COVID crisis: Textile exports fell by 13% in FY2020-21

COVID crisis: Textile exports fell by 13% in FY2020-21

The provisional data of the Cotton Textiles Export Promotion Council revealed that the exports of readymade garments and manmade textile declined by 20.78% and 21.20%, respectively. The final data is expected by May end.

Coimbatore,
Tamil Nadu

The provisional
data of Cotton Textiles Export Promotion Council revealed that, in 2020-2021,
the textiles and apparel exports declined by 13% (in dollar terms) compared to
that in 2019-2020. The exports dropped to $29 billion in 2020-2021 from $34
billion in 2019-2020. The final data is expected later this month.

Similarly, the
exports of ready-made garments declined by 20.78% while the exports of manmade
textile items fell by 21.20%.

Siddhartha
Rajagopal, Executive Director, Cotton Textiles Export Promotion Council
mentioned that the decline was mainly due to the spread of
COVID-19 and the impact
of the subsequent lockdown on exports in April and May last year.

Textile and
clothing exports are expected to perform well this year as countries such as
China, the US and the UK have started importing again. A. Sakthivel, Chairman,
Apparel Export Promotion Council, observed that the apparel exports have
started looking up and the industry can expect a growth of 20% in this
financial year.

Source:
The Hindu

Image Source: Unsplash 

Related
Stories:

https://indiantextilejournal.com/latest-textile-industry-news/vietnam-s-q1-textile-exports-turnover-is-recovering-

https://indiantextilejournal.com/latest-textile-industry-news/chinese-fabric-exports-fall-due-to-regional-competition

https://indiantextilejournal.com/latest-textile-industry-news/govt-announces-rodtep-scheme-to-boost-textile-exports

https://indiantextilejournal.com/latest-textile-industry-news/govt-identifies-10-sectors-to-cut-imports

 

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (2)
  • comment-avatar

    Good article with great ideas! Thank you for this important article. Thank you very much for this wonderful information.
    live tv racing results for today https://bit.ly/little-saigon

  • comment-avatar

    Great website. Lots of useful information here. I look forward to the continuation. https://www.yoykem.com.tr/

  • Disqus ( )

    Hi There!

    Now get regular updates from ITJ Magazine on WhatsApp!

    Click on link below, message us with a simple hi, and SAVE our number

    You will have subscribed to our Textile News on Whatsapp! Enjoy

    +91 81082 88300

    Reach out to us

    Call us at +91 8108603000 or

    Schedule a Call Back