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India's textile & apparel exports shrink 10% in FY21

20 May '21
2 min read
Pic: Shutterstock
Pic: Shutterstock

Textile and apparel exports from India declined by 10 per cent $32.055 billion during fiscal 2020-21 ending March 31. The share of textiles and made-ups increased to 62 per cent in total exports, while that of apparel decreased to 38 per cent during the year. Exports of coir, raw jute, raw cotton and silk waste saw substantial increase during the period.

Textiles and made-ups exports fetched $19.784 billion during the 12-month period, showing a drop of only 1 per cent year-on-year. On the other hand, apparel exports fell by a sharp 21 per cent to $12.271 billion, according to an analysis by The Confederation of Indian Textile Industry (CITI) based on data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S).

Among textiles and made-ups, cotton segment earned $10.708 billion, up 9 per cent year-on-year, followed by manmade segment with $4.179 billion (down 22 per cent), jute $397 million (up 11 per cent), wool $109 million (down 40 per cent), and silk $100 million (up 8 per cent). Export of other textiles including carpets, handlooms, coir and other products were stable at $4.291 billion.

Among apparel, readymade garments (RMG) of cotton including accessories stood at $6.866 billion showing a decline of 21 per cent, followed by RMG of manmade fibre with $2.631 billion (down 25 per cent), RMG of other textile materials $2.574 billion (down 16 per cent), RMG of wool $108 million (down 30 per cent), and RMG of silk $92 million (down 23 per cent).

While cotton textiles and apparel constituted 54 per cent of total textiles and apparel exports from India during April-March 2020-21, the share of manmade textiles and apparel stood at 21 per cent, according to CITI analysis.

Fibre2Fashion News Desk (RKS)

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