India’s Textile & Apparel exports down 11.41% to $5.56 bn in Apr-May

NEW DELHI: India’s textiles and apparel exports have decreased by 11.41 per cent to $5.568 billion in April andMay2023,downfrom$6.722billion during the same period in the previous fiscal. The shipment of textiles and apparel dropped by 12.16 per cent in May 2023, totalling $2.816 billion.

According to the latest trade data released by the Government, the share of textile and apparel in total exports fell to 7.99 per cent in the past two months, compared to 8.54 per cent during the same period lastyear.India’sapparelexportsalso fell by 18.16 per cent to $2.446 billion in April and May 2023, down from $2.989 billion during the correspondingperiodoftheprevious year.

Textile exports dropped from

$3.733 billion to $3.121 billion in the past two months. Among textiles, the exports of cotton yarn, fabrics, madeups, and handloom products decreased by 17.90 per cent to $1.808 billion, down from $2.202 billion. The shipment of man-made yarn, fabric, and made-ups decreased by 10.27 per cent to $788.10 million, down from $878.34 million. Carpet exports fellby14.21percentto$216.42million, and handicrafts (excluding handmade carpets) fell by 21.23 per cent to $245.59 million during the reviewedperiod.

In May 2023, the shipment of textiles and apparel fell by 12.16 per centto$2.816billion,downfrom$3.206 billion. The exports of cotton yarn, fabric,made-ups,handloomproducts, etc, dropped by 11.75 per cent to $920.28 million (down from $1,042.81 million), man-made yarn, fabric, made-ups to $395.16 million (down from $421.75 million), carpets to $111.25 million (down from $127.27 million), and handicrafts excluding handmade carpets to $123.52 million (downfrom$156.49million).

India’s import of raw and waste cotton fell by 30.64 per cent to $103.37 million in April-May 2023, down from $149.03 million during the same period last year. In May 2023, it dropped by 39.81 per cent to $58.07 million from $96.47 million. The exports of textile yarn fabric, made-ups decreased by 14.37 per cent to $349.78 million in the last two months from $408.5 million. The inbound shipment decreased by 11.93 per cent to $188.39 million in May 2023, down from $213.92 million inMay2022.