The growth in exports was largely due to the increasing share of Indian apparel in key markets such as the US, as well as higher exports to the European Union and the UK.
India’s textiles and apparel exports in July saw a growth of 4.73 per cent, reaching $2,937.56 million compared to the same month last year, primarily due to increased demand for apparel, according to the Confederation of Indian Textile Industry (CITI). In July 2023, textiles and apparel exports were recorded at $2,805.01 million, CITI reported.
Textile exports remained stable at $1,660.36 million in July, slightly lower than the $1,663.06 million recorded the previous year. However, apparel exports during the month experienced a significant surge of 11.84 per cent, reaching $1,277.20 million, up from $1,141.95 million in the same period last year.
Rakesh Mehra, Chairman, CITI, noted that this year has shown promising progress for India’s textiles and apparel exports, particularly when compared to the previous year. The growth in exports was largely due to the increasing share of Indian apparel in key markets such as the US, as well as higher exports to the European Union and the UK.
Mehra also mentioned that the industry remains optimistic about export orders in the coming months and is well-positioned to further benefit from recently concluded Free Trade Agreements (FTAs) like the India-Australia Economic Cooperation and Trade Agreement (ECTA) and the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
He expressed confidence that these agreements would provide additional momentum to exports, and the industry is strategically preparing to capitalize on these opportunities, ensuring that India continues to be a key player in the global textiles and apparel market.