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According to the latest trade data released by the government, the share of textile and apparel in total exports fell to 7.99 per cent in the past two months, compared to 8.54 per cent during the same period last year. India's apparel exports also fell by 18.16 per cent to $2.446 billion in April and May 2023, down from $2.989 billion during the corresponding period of the previous year.
Textile exports dropped from $3.733 billion to $3.121 billion in the past two months. Among textiles, the exports of cotton yarn, fabrics, made-ups, and handloom products decreased by 17.90 per cent to $1.808 billion, down from $2.202 billion. The shipment of man-made yarn, fabric, and made-ups decreased by 10.27 per cent to $788.10 million, down from $878.34 million. Carpet exports fell by 14.21 per cent to $216.42 million, and handicrafts (excluding handmade carpets) fell by 21.23 per cent to $245.59 million during the reviewed period.
In May 2023, the shipment of textiles and apparel fell by 12.16 per cent to $2.816 billion, down from $3.206 billion. The exports of cotton yarn, fabric, made-ups, handloom products, etc, dropped by 11.75 per cent to $920.28 million (down from $1,042.81 million), man-made yarn, fabric, made-ups to $395.16 million (down from $421.75 million), carpets to $111.25 million (down from $127.27 million), and handicrafts excluding handmade carpets to $123.52 million (down from $156.49 million).
India's import of raw and waste cotton fell by 30.64 per cent to $103.37 million in April-May 2023, down from $149.03 million during the same period last year. In May 2023, it dropped by 39.81 per cent to $58.07 million from $96.47 million. The exports of textile yarn fabric, made-ups decreased by 14.37 per cent to $349.78 million in the last two months from $408.5 million. The inbound shipment decreased by 11.93 per cent to $188.39 million in May 2023, down from $213.92 million in May 2022.
Fibre2Fashion News Desk (KUL)