Textile exports grew to $8.78 billion in the first quarter of FY25, compared to $8.43 billion in the same period last year.
Indian textile exports have risen by 4.15 per cent in the first quarter of the current fiscal year, driven by increasing demand from the Commonwealth of Independent States (CIS) and South Asian markets.
Data from the commerce ministry indicates that textile exports grew to $8.78 billion in the first quarter of FY25, compared to $8.43 billion in the same period last year.
This growth is significant as the domestic apparel and textile industry contributes about 2.3 per cent to the country’s GDP, 13 per cent to industrial production, and 12 per cent to exports. India ranks as the world’s sixth largest exporter of textiles and apparel. The CIS region, including countries like Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, experienced a growth of 113.33 per cent, increasing to $64 million in the quarter compared to $30 million in the corresponding period of the previous fiscal year. South Asia also saw a notable increase of 35.65 per cent, reaching $898 million.
Exports to Latin America grew by 15 per cent to $346 million in the first quarter, attributed to strengthened trade relations and rising demand for Indian textiles in Latin American markets.
Conversely, regions like North East Asia (NEA) and Africa witnessed a decline in exports, emphasizing the need for strategic adjustments to address market-specific challenges.
Textile exports to NEA fell by 28 per cent, decreasing to $298 million in the first quarter. Similarly, exports to Africa decreased by 15.74 per cent to $423 million.
Rahul Mehta, chief mentor of the Clothing Manufacturers Association of India (CMAI), mentioned that the first quarter of FY25 is showing some upward movement in apparel exports, which is a positive change from the downward trends observed in the last couple of years.