CITI: Textile Sector Records 12.38% Growth In September

India’s textile and apparel industry demonstrated impressive growth in September 2024, achieving a 12.38% rise in exports compared to the same period last year, according to a report by the Confederation of Indian Textile Industry (CITI). The surge was primarily driven by apparel exports, which increased by 17.30%, underscoring the growing global demand for Indian-made products.

Commenting on the sector’s performance, CITI Chairman Rakesh Mehra noted, “India’s textile and apparel exports continue to show strong momentum, with a 12.38% growth in September 2024 over the previous year. Apparel exports, in particular, saw an impressive rise of 17.30%, reflecting the global demand for quality Indian products. The steady growth of 5.13% in cumulative exports for the first half of FY24 reinforces our sector’s resilience and potential in driving economic progress.”

The report highlighted that textile exports rose by 9.56% in September 2024, reaching USD 1,813.27 million, while apparel exports grew to USD 1,110.11 million. Other segments also performed well, with man-made fabrics growing by 11.41% and carpets by 14.93%. Notably, handicrafts (excluding handmade carpets) recorded the highest growth at 48.10% over the previous year.

For the April-September 2024 period (H1 FY24), cumulative textile and apparel exports grew by 5.13% compared to the same period in FY23, with textile exports increasing by 2.76% and apparel exports rising by 8.51%. Total exports for this period amounted to USD 17,660.62 million, indicating the sector’s strong recovery and potential for sustained growth.

The report also emphasized the growing competitiveness of the textile industry, reflected in its increased share of total exports, which rose from 7.56% in September 2023 to 8.45% in September 2024. With the support of Free Trade Agreements (FTAs) and rising demand in global markets, such as the EU and the US, the industry is poised to expand its international reach further.

However, the sector faces certain challenges. Raw cotton and waste imports increased by 236.26% in September 2024, hinting at domestic supply constraints. Meanwhile, imports of textile yarn, fabrics, and made-ups decreased by 1.80%, suggesting increased reliance on domestic production.

Overall, the steady growth in both textile and apparel exports reflects the sector’s resilience and adaptability amid global economic uncertainties. With favorable market conditions, policy support, and a focus on quality production, the industry is well-positioned to drive India’s economic progress in the coming months.