Analysis of the DGCI&S exports data by the Confederation of Indian Textile Industry (CITI) shows, from April to July 2022, India’s textile and apparel (T&A) exports grew 2.15 per cent to $12,892.21 million compared to $12,621.04 million during April-July 2021. However, month-on-month analysis shows, exports declined 15.01 per cent to $3,578 million in July 2022.
Dip in textile exports
India’s textile exports declined 10.30 per cent from April to July 2022. Export value of cotton yarn/fabrics/made-ups, handloom products etc fell 12.23 per cent during the period to $4,109.08 million from $4,681.56 million in April-July’21 period. In July 2022, cotton yarn/fabrics/made-ups and handloom products exports declined 28.17 per cent to $944.92 million from $1,315.42 million in July 2021.
MMF exports decreases
India’s MMF yarns/fabrics exports fell 0.33 per cent to $1,765.7 million during April-July 2022 compared to $1,771,59 million during April-July 2021 period. On a year-on-year basis, MMF exports declined 10.33 per cent to $437.59 million in July 2022 from $486.91 million in July 2021.
Textile exports registers larger decline in July’22
In July’22, India’s textile exports declined 24.15 per cent to $1,660.66 million from $2.189.46 million. Apparel exports on the other hand, fell 0.6 per cent to $1,380.91 million down from $1,389.22 million in July’21. The cumulative exports of textiles and apparels grew 2.15 per cent to $12,892.21 million during the April-July’22 period compared to $12,621.04 during the April-July’21 period. Share of T&A exports declined to 8.38 per cent in July 2022 from 10.08 per cent during July 2021. From April-July’22 period, the share of India’s T&A exports declined to 8.19 per cent from 9.63 per cent in the April-July’21 period.
Future positive as IIP increases from April-July’22
T Rajkumar, Chairman CITI says, Indian textile and apparel industry is facing several unprecedented challenges for the last few months. However, he hopes, production will improve in future as from April-July’22, the Index of Industrial Production for textile increased 0.8 per cent while that of clothes increased 50.9 per cent. Though dip in share of textiles and apparels exports of all commodities is a matter of great concern, growing production provides some relief for the industry, adds Rajkumar.