Textile and apparel exports turned positive last month after more than six months of degrowth.
With exports worth $2,951.9 mn in August this year, the year-on-year growth was 4.33% ($2829.3 million in August 2022). While textile exports increased 13.98%, apparel exports declined 8.15%. Cumulative exports of textiles and apparel for April – August, however, were 10.51% lower compared with the same period last year, shows data shared by the Confederation of Indian Textile Industry.
“It (growth registered in textile exports) is too early to call it a trend. We need to wait and see for another three or four months,” said S.K. Sundararaman, Chairman of Southern India Mills’ Association.
Siddhartha Rajagopal, Executive Director of Cotton Textiles Export Promotion Council, said the demand was good for home-textile products. “The growth in cotton textiles is led by made ups,” he said. Usually demand and exports pick up during the September-March period. Garment demand is also expected revive in December-January this financial year. “The situation is not rosy. But the growth will be sustained. We need to be focused on fibre availability,” he said.