India’s exports of cotton yarn, fabrics, made-ups and handloom products and carpet declined in June 2022, which dragged down overall textile exports by 14.30 percent. According to industry experts, export of cotton yarn and fabrics fell due to disparity in prices, while export of other textile products dropped due to slower demand amid economic volatility.
According to the figures released by Ministry of commerce and industry, the export of cotton yarn, fabrics, made-ups, handloom products, etc reduced by 19.49 percent to $961.73 mn in June 2022. An analysis of Confederation of Indian Textile Industry (CITI) revealed that the export of carpet declined 8.97 percent to $130.17 mn and handicrafts excluding handmade carpet came down 28.68 percent to $115.99 mn. Therefore, overall cotton textile export dropped 14.30 percent to $1699.61 mn in June 2022.
However, the export of jute products including floor covering and man-made yarn, fabrics, made-ups etc improved in the same period which limited overall decline in textile segment.
India’s apparel export jumped 49.82 percent to $1,500.91 mn in June 2022 from $1001.81 mn in June 2021. The overall export of textile and apparel showed a rise of mere 7.22 percent because of decline in textiles’ shipments. According to CITI’s analysis, cumulative export of cotton yarn, fabrics, made-ups, handloom products etc reduced 6.09 percent to $3160.90 mn during April-June 2022. The export of carpet decreased 7.15 percent to $382.43 mn and handicrafts excluding handmade carpet down by 24.08 percent during first quarter of current fiscal 2022-23. Overall export of textiles declined 4.91 percent to $5359 mn in April-June 2022. Apparel exports registered an increase of 31.84 percent in this period, but the shipment of textile and apparel could manage to rise by 8.93 percent to $9850.48 mn in the period.
Industry experts feel that overall export conditions are not favourable in the textile sector. Apparel export registered impressive rise due to increase of unit price due to costlier cotton and other raw materials. Cotton yarn and fabrics export reduced because of price disparity. The shipment of made-ups and handlooms declined as export orders were fewer amid challenging economic conditions in the world.
