Apparel exports from India registered an impressive growth of 30.2 percent year-on-year and registered $4439.2 mn in the first three months of current fiscal 2022-23, as per the preliminary estimates of export and import issued by the ministry of commerce and industry. India’s apparel exports stood at $3408.4 mn in April-June 2021.
The export of readymade garments (RMG) of all textiles contributed 3.80 percent in the country’s total merchandise export in April-June 2022. India’s RMG exports were worth $1449.3 mn in June 2022, against export of $1003.3 mn in June 2021, showing a growth of 44.67 percent. RMG contributed 3.82 percent in total merchandise export of June 2022.
According to an analysis of Confederation of Indian Textile Industry (CITI) based on the Ministry’s data, India exported cotton yarn, fabrics, made-ups and handloom products, etc worth $3124 mn during the first three months of current fiscal, against the export of $3364.4 mn in the same period of last fiscal. It shows downfall in export of cotton textiles. The export declined 22.5 percent to $925.2 mn in June 2022 against the export of $1194.5 mn.
India’s overall merchandise export in June 2022 amounted to $37.94 bn, showing an increase of 16.78 percent over $32.49 bn achieved in June 2021. The country’s merchandise export in April-June 2022 was $116.77 bn, with an increase of 22.22 percent over $95.54 bn in April-June 2021.
India’s total merchandise import in June 2022 was $63.58 bn, registering an increase of 51.02 percent over $42.1 bn in June 2021. India’s merchandise import in April-June 2022-23 was $187.02 bn, i.e., an increase of 47.31 percent over $126.96 bn in April-June 2021-22.
