Indian Textile & Apparel (T&A) sector 'Achieving a Higher Exports Trajectory' in Oct 2021
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17 November 2021, Mumbai:
Exports of cotton and man-made yarn/fabrics/made-ups, readymade garments, jute products including floor covering, and carpets from India showed positive growth in October 2021 over the same month of the previous year, according to the preliminary data on India's merchandise trade in October 2021 released by the country's ministry of commerce & industry.
All textile-apparel commodities/commodity groups recorded a positive growth during October 2021 vis-à-vis October 2020. These include cotton yarn/fabrics/made-ups, handloom products, etc (46.2 per cent), man-made yarn/fabrics/made-ups, etc (29.12 per cent), jute manufacturing including floor covering (27.44 per cent), leather & leather products (15.64 per cent), carpet (10.06 per cent), handicrafts excluding handmade Carpet (9.72 per cent), and readymade garments of all textiles (6.42 per cent).
India's exports in October 2021 stood at $35.65 billion, as compared to $24.92 billion in October 2020, exhibiting a positive growth of 43.05 per cent. In rupee terms, exports were ₹2,67,056.26 crore in October 2021, as compared to ₹1,83,060.60 crore in October 2020, registering a positive growth of 45.88 per cent.
As compared to October 2019, exports in October 2021 exhibited a positive growth of 35.89 per cent in dollar terms and 43.30 per cent in rupee terms.
Cumulative value of exports from India for the period April-October 2021 was $233.54 billion (₹17,30,104.50 crore) as against $150.54 billion (₹11,24,418.69 crore) during the period April-October 2020, registering a positive growth of 55.13 per cent in dollar terms (positive growth of 53.87 per cent in rupee terms).
As compared to April-October 2019, exports in April-October 2021 exhibited a positive growth of 25.97 per cent in dollar terms and 33.06 per cent in rupee terms.
Commenting on the country’s export performance, Piyush Goyal, India’s minister of commerce & industry and textiles, said in his twitter post that the continuing robust exports growth signals a sustained economic rebound. “Quality goods & services exports from Flag of India are laying the foundation of an Aatmanirbhar Bharat.” Fibre2Fashion
(The news article has not been edited by DFU Publications staff)
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