Textile and attire exports grew 1.63 % final month worth phrases as in opposition to final June.
Whereas textile exports ($ 1625.37 million in June 2024) elevated simply 0.5 %, attire shipments ($ 1293.88 million final month) noticed 3.68 % progress. From April to June this fiscal, textile and attire exports have been 4.08% larger in contrast with the identical interval final yr.
Rakesh Mehra, chairman of the Confederation of Indian Textile Business, stated the present monetary yr is nice to date for the sector and it’s primarily as a result of elevated share of India within the U.S. market in contrast with its rivals.
The U.S. accounts for about 27 % of India’s whole textile and attire exports. From January to Might this yr, India’s textile and attire exports to the U.S. went up 2.5 % yr on yr, whereas exports from China and Bangladesh noticed 1.3 % and 11.9 % decline. “The business is optimistic in regards to the progress of the Indian textile business and beneficial coverage measures within the upcoming price range will propel the expansion of exports,” he stated in a press launch.
