The Ministry also noted that exports of all major commodities had grown during the period, compared to the same time in FY 2023-24.
India’s textiles and apparel exports, including handicrafts, grew by 7 per cent to reach $21.35 billion during the April-October period, according to a government announcement. This was an increase from $20 billion during the same period in the previous financial year, FY 2023-24.
The Textiles Ministry reported that the Ready-Made Garments (RMG) category, with exports of $8,733 million, accounted for the largest share (41 per cent) of the total exports of $21.35 billion during April-October of FY 2024-25. This was followed by cotton textiles (33 per cent, $7,082 million) and man-made textiles (15 per cent, $3,105 million).
The Ministry also noted that exports of all major commodities had grown during the period, compared to the same time in FY 2023-24, except wool and handloom, which saw declines of 19 per cent and 6 per cent, respectively.
Meanwhile, the overall import of textiles and apparel, including handicrafts, decreased by 1 per cent during the April-October period of FY 2024-25, totalling $5,425 million, compared to $5,464 million during the same period in FY 2023-24.
The Ministry highlighted that the Man-Made Textiles category had the largest share of imports, amounting to $1,859 million (34 per cent) in the total imports of $5,425 million during the period. This trend is due to a demand-supply gap in this sector.
The Ministry also observed that growth in imports was mainly seen in Cotton Textiles, particularly due to the import of long staple cotton fibre. This indicates an increase in the country’s production capacity amidst rising consumption and self-reliance.
In FY 2023-24, India’s textile and apparel imports totalled $8.94 billion, a decrease of nearly 15 per cent from $10.48 billion in FY 2022-23.
India was ranked as the sixth-largest exporter of textiles and apparel in the world in 2023. The share of textiles and apparel, including handicrafts, in India’s total exports stood at 8.21 per cent in FY 2023-24. The Ministry further stated that India holds a 3.9 per cent share of global trade in textiles and apparel, with the major export destinations being the USA and the EU, which together account for around 47 per cent of India’s total textile and apparel exports.
The Ministry emphasized that India is a significant textile and apparel exporter and enjoys a trade surplus, with the bulk of imports being for re-export or for the industry’s raw material needs.
It was also noted that exports are influenced by factors such as global demand, internal consumption, order flow, and logistics. Exports in FY 2024 were initially low due to the geopolitical crises around the Red Sea, which impacted export movement during January, February, and March 2024, the Ministry added.