Textile and Apparel Exports fall in January

NEW DELHI : India’s textile and apparel exports are down in January 2024 as data issued by the Ministry of Commerce & Industry shows that textile exports registered a de-growth of 1.18 per cent over the previous year while apparel exports also reduced 3.46 per cent during the same time period.

In January 2023, India exported apparel worth US $ 1,441.33 in January 2024, compared to US $ 1,492.99 million in January 2023.

Cumulative exports of textiles and apparel during January 2024 have registered de-growth of 2.29 per cent over January 2023.

The data also shows that during the 10 months of current fiscal (April 2023-January2024) textile Exports registered a growth of 0.15 per cent over the previous year while apparel exports registered a de-growth of 13.14 per cent during the same time.

From April 2023-January 2024, India’s apparel export was US $ 11,583.01 million while the same was US $ 13,335.03 million during April 2022-January 2023.

Cumulative exports of textiles and apparel during these 10 months also have registered de-growth of -5.87 per cent as compared to April 2022- January 2023.

Impacted negatively with this de-growth, the apparel industry believes that things should improve a little in the coming months as the negative impact of wars and issues like the Red Sea attacks are now expected to reduce.

“Though we are surely going to miss our export targets and level of last year, next quarter can bring some relief as overall conditions seems to improve,” said Sanjay Jain, MD of TT Ltd. who is also associated with various trade bodies.