India’s textiles, apparel exports rise to $29.8 billion during April-December
India’s textiles and apparel industry witnessed a significant rise in its export during the April-December period growing to $29.8 billion, as compared to $21.2 billion in the same period last year.
The government had set a target of $44 billion for the year for exports of textiles and apparel, including handicrafts and with 67 percent already achieved in nine months expects to achieve it by end of the fiscal year.
The industry has managed to recover from the disruptions caused by the Covid-19 pandemic over the last two years and optimistic of future growth despite the fresh disruptions caused by the Omicron variant.
“The textile sector has continuously maintained a trade surplus with exports manifold higher than imports. In 2020-21 there was a deceleration in textile exports due to pandemic disrupting the supply chain and demand,” the textiles ministry said in a statement.
“The last quarter of FY (fiscal year) always has higher activity than the earlier quarters. Industry is hopeful that targets will be duly met,” it added.
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