The global and Indian cotton textile business outperformed during the year 2021-22 owing to pent-up demand created by the post-COVID impact. However, such fortunes proved to be short-lived with abnormal increase in the benchmarked variety of Shankar-6 cotton price to the tune of Rs.1,10,000/- per candy during May 2022. The demand for cotton textiles nosedived from April 2022, due to higher inflation in major importing countries, declining demand, etc., The global export of cotton textiles declined to $ 143.87 bn during the calendar year 2022 as against $154 bn and $170 bn recorded during the years 2021 and 2020 respectively. All the major cotton textile exporting countries like China, Vietnam, Türkiye and USA recorded lower exports while Pakistan could sustain its export level mainly due to duty free access in key markets. The total Indian textiles and allied products export that recorded $42.9 bn during 2021-22 dipped to $35.4 bn during 2022-23 as a result of declined demand for cotton. The cotton yarn exports, dropped by almost 50 percent while the cotton fabrics and made-ups exports dropped by 17% and raw cotton exports dropped by 73 percent during the year 2022-23 when compared to 2021-22.