Apparel exports in India surged by 11.84 percent year-on-year in July 2024, while textile exports remained stable. The overall textile and apparel sector showed positive growth, but rising imports remain a concern.
Coimbatore: The Indian apparel industry demonstrated strong performance in July 2024, with exports registering a significant 11.84% year-on-year increase. Apparel exports reached $1,277.2 million in July 2024, up from $1,141.95 million in the same month last year.
Textile exports, on the other hand, remained relatively stable. Last month's textile exports stood at $1,660.36 million, nearly unchanged from the $1,663.06 million recorded in July 2023. The combined textile and apparel sector showed a cumulative year-on-year growth of 4.73% in July 2024.
For the April-July 2024 period, the total textile and apparel exports grew by 4.24% compared to the same period last year, indicating a positive trend in the industry's overall performance.
However, the Confederation of Indian Textile Industry has raised concerns about the increasing imports in the sector. Yarn, fabric, and made-up imports registered a 5.30% increase during the April-July 2024 period compared to the same months last year. This surge in imports could potentially impact domestic manufacturers and remains a matter of concern for the industry.
The growth in apparel exports is seen as a positive sign for the Indian textile and apparel sector, showcasing its resilience and competitiveness in the global market. However, the industry will need to address the challenges posed by rising imports to maintain its growth trajectory and support domestic production.
Textile exports, on the other hand, remained relatively stable. Last month's textile exports stood at $1,660.36 million, nearly unchanged from the $1,663.06 million recorded in July 2023. The combined textile and apparel sector showed a cumulative year-on-year growth of 4.73% in July 2024.
For the April-July 2024 period, the total textile and apparel exports grew by 4.24% compared to the same period last year, indicating a positive trend in the industry's overall performance.
However, the Confederation of Indian Textile Industry has raised concerns about the increasing imports in the sector. Yarn, fabric, and made-up imports registered a 5.30% increase during the April-July 2024 period compared to the same months last year. This surge in imports could potentially impact domestic manufacturers and remains a matter of concern for the industry.
The growth in apparel exports is seen as a positive sign for the Indian textile and apparel sector, showcasing its resilience and competitiveness in the global market. However, the industry will need to address the challenges posed by rising imports to maintain its growth trajectory and support domestic production.