During the January to October ’23 period, India’s exports of men’s shirts reached a total value of US $ 1.43 billion, according to the latest data from the Ministry of Commerce and Industry.
Despite a 2.32 per cent year-on-year decrease in men’s shirt exports, exporters may not be overly concerned, given the minimal decline attributed to the global economic stagnation in 2023.
Knitted shirts accounted for US $ 556.22 million in exports, experiencing an 8.37 per cent decline, while woven shirts contributed US $ 872.71 million, marking a 1.97 per cent increase in revenues. The rise in woven shirts signals a decent demand for Made in India products in the global market.
The US maintained its position as the leading export destination, with India exporting men’s shirts worth US $ 526.62 million, representing almost 37 per cent of the total export value. Despite a 7.88 per cent yearly decline, the USA remained significantly ahead of other destinations.
The UAE ranked as the second-largest export destination, with men’s shirt exports totalling US $ 158.55 million. However, there was a 3.64 per cent decrease in the Middle East country’s imports of men’s shirts from India compared to the same period in the previous year.
Men’s shirt exports to the third-largest destination, the UK, amounted to US $ 87.22 million , experiencing a marginal 0.30 per cent year-on-year decline.
It is noteworthy that men’s shirt exports constitute approximately 11.73 per cent of India’s overall apparel export values (US $ 12.19 billion) during the January to October ’23 period.