Trade 30-03-2022 Hits: 1346

T&C goods grew significantly in 2021 over last year

Trade 30-03-2022 Hits: 1346

30 March 2022, Mumbai:

India’s textile and clothing (T&C) goods grew 39.6 percent to $41,469.20 million in 2021 over the previous year. Compared to 2019, India’s T&C exports grew 16.9 percent.

Cotton was the most exported commodity during the year with exports growing 67.11 percent to $10,026.99 million in 2021 compared to 2019.

Most of India’s cotton exports were destined for the United States during the year.

The US tops cotton textile exports

US emerged as the top destination for India’s T&C exports.

Most of India’s T&C exports to the US were dominated by cotton. India exported $3736.54 million worth of cotton textiles to the US during the year.

ALSO READ Textile sector exports increase by 41% in April- December 2021 v/s last year

The second-largest export market for Indian cotton textiles was China, exports which grew 61.5 percent to $1,686.83 million in 2021 over 2019 exports.

Amongst other growing export destinations, Vietnam, Indonesia, Turkey, Guatemala and Nigeria witnessed 147.7 percent, 178 percent, 136.1 percent, 179.8, and 198 percent growth in exports respectively.

Yarn exports rise

The most exported commodity in cotton was cotton yarn which grew 68.8 percent to $ 4,919.76 million. Exports of raw cotton also increased 150 percent to $2854.41 million during the year while exports of woven cotton fabric grew 15.7 percent to $2,251.52 million.

Apparel exports decline

India’s apparel exports declined 6.4 percent to $15,205.91 million in 2021 over 2019 exports.

The dip was mostly in knitted apparel whose exports declined 0.16 percent to $7,869.08 million.

The US emerged top market for India’s knitted apparel with exports growing 22.4 percent to $2,504.67 million. Exports to other markets UAE, UK, Germany, France, Saudi Arabia, and Spain dropped in 2021 compared to 2019 exports. Exports of knitted cotton T-shirts dropped 13.2 percent to $1698.16 million in 2021.

On the other hand, exports of cotton baby garments exports rose 11.5 percent to $790.54 million. Exports of woven apparel dropped 12.33 percent to $7,336.83 million during the year with the US emerging as the largest destination.

Woven apparel exports to the country dropped marginally by 0.9 percent from 2019 to $2,277.02 million. On the other hand, exports UK, Germany, Spain, Saudi Arabia, Japan, and Italy registered a huge drop.

In woven apparels category, exports of men’s and boy’s cotton shirts dropped 31.2 percent to $570.78 million while exports of cotton dresses grew 8.26 percent to $624.74 million.

Carpet exports grow

India’s carpet exports grew 32.09 percent in 2021 to $2,263.99 million.

Once again the US emerged as the top destination with exports growing 33.34 percent to $1, 287.11 million. India’s carpet exports to Germany, the UK, Australia, Sweden, and France are also growing at a steady rate.

Textile fabrics register maximum growth

Textile and knitted fabrics witnessed maximum growth of 172.4 percent and 166.9 percent respectively during the year.

Export of made-up textiles grew 39.7 percent to $3,459.22 million while knitted apparel rose 22.41 percent to $2,504.51 million. Woven apparel exports declined 0.9 percent to $ 2,276.79 million while export of carpets increased to $1.286.98 million.

Bangladesh dominates T&C exports

Bangladesh remains the second-largest export destination for India’s T&C goods. Exports to the country grew 107.2 percent in 2021 to $4,259.53 million.

Cotton exports to Bangladesh rose 141.7 percent to $3,735.03 million in 2021 over the 2019 exports.

India’s T&C exports to China grew 46.5 percent to $2055.03 million in 2021 over 2019. Cotton exports to China also rose 61.53 percent to $1 686.83 million. On the other hand, exports to UK, Germany, France, and Spain declined 19.1 percent, 3.4 percent, 2 percent, and 14.2 percent respectively.

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CREDITS: Textile Excellence report