India’s cumulative exports of textiles and apparel during October 2022 fell 34 per cent as compared to October 2021. Textile exports fell 41 per cent year on year in October 2022. Apparel exports declined by 21 per cent. During April 2022 to October 2022, textile exports fell by 20 per cent. However, apparel exports grew by six per cent during the same period.Cumulative exports of textiles and apparel during the first seven months of the current fiscal were down ten per cent.

The share of textiles and apparel in India’s total merchandise exports declined to seven per cent in October 2022 as compared to nine per cent in October 2021.Imports of cotton raw and waste increased by 351 per cent in October 2022 from the same period of last year. Inbound shipment of textile yarn, fabric and made-ups grew four per cent in the same period. During April 2022 to October 2022, imports of cotton raw and waste increased by 273 per cent over the same period of last year.

High inflation across the developed world has reduced consumers’ purchasing capacity, which is the main cause of slowdown in textiles and apparel exports. Developing countries including India are facing serious challenges in textiles exports.