India’s Textile and Apparel Exports surge by over 9% in May despite economic challenges
By IFAB MEDIA - NEWS BUREAU -June 18, 2024 | 3872 minutes read
India’s textile exports experienced a significant increase of 9.59 per cent in May 2024 compared to the same month last year, according to a report by the Confederation of Indian Textile Industry (CITI). This growth comes despite challenging economic conditions in key markets such as the European Union (EU), the US, and West Asian nations.
Apparel exports also saw a noteworthy rise, growing by 9.84 per cent during the same period. The cumulative exports of textiles and apparel in May 2024 registered a 9.70 per cent increase over May 2023 figures.
The country’s overall exports for May 2024 surged to 68.29 billion US Dollars, marking a substantial year-on-year increase of 10.2 percent. This data was released by the Commerce Ministry on June 14.
For the April-May period this year, India’s textile exports grew by 6.04 per cent over the previous year, while apparel exports showed a growth of 4.46 per cent during the same timeframe.
These figures highlight the resilience and growth potential of India's textile and apparel industry amid global economic uncertainties.
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