India’s exports of readymade garment (RMG) of all textiles increased by 5.22 percent to $13,335 mn in the first ten months of fiscal 2022-23 (FY23, April 2022 to January 2023), as per the data released by the department of commerce under India’s Ministry of Commerce and Industry. RMG exports were noted at $12,673 mn in the same period of the previous year.
The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 28.74 percent to $9,044.38 mn in April-January 2023 from $12,692.75 mn in the corresponding period of the previous fiscal. Carpet exports came down by 23.14 percent to $1,156.18 mn from $1,504.25 mn in the same period in the last fiscal. Man-made yarn, fabrics and made ups exports went down by 11.52 percent year-over-year (YoY) to $4,075.54 mn from $4,606.30 mn in the same period.
India’s RMG exports decreased by 3.48 percent to $1,492.98 mn in January 2023. The exports were noted at $1,546.82 mn in the same period of last year. The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 37.42 percent YoY to $869.26 mn from $1,388.94 mn. Carpet exports fell by 27.42 percent to $104.95 mn from $144.59 mn in the same period. Man-made yarn, fabrics and made ups exports came down by 21.12 percent to $396.77 mn from $503.01 mn in the same period.
India’s overall exports (merchandise and services combined) in January 2023 are estimated at $65.15 bn, exhibiting a growth of 14.58 percent over the same period last year. Overall imports in January are estimated at $66.42 bn, which was 0.94 percent higher over the same period last year.
During April 2022-January 2023, India’s exports of merchandise and services increased 17.33 percent to reach $641.24 bn against the shipment of $546.55 bn during the corresponding period of last year.
Overall imports also increased by 22.92 percent to $753.19 bn from $612.75 bn during the same period.
