Kidswear exports decline by 19.38% during Jan-Oct’23

Data released by the Ministry of Commerce and Industry shows, India’s kidswear exports declined by 19.38 per cent Y-o-Y to $880.82 million during the January to October 2023 period.

Analysed by Apparel Resources, the data reveals, kidswear exports to key markets such as the US, UK, Germany, and France declined while exports to the UAE increased slightly.

By value, India’s kidswear exports to the US declined by 29.71 per cent to $276.78 million while exports to the UK declined by 18.76 per cent to $136.28 million. India’s kidswear exports to the UAE surged by 2.10 per cent to $69.10 million, by 15.33 per cent to $34.29 million to France, and 36.23 per cent to $29.71 million to Germany.

The drop in India’s kidswear exports can be attributed to the global economic slowdown, particularly in the US and the EU. The experts advise the industry to target more buyers in the GCC region to potentially boost export revenues in the future.