% amounting to $7.082 billion, man-made textiles at 15% accounting for $3.105 billion during April-October FY2024-25.

Growth was observed in all commodities except for wool and handloom, where exports of wool and handloom witnessed a decline of 19% and 6%, respectively.

Of the total imports, India’s textiles and apparel, including handicrafts dropped by 1%, reaching $5.425 billion during the April-October period of FY 2024-25, compared to $5.464 billion in the corresponding period of FY 2023-24. “Man-made Textiles category with imports of $1859 Mn has the largest share (34%) in the total imports ($ 5,425 Mn) during the period of April-October of FY 2024-25, as there is demand-supply gap in this sector.”