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

May 07, 2021
COVID crisis: Textile exports fell by 13% in FY2020-21

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 

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