In 2021, India's domestic textile exports would generate US $ 6.68 billion in income
11 February 2022, Mumbai:
India's garment exports have recently been on the rise, with a projected 24 percent increase in 2021 over 2020.
Not only apparels, but also home furnishings and cosmetics exports increased significantly last year, with considerable increases in all important and non-traditional markets.
According to data analysed by team Apparel Resources from the Ministry of Commerce and Industry, India exported the US $ 6.68 billion in home textiles, up 39.83 percent year over year.
India's leading home textile export destination in 2021 will continue to be the United States, which will get over 51% of the country's total made-up cargo. In 2021, exports to the United States totaled $3.46 billion, up 42.85% from the previous year.
The UK was the second most popular destination for Indian home textile manufacturers in 2021, with shipments valued at the US $ 323 million, up 30.81 percent year on year. It's worth mentioning that the difference in export revenues between the top two destinations is enormous, and this gap must be bridged in order to achieve bigger export income.
ALSO READ: Textiles & Apparel (T&A) Exports: Clocks Growth in April - December 2021 YoY
Home textile exports to the UAE, India's third-largest market in the category, were US$ 259.14 million, representing a 32.46 percent year-on-year increase.
According to analysts, the UK, EU, Australia, and Japan are the next development frontiers for India's home textile industry, with the UK, EU, Australia, and Japan jointly shipping roughly 40% of India's home textile products in 2021.
Follow our Daily News on Linkedin & Youtube.
Subscribe to our daily e-newsletter.
Stay updated with the Latest Fashion startup news.
Powered by:
*Figures mentioned in the above article have been sourced from Apparel Resources article.
