The Indian textile industry is witnessing a revival in the current financial year, with exports increasing by 6.93% from April to Nov. The Gujarat-based textile industry is also experiencing higher export orders. Textile exports increased by 3.90% to $13,478 million, while apparel exports increased by 11.39% to $9,853 million. Indian cotton prices remained higher than international prices, but despite that, Indian textile and apparel exports increased.
According to the data from the Confederation of Indian Textile Industry (CITI), during Nov 2024, Indian textile exports were about 3% higher compared to Nov 2023, while apparel exports registered significant growth of 8% during the same period.
During April to Nov 2024, Indian textile exports registered a growth of 3.9% over the previous year, while apparel exports registered a growth of 11.39% during the same time.
Rahul Shah, co-chairman of the textile task force of the Gujarat Chamber of Commerce and Industry (GCCI), said, “Cotton yarn exports increased by merely 2%, but there is a significant increase in apparel exports. Bangladesh is passing through a crisis, and due to that, many international orders are being shifted to India. The idle garment capacity is now utilised because of higher orders. South Indian garment manufacturers have received significant orders, and Gujarat-based units are also witnessing a growth in orders.”
Industry experts believe that the dollar value is increasing, making Indian textile exports more competitive. “Exports to Southeast Asia and also to Europe and the USA are increasing,” said sources.
As of now, spinning units in Gujarat are running at full capacity. “Cotton prices have decreased, but yarn prices have been stable, so spinning units are witnessing profitability. We need to improve cotton yield to increase exports of cotton yarn,” added Shah.
