India’s
Share of Global Trade in Textiles and Apparel Stands at 3.9%
·
Ready Made Garments (RMG) with export of $ 8,733 Mn has the largest share
(41%) in the total exports ($ 21,358 Mn) followed by Cotton Textiles (33%, $ 7,082
Mn), Man- Made Textiles (15%, $ 3,105 Mn) during the period of April-October of
FY 2024-25.
·
Import of textiles and apparel products by India during FY 2023-24 ($ 8,946
Mn) has decreased by approximately 15% in comparison to FY 2022-23 ($10,481 Mn).
India is the 6th largest exporter of Textiles
& Apparel in the world in 2023. The share of textile and apparel (T&A) including
handicrafts in India’s total exports stands at a significant 8.21% in 2023-24. Our
country has a share of 3.9% of the global trade in textiles and apparel. Major textile
and apparel export destinations for India are USA and EU and with around 47% share
in total textile and apparel exports. India is a major textile and apparel exporting
country and enjoys trade surplus. Bulk of
import takes place for re-export or for industry requirement of raw material.
It is noteworthy that export is a function
of demand and supply and depends on factors such as global demand, internal consumption
and demand, order flow, logistics etc. Exports also gets affected by many geopolitical
situations (such as red sea crisis, Bangladesh crisis etc.). Export in FY 2024 was
initially low mainly due to the geopolitical crises around red sea, which affected
export movement during January, February and March 2024.
|
Export of Textile & Apparel Including Handicrafts (Apr-Oct) |
||||||
|
Value in USD Million |
||||||
|
Commodity |
Oct-23 |
Oct-24 |
% Change |
Apr-Oct 2023 |
Apr-Oct 2024 |
% Change |
|
Readymade Garment |
909 |
1227 |
35% |
7,825 |
8,733 |
12% |
|
Cotton Textiles |
1005 |
1049 |
4% |
7,014 |
7,082 |
1% |
|
Man-made textiles |
414 |
474 |
14% |
2,958 |
3,105 |
5% |
|
Wool & Woolen textiles |
16 |
14 |
-11% |
117 |
95 |
-19% |
|
Silk Products |
13 |
14 |
5% |
70 |
98 |
40% |
|
Handloom Products |
12 |
13 |
4% |
89 |
84 |
-6% |
|
Carpets |
126 |
147 |
17% |
795 |
893 |
12% |
|
Jute Products |
25 |
36 |
44% |
218 |
220 |
1% |
|
Total Textile
& Apparel |
2,520 |
2,974 |
18% |
19,087 |
20,309 |
6% |
|
Handicrafts |
129 |
171 |
33% |
921 |
1,050 |
14% |
|
Total T&A
including Handicrafts |
2,649 |
3,144 |
19% |
20,007 |
21,358 |
7% |
Source: DGCIS, Provisional Data
The overall export of Textiles & Apparel
(incl. handicrafts) marked a growth of 7% during April-October period of FY 2024-25
($ 21,358 Mn) compared to same period of FY 2023-24 ($ 20,007 Mn).
Ready Made Garments (RMG) category with
export of $ 8,733 Mn has the largest share (41%) in the total exports ($ 21,358
Mn) during the period of April-October of FY 2024-25, followed by Cotton Textiles
(33%, $ 7,082 Mn), Man- Made Textiles (15%, $ 3,105 Mn).
Growth of exports is observed in all principal
commodities during the period of April-October of FY 2024-25 compared to corresponding
period of FY 2023-24, except wool and handloom which decline by 19% and 6% respectively.
|
Import of Textile & Apparel
Including Handicrafts (Apr-Oct) |
||||||
|
Value in USD Million |
||||||
|
Commodity |
Oct-23 |
Oct-24 |
% Change |
Apr-Oct 2023 |
Apr-Oct 2024 |
% Change |
|
Readymade Garment |
162 |
183 |
13% |
934 |
951 |
2% |
|
Cotton Textiles |
209 |
310 |
48% |
1,529 |
1,721 |
13% |
|
Man-made textiles |
342 |
297 |
-13% |
2,127 |
1,859 |
-13% |
|
Wool & Woolen textiles |
30 |
28 |
-8% |
219 |
197 |
-10% |
|
Silk Products |
15 |
16 |
5% |
130 |
102 |
-21% |
|
Handloom Products |
0 |
0 |
34% |
1 |
1 |
56% |
|
Carpets |
4 |
4 |
0% |
19 |
21 |
12% |
|
Jute Products |
20 |
24 |
20% |
179 |
151 |
-16% |
|
Total Textile
& Apparel |
783 |
861 |
10% |
5,138 |
5,004 |
-3% |
|
Handicrafts |
34 |
44 |
29% |
326 |
421 |
29% |
|
Total T&A
including Handicrafts |
817 |
905 |
11% |
5,464 |
5,425 |
-1% |
Source: DGCIS, Provisional Data
Import of textiles and apparel products
by India during FY 2023-24 ($ 8,946 Mn) has decreased by approximately 15% in comparison
to FY 2022-23 ($10,481 Mn).
The overall import of Textiles & Apparel
(incl. handicrafts) decline 1% during April-October period
of FY 2024-25 ($ 5,425 Mn) compared to same period of FY 2023-24 ($ 5,464 Mn)
Man-made Textiles category with import
of $1859 Mn has the largest share (34%) in the total imports ($ 5,425 Mn) during
the period of April-October of FY 2024-25, as there is demand supply gap in this
sector.
Growth of imports is observed majorly
in Cotton Textiles mainly on account of import of long staple cotton fibre and such
trends of import indicates towards an increase in production capacity of the country
amidst rising consumption and self reliance.