Indian Textile and Apparel exports show significant growth, drive optimism for continued success

TEXTILES

EXPORTS DATA NATIONAL

NEW DELHI, INDIA

Indian Textile and Apparel exports show significant growth, drive optimism for continued success - CITI

By IFAB MEDIA - NEWS BUREAU - November 18, 2024 | 311 2 minutes read

In a positive trend, India's textile and apparel sector demonstrated remarkable growth in October 2024. As per the Quick Estimates released for the month of October 2024, Indian textile exports was higher by 11.56% while apparel exports increased by 35.06% as compared to October 2023.
Chairman CITI, Rakesh Mehra, expressed optimism about this upward trajectory, highlighting the sector's potential for robust and sustained growth. “This growth reflects not only the resilience and adaptability of our industry but also underscores India's strengthening position in the global textile and apparel markets”.
Mehra attributed this significant progress to multiple factors, including the increased market share of Indian T&A exports in the USA, as well as supportive government initiatives like the extension of the Remission of Duties and Taxes on Export Products (RoDTEP) and Interest Equalization Scheme (IES). He also highlighted the impact of the sector’s collective commitment to quality, innovation, and sustainable practices, positioning India as a preferred sourcing destination worldwide.
- During Oct’24, Indian Textile exports was about 11.56% higher as compared to Oct’23 while Apparel exports registered a significant growth of 35.06% during the same time period.

- Cumulative exports of Textiles and Apparel during Oct’24 have registered a growth of 19.93% over Oct’23.

- During Apr-Oct’24, Indian Textiles exports registered a growth of 4.01% over the previous year while Apparel exports registered a growth of 11.60% during the same time.

- Cumulative exports of Textiles and Apparel during Apr-Oct’24 have registered a growth of 7.08% as compared to Apr-Oct’23.