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India's cotton, jute positive export growth trend continues in June

06
Jul '21

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Exports of cotton yarn/fabrics/made-ups, handloom products etc form India shot up 50.86 per cent in June 2021 over June 2019, according to the preliminary data on India's merchandise trade in June 2021 released by the country's ministry of commerce & industry. Jute exports, including floor covering, increased by 23.97 per cent in June 2021 over June 2019.

Among other textile categories, export of man-made yarn/fabrics/made-ups etc jumped by 23.66 per cent, while handicrafts, excluding hand-made carpet, exports rose 18.83 per cent during June 2021, when compared with June 2019. Exports in June 2020 were affected due to the COVID-19 pandemic, and hence that month's figures are not used for comparison.

However, leather and leather manufactures (-21.0 per cent), readymade garments (RMG) of all textiles (-18.76 per cent), were among the major commodity groups of export showing negative growth in June 2021 over June 2019, the data showed.

Major commodity groups of import showing negative growth in June 2021 over June 2019 include cotton raw & waste (-51.03 per cent), leather & leather products (-18.43 per cent), and textile yarn fabric, made-up articles (-9.66 per cent), as per the government data.

In terms of overall trade, India was a net importer in June 2021 with a trade deficit of $9.4 billion, widened by 1,426.6 per cent over trade surplus of $0.71 billion in June 2020 (India was net exporter in June 2020) and narrowed down by 41.26 per cent over trade deficit of $16.0 billion in June 2019.

In April-June 2021, India's merchandise exports stood at $95.36 billion, an increase of 85.36 per cent over $51.44 billion in April-June 2020 and an increase of 17.85 per cent over $80.91 billion in April-June 2019. Merchandise imports, on the other hand, were $126.14 billion, an increase of 107.99 per cent over $60.65 billion in April-June 2020 and a decrease of 3.05 per cent over $130.1 billion in April-June 2019.

Fibre2Fashion News Desk (RKS)

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