India’s textile and apparel exports grow 41% to $44.4 billion in 2021-22
India’s textile and apparel exports grew by 41% to $44.4 billion in 2021-22 from the previous fiscal year, meeting the strict annual target set by the government.
The United States was the main export destination, accounting for more than a quarter of total textiles and clothing exports (27%), followed by the EU (18%), Bangladesh (12%) and the Arab Emirates United (6%). ), according to an official statement issued Tuesday by the Ministry of Textile.
Textile and clothing exports in 2021-22 were 26% higher than exports in 2019-20. This is the strongest export ever recorded for the sector.
“In terms of product categories, cotton textile exports amounted to $17.2 billion, with a 39% share registering 54% and 67% growth during 2021-22 compared to fiscal years. 20-21 and 2020, respectively,” the statement read. said.
The export of ready-made garments in 2021-22 was $16 billion with a share of 36%, recording a growth of 31% from 2020-21 and 3% from 2019-20.
Synthetic textiles exports amounted to $6.3 billion, with a share of 14%, showing a growth of 51% in 2020-2021 and 18% in 2019-2020.
Handicraft exports, at $2.1 billion in 2021-2022, accounted for 5% of total textile exports and registered an increase of 22% and 16% compared to 2020-2021 and 2019-2020, respectively. says the press release.
May 31, 2022