Despite global challenges Indian textile exports surge by 9.59% in May

Indian textile exports grew by 6.04 per cent compared to the previous year, while apparel exports grew by 4.46 per cent during the same period.

Indian textile exports experienced a 9.59% increase in May 2024 compared to the previous year, despite challenging economic conditions in key markets such as the European Union (EU), the US, and West Asian nations, according to a report by the Confederation of Indian Textile Industry (CITI).

The country’s total exports for May 2024 rose to $68.29 billion, marking a significant year-on-year growth of 10.2 per cent, as per data released by the Commerce Ministry.

The analysis highlighted that during April-May 2024, Indian textile exports grew by 6.04 per cent compared to the previous year, while apparel exports grew by 4.46 per cent during the same period. The cumulative exports of textiles and apparel during April-May 2024 increased by 5.34 per cent compared to the same period last year.

The recently released export data showed strong performance in sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics and linoleum, cotton yarn/fabs made-ups (manufactured textiles), and handloom products. Other merchandise products like meat, dairy and poultry products, mica, coal and other ores, minerals including processed minerals, ready-made garments, tea, coffee, rice, tobacco, carpets and handicrafts, oil seeds, and fruits and vegetables also performed well in the country’s exports.