Tamil Nadu’s Textile & Apparel Exports Dip 10.12% In 2023-24
Textile and apparel exports from India’s biggest textiles exporting state Tamil Nadu dipped 10.12 percent to US $7.1 billion in fiscal 2023-24 as against $7.9 billion in the 2022-23 fiscal.
This also resulted in share of Tamil Nadu in India’s textile and garment export basket falling to 20.78 percent by value as against 22.58 per cent in the previous fiscal.
Of this, clothing exports accounted for $4.69 billion, while cotton yarn, fabrics, made-ups, and handloom products totaled $2.06 billion, with the rest accounted for by carpets, floor coverings and handicrafts.
As per the government data, Gujarat was the second-largest exporter of textiles and apparel, followed by Maharashtra in third position.
“While overall Indian textile exports declined 3.24 percent year on year in fiscal 2023-24, cotton textile exports climbed 6.7 percent to $11.68 billion,” Texprocil ED Siddhartha Rajagopal said.
According to Rajagopal, high raw material prices in the initial months of earlier fiscal, low spinning capacity utilisation, and low off take of garments were the main reasons for fall in Indian textile and garment exports.
However, the Texprocil chief expressed optimism of an improvement in exports from both India and Tamil Nadu, citing stabilising demand, range-bound raw material prices, and potential signing of UK-India FTA.
