Indian apparel exports grew by 35 per cent during the first nine months of 2021, the AEPC has said. This is despite the fact that local restrictions impacted operations in the first quarter during the second wave of the pandemic. Exporters have done exceedingly well and dealt well with the challenges.
Garment exporters have a fast growing order book from brands and buyers across the world. With the active support of the government and driven by strong demand conditions, Indian apparel exports are expected to see historic highs in the coming months. India’s exports in December 2021 posted a growth of 37 per cent over the same month last year and exports in the first three quarters of the fiscal were a record $300 billion.
The country is on target to meet the $400 billion export target set for 2021-22. This would be the highest exports ever achieved for the country. The country’s highest annual export so far was in 2018-19 while the highest monthly export prior to December’s performance was in March 2021. India’s exports in October 2021 rose 43 per cent compared to October 2020. As compared to October 2019, exports in October 2021 exhibited a positive growth of 35.89 per cent in dollar terms and 43.30 per cent in rupee terms.