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India: Textile and apparel exports register marginal growth in FY19

As per the Confederation of Indian Textile Industry (CITI), India’s textiles and apparels exports in the fiscal 2019 grew 1.66 per cent to $35.969 billion as compared to $35.381 billion in the previous fiscal, mainly due to a sharp drop in the shipment of apparels. Export of textiles products grew by 6.19 per cent to $19.830 billion during the fiscal under review as compared to $18.674 billion a year ago. Apparels exports declined by 3.40 per cent to $16.138 billion as against $16.706 billion in the previous financial year

Amongst textile products, cotton yarn/fabrics/made-ups, handloom products continued to be the largest export earner with a growth of 9.22 per cent, man-made fabrics exports increased by 3.15 per cent to $$4.978 billion as against $4.824 billion in the previous fiscal.

The carpet segment registered a growth of 3.63 per cent to $1.481 billion as compared to $1.429 billion in fiscal 2018.Exports of textile products and apparel in March 2019 grew by 6.96 per cent to $3.550 billion as compared to $3.319 billion in March 2018.

However, the monthly index of industrial production (IIP) of textiles declined (y-o-y basis) in February 2019. Exports of apparels registered a positive growth y-o-y in March 2019 which shows a positive correlation with increase in IIP of apparels in February 2019.

 
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