Higher production costs led to India’s export of readymade garments (RMG) dipping slightly in July 2022 over the same month of 2021. The fewer export orders from global brands also caused RMG exports of all textiles to slip by 0.63 per cent to $1380.45 million in July 2022.
The Ministry of Commerce and Industry said, India’s RMG exports were $1389.22 million in July 2021. The exports had increased in previous months over the same period of last year. RMG contributed 3.92 per cent in total merchandise export of July 2022.
The export of cotton yarn, fabrics and handlooms products, etc continued to show down trend in July 2022. The export declined to $943.50 million in July 2022 which was 28.27 per cent lower than $1315.42 million of July 2021. The export of non-RMG textile products contributed 2.68 per cent in total merchandise export of July 2022.
However, RMG exports from India grew by 22.45 per cent Y-o-Y to reach $5871.34 million in the first four months of current fiscal 2022-23. The export was $4794.93 million in April-July 2021. The export of RMG contributed 3.75 per cent in the country’s total merchandise export in April-July 2022.