India's cotton textile exports shot up 66% in April-December 2021

In December 2021, exports of cotton yarn, fabrics, made-ups, handloom products from India stood at $ 1.444 billion, registering an increase of 46.19 per cent over $987.76 million earned in exports in December 2020, the government data showed.

On the other hand, apparel exports grew by 35.62 per cent to $11.123 billion in April-December 2021 compared to $8.202 billion in April-December 2020. Here too, the rate of increase slowed down in December 2021, showing a rise of 22.63 per cent to $1.466 billion over $1.196 billion in the same month of 2020.

In terms of India’s overall textile and clothing sector exports, they grew by 30.43 per cent to $3.838 billion in December 2021 from $2.942 billion in December 2020. Exports of all textile products, excluding apparels, grew by 35.77 per cent to $2.371 billion in December 2021 as against exports of $1.746 billion in December 2020.

The overall share of the textile sector in India’s total merchandise exports declined marginally to 10.15 per cent in December 2021 from 10.81 per cent in December 2020, showing an underperformance of textile sector compared to other industries.

Meanwhile, on the expenditure front, India’s imports of cotton raw and waste increased by 72.43 per cent to $52.73 million during December 2021 from $30.58 million in December 2020. Imports of these items increased by 59.97 per cent to $413.64 million in April-December 2021 from $258.57 million during the comparable period of 2020. Imports of textile yarns, fabrics, made-ups also increased by 26.68 per cent to $229.2 million from $180.93 million in December 2021. In April-December 2021, their imports increased by 54.42 per cent to $1.506 billion from $975.49 million in the same month a year ago.

Fibre2Fashion News Desk (KUL)