The exports of cotton yarn, fabrics, made-ups, and handloom products declined by 23.42 per cent to $887.89 million in April 2023 from $1,159.49 million in the corresponding period of the previous fiscal. Carpet exports came down by 15.85 per cent to $105.19 million from $125 million in the same period of the last fiscal. Man-made yarn, fabrics and made ups exports went down by 13.93 per cent year-over-year (YoY) to $393 million from $456.59 million in April 2022.
India’s exports of RMG across all textiles decreased by 23.10 per cent to $1,210.66 million in the first month of FY24.
The exports of cotton yarn, fabrics, made-ups, and handloom products also declined by 23.42 per cent in April 2023.
India’s import of textile, yarn, fabric, and made-up articles decreased by 17.06 per cent in the same period.
India’s import of textile, yarn and fabric and made-up articles decreased by 17.06 per cent to $161.38 million in April 2023 against $194.58 million in the corresponding period of the previous fiscal. The inbound shipment of cotton raw and waste slipped by 13.81 per cent to $45.3 million from $52.56 million in April last year.
India’s overall exports (merchandise and services combined) in April 2023 is estimated at $65.02 billion, showing an increase of 2 per cent over April 2022. Overall imports in April this year are estimated at $66.40 billion, which was 7.92 per cent lower than the imports of April 2022.
During FY23, the exports of RMG of all textiles increased by 1.10 per cent to $16,191.47 million. Garment exports were noted at $16,014.84 million in 2021-22.
Fibre2Fashion News Desk (KUL)