India's Textile Exports Surge to US$ 5.86 Billion in FY25 First Two Months

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India's Textile Exports Surge to US$ 5.86 Billion in FY25 First Two Months

Team FS

01/Jul/2024

Key Points:

Export Growth: India's textile exports reach US$ 5.86 billion in April-May FY25, up 5.4% from the previous year.
Sector Breakdown: Cotton yarn, fabrics, and handloom products see an 8.24% increase in exports.
Contributing Factors: Rise in demand for lightweight fabrics, post-pandemic consumer spending recovery, and popularity of sustainable garments.

India's textile exports have shown robust growth in the first two months of FY25, reaching US$ 5.86 billion, marking a 5.4% increase from the same period a year ago, as per data from the commerce ministry. This surge is attributed to heightened demand for summer clothing in Western markets, driven by preferences for lightweight, breathable fabrics during warmer months.

Exports of cotton yarn, fabrics, and handloom products notably rose by 8.24% to US$ 1.95 billion in April-May FY25, up from US$ 1.8 billion in the corresponding period last year. This growth reflects a recovery in consumer spending post-pandemic, coupled with increasing interest in sustainable and ethically produced garments from India.

The export of readymade garments also contributed significantly to this upward trend, registering a 4.47% increase to US$ 2.55 billion in April-May 2024, compared to US$ 2.4 billion in the same period of FY24. Furthermore, handicrafts and handmade carpets witnessed substantial growth, with exports climbing by 11.49% to US$ 273.66 million from US$ 245.46 million. Similarly, carpet exports rose by 11.76% to US$ 241.81 million from US$ 216.37 million.

A senior government official highlighted that this positive export trend is expected to continue, bolstering India's textile sector and contributing to the country's overall economic growth. Importing countries for Indian textiles include Germany, Sweden, and Spain, underscoring India's global reach and market diversification efforts.

In conclusion, India's textile industry demonstrates resilience and growth in FY25, driven by strategic market demand for seasonal clothing, sustainable fashion, and traditional handicrafts. This article provides insights into the factors propelling India's textile exports and their implications for the broader economy.

Also Read : Indian Stock Market Soars on Positive Global Cues and Gains in Financial and IT Sectors

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India's Textile Exports Surge to US$ 5.86 Billion in FY25 First Two Months

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