Textile exports jump 14% in Nov

After a staggering 38 per cent jump in October, India’s textile and apparel exports growth moderated to 14 per cent in November due to a sharp volatility in the rupee against the dollar. Data compiled by the Union Ministry of Textiles showed India’s textile and apparel exports at Rs 189.65 billion for the month of November 2018 compared to Rs 167.07 billion in the corresponding month last year. For the period between April and November, however, total textile and apparel exports witnessed a growth of 7 per cent to Rs 1,600.10 billion for 2018 versus Rs 1,492.54 billion in the same period last year.

In dollar term, however, India’s textiles and apparel exports recorded a mere 2 per cent jump to $2.64 billion for November 2018 versus 2.57 billion for the same month last year. For the period between April and November, however, total textile and apparel exports remained flat at $23.18 billion.

“This is the normal growth in textile and apparel sector,” said Sanjay Jain, Chairman, Confederation of Indian Textile Industry (CITI) by adding, “This growth momentum would continue for the rest of the months in 2018-19.”