Indian apparel exports increased seven per cent in February 2019 compared to February 2018. Textile and apparel exports in February 2019 grew three per cent.
Indian exports of manmade yarn/fab/made-ups fell two per cent in February 2019 compared to February 2019. Jute exports (including floor coverings) fell ten per cent. Carpet and handicraft exports too fell three per cent each. India’s share in world trade in textile and clothing is estimated to be 4.95 per cent. With these exports, India is ranked second among suppliers in the world. The stressed advance ratio of textile sub-sector has been improving continuously. From 23.70 per cent in September 2017, the stressed advance ratio of the textile sector has come down to 18.70 per cent in September 2018. The old duty drawback rate which was very attractive came to an end in September 2017. Because of this attractive scheme, Indian exporters advanced their delivery schedules to avail of the duty drawback scheme. Consequently, textile and apparel exports skyrocketed in September 2017. Exports, in September 2018, declined sharply. From that level, however, exports are normalizing which is believed to continue in future as well to end the current financial year flat.