Indian Textile & Apparel Exports Slip 3.24% In Fiscal 2023-24

In fiscal 2023-24, which ends in March 2024, cumulative exports of textiles and apparel from India fell 3.24 percent to $34.43 billion versus $35.58 billion in fiscal 2022-23

Between April 2023 and March 2024, Indian textiles exports registered a year over year growth of 2.62 percent and reached $19.89 billion.

However, clothing exports slipped in double digits at 10.25 percent and reached $14.53 billion compared to $16.9 billion over its previous fiscal.

In March 2024, Indian textile and garment exports collectively grew to US $3.44 billion, up 6.91 percent over $3.22 billion in the same month of 2023.

Of these textiles exports registered a growth of 11.18 percent to total $1.97 billion as against $1.77 billion over the comparable month of earlier year.

Apparel exports increased slower at just 1.70 percent during the same time period and touched $1.47 billion vis-à-vis $1.44 billion in March 2023.