India’s Textile and Clothing (T&A) exports increased in rupee terms: April-December 2021
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06 February 2022, Mumbai:
India’s textile and clothing exports increased by 25 per cent in rupee terms from April-December 2021 compared to the corresponding period in 2019, according to data available.
While the total textile and apparel exports in April - December 2019 were to the tune of $ 25 billion, it increased to almost $30 billion during the same period last year.
In rupee terms, the exports grew from Rs 177,803 crore to Rs 221,528 crore. While cotton yarn, fabric and made-ups grew by over 40 per cent in dollar and rupee terms, ready made garment grew only 2.69 per cent in rupee terms compared to the same period in 2019 and saw a negative growth of 2.81 per cent in dollar terms.
Overall textile and clothing exports are expected to be a little more than $ 40 billion this financial year (2021-2022) compared as against the target of $ 44 billion. The main area of concern is exports of apparel.
Many garments units, especially those located in Tamil Nadu, Karnataka, the national capital region (NCR), and Punjab remained shut between April and June in 2021 because of the spread of COVID-19.
Raja M. Shanmugham, President, Tiruppur Exporters’ Association (TEA), says garment exports from Tiruppur this fiscal is expected to be almost Rs 32,000 crore as against Rs 24,000 crore last financial year.
But, the growth is mainly in terms of value. While the exporters have orders, high raw material prices are a deterrent to increase in volume. If the current trend in raw material prices continues, sustaining this will also be a challenge, he said.
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