The Confederation of Indian Textile Industry (CITI) in its report,
citing government data, has said that textiles exports from India during
October were about 11.56 per cent higher at $1,833.95 million, compared to the
same month last year. At the same time, apparel exports registered a
significant growth of 35.06 per cent during the same period October at
$1,227.44 million.
It said cumulative exports of textiles and apparel in October 2024
increased by 19.93 per cent compared to October 2023. During April-October,
Indian textiles exports registered a growth of 4.01 per cent over the previous
year while apparel exports registered a growth of 11.60 per cent during the
same time.
It stated ‘We are encouraged by these developments, as they underscore the resilience and competitiveness of India’s textile and apparel industry on the global stage.’ While it did not give any reason for the export boost, Bangladesh’s political instability has likely led to a trade shift to India lately. Bangladesh is a manufacturer of textiles and apparel.
Source: Ace Equity Nxt
